• In raw sugar, the net spec position fell for the third consecutive week, though this week’s drop was comparatively modest at 3.6k lots.
  • Interestingly, both spec long and short gross positions increased, highlighting uncertainty around direction of price.
  • The continued weakness, compared to last month’s highs, was capitalised on by industrial consumers who increased their gross long position by 7k lots.
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Jack Haslam

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