Sugar Futures Positioning and CFTC Update 25th November 2019

• As expected the Speculators in the No.11 used the week preceding the 19^th to buy back and reduce their position by 46k lots.
• This buying was done against producer selling as we saw the commercial short increase by 48k lots.
• With prices having remained at the 12.80c/lb level in the last week, we would expect this trend to have continued.

ICE No.11 Futures Speculative Positioning (values as of 19th November 2019)

ICE No.11 Futures Commerical Positioning (values as of 19th November 2019)

ICE No.11 Futures Open Interest (values as of 19th November 2019)

ICE Futures Europe (No.5) Speculative Positioning (values as of 19th November 2019)

ICE Futures Europe Open Interest (values as of 19th November 2019)