- Raw sugar producers have been hedging/selling into the recent strength in the futures market.
- This strength has been driven by speculative shorts buying back their positions…but we are now also seeing new spec long positions being opened.
- Most producers around the world are well-hedged for 2020; if the producer slows down and the speculative buying continues we could be in for an interesting few weeks.
ICE No.11 Futures Speculative Positioning (values as of 19th May 2020)
ICE No.11 Futures Commerical Positioning (values as of 19th May 2020)
ICE No.11 Futures Open Interest (values as of 19th May 2020)
ICE Futures Europe Open Interest (values as of 19th May 2020)
