• The net spec position in raw sugar has continued to grow, but at a slower rate than previous weeks, increasing by 8k to 252k lots long.
  • Commercials increased both their short and long positions, by 25.6k and 11.9k lots respectively, taking the commercial short closer to record levels.
  • Since the data was gathered, the No.11 price has risen but failed to break through 15c, so all eyes are on speculators to see if they can generate enough momentum to push price higher, where we could start to see pressure on producer hedges.
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Jack Haslam

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