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  • The net spec long position in raw sugar increased by 27.8k lots to 305k in the week up to the 27th July, as the price broke above 18c/lb, once again.
  • Producers capitalised on this strength to hedge a further 39.2k lots, taking the total commercial short position back above 750k.
  • Since the data was captured, however, the price has fallen back below 17c/lb, which suggests specs are struggling to sustain buying momentum whilst consumer buying interest is weak.
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Jack Haslam

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