• The net spec position in raw sugar again surpassed 200k lots after falling below in the middle of December, coinciding with prices again breaking the 15c/lb mark.
  • This increase was driven by the opening of new long positions by speculators, and this buying appears to have continued as prices traded above 16c yesterday.
  • Producers, who have been happy to sell with prices strengthening, have facilitated this buying.  
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Jack Haslam

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