• The net spec position in raw sugar fell by 30k lots in the week up to the 1st of December, the largest weekly fall since the start of September as specs closed longs and opened new shorts in almost equal measure.
  • This is the second consecutive week the net spec long has fallen, which has put pressure on price, reducing it by over 100 points since highs of 15.5c/lb seen in mid-November.
  • The spec selling was matched by producers, who bought to cut the gross commercial short position by 29k lots.
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Jack Haslam

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