White Sugar #5 Dec '24 (SWZ24)
White Sugar #5 Futures Market News and Commentary
October NY world sugar #11 (SBV26) on Monday closed down -0.01 (-0.13%), and October London ICE white sugar #5 (SWV26) closed down -2.70 (-0.57%).
Sugar prices posted modest losses on Monday as they consolidated above last Thursday’s 3-week low.  Prices fell to that 3-week low amid an improvement in India’s monsoon rains. India’s Meteorological Department reported on Monday that India’s cumulative monsoon rainfall was 23% below normal as of July 20, a substantial improvement from 42% below normal on June 30.
An excessively long position in London ICE sugar by funds can exacerbate any price downturn. Last Friday’s weekly Commitment of Traders (COT) data showed funds boosted their long positions in ICE London white sugar by +716 in the week ended July 14 to a record 58,847 net-long positions (data from 2011).Â
Sugar prices have rallied sharply over the past month, with NY sugar reaching a 2.25-month nearest-futures high on July 8 and London sugar posting a 10.5-mon... Read more
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October NY world sugar #11 (SBV26 ) on Monday closed down -0.01 (-0.13%), and October London ICE white sugar #5 (SWV26 ) closed down -2.70 (-0.57%). Sugar...
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