Insight Focus
The No.11 raw sugar futures continued trading sideways last week. Both producers and end-users have increased their positions. The no.5 forward futures curve has flattened across the board.
New York No.11 Raw Sugar Futures
It was another week of sideways trading for the No.11 raw sugar futures. which started the week at just under 15c/lb and closed at 14.7c/lb on Friday.
On the commercial side end-users and producers alike have been active, with end-users adding 9.1k lots of long positions while producers increased their commercial short position by 5.5k lots of shorts.
Speculators have continued to close out their long position, while increasing their short position by 9.8k lots.
The net-short position now stands at -203,168.
London No.5 Refined Sugar Futures
Refined sugar futures started the week at USD 427.8/tonne as it then declined throughout the week, settling at USD 418.9/tonne on Friday.
White Premium (Arbitrage)
The H/H white premium traded between USD 96-98/tonne for most of the week, except for Friday when prices settled at USD 94.2/tonne.
