http://strataconf.com/stratany2011

from Naval Research Lab

Current satellite showing a lull over cane regions.  Also, overnight sugar up almost 6%

Last week’s rainfall totals in India’s sugarcane regions has been light in both growing belts; see IMD map below.

 Current water vapor satellite is showing less activity in more weak activity & this supports the JulAug dryness that the Weather Trends long range forecast had predicted for this period.  With tight physical supply, this is constructive for #11 futures.

The Food and Agricultural Organization’s Food Price Indices through June are shown below.  Note the move in sugar since May; many of the reasons for this upward move have been discussed and anticipated in our weekly reports over the last few months.  Most recently, a widely distributed estimate from Canaplan for the Brazilian Centre-South crop has put the current crop at 520 mmt.  UNICA’s mid July estimate for the C-S region was 533+mmt. 

October sugar trading at 31.06 this morning (+4%)

24 hour forecast from wt360