Jul09 ICE sugar futures are back above the 14 cent mark (which is the highest since Oct08) as more uncertainties surrounding India’s stocks, as well as their domestic requirements, have been getting more attention from traders. Increased Indian imports will serve to take additional available sugar off of the physical market by mid year, [...]
As (northern hemisphere) summer approaches, attention in the ags space naturally starts to focus more on weather expectations. Over the coming months, I will be giving talks at numerous international commodity conferences of various sizes, addressing the Weather Trends outlook and how this fits into the global commodity outlooks for both agriculture and energy. Next [...]
The numbers on the ICE May09 sugar futures chart above indicate where we had made statements in our weekly updates regarding our short and long term views on the world sugar market. The WTI views are based on an integration of information relevant to global commodity markets, including short and long range weather outlooks, [...]
News has been focusing on US corn planting weather (delays); the cooler pattern will extend into next week as the WTI forecast below shows. This map depicts the weekly minimum temperature forecast for the 16-22 Apr period, vs. the same week of last year; primary corn growing regions are shaded. The colder pattern [...]
May09 ICE sugar futures had a very strong move up on a combination of spec buying and covering short positions, putting the nearby once again above the 13 cent mark. Activity on the energy and equities spaces helped with last week’s rally, which as of early Monday, appears to be following through into this [...]
May09 sugar futures have been sliding since last week following market news describing a potential rebound in Indian production coupled with lower projections for crude oil futures. However, $50+ crude is still expensive oil making cane-derived ethanol an attractive option for Brazilian mills. In addition, despite additional sugarcane plantings by opportunistic Indian growers, [...]
