Author: Michael Ferrari, PhD
VP, Applied Technology & Research
Now that raw sugar futures have scaled back to the mid 20-cent range (a move that we have been anticipating), we have an even stronger conviction about a constructive pattern going forward. There is still a downside target for May to drop to the upper 24 cent range; [...]
Author: Michael Ferrari, PhD
VP, Applied Technology & Research
Here is the discussion of the world sugar markets that was communicated earlier this week:
World sugar futures continue to trade in the range that WTI has been discussing, as the market comes to grips with the fact that, while a global shortage in physical supply still exists, we [...]
as expected, stocks (slightly) higher than LY and 5 yr ave
EIA Natural Gas Storage Data
Release 18 Feb 2010
Total (02/12/10): 2025 Bcf
Total (02/05/10): 2215 Bcf
Change: -190 Bcf
%diff to LY: +1.3%
5ya stocks: 1972
%diff to 5ya: +2.7%
Author: Michael Ferrari, PhD
VP, Applied Technology & Research
The Australian Bureau of Agricultural and Resource Economics (ABARE) lowered their estimate for the the Australian wheat crop (2009/10 crop year) to 21.656 mmt; this is down from their previous number of 21.99 mmt. Mid-crop heat stress was followed heavy rains.
Author: Michael Ferrari, PhD
VP, Applied Technology & Research
Hopefully, readers of the WTI weekly sugar report were able to take advantage of our thoughts conveyed in last week’s discussion. The deficit in global stocks notwithstanding, we did think that the market was due for a mild correction, as much of the speculation over increasing shortages [...]
Author: Michael Ferrari, PhD
VP, Applied Technology & Research
Per monday’s note, spot sugar futures coming down:
