Author: Michael Ferrari, PhD
VP, Applied Technology & Research
Last week’s call for a stronger downside move materialized, and further verified the view that we have been pushing since late November of last year. May10 futures are currently below our recent downside target of 23 cents; as such, we are advising clients to look at the [...]

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 [...]

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: