Commodities
Raw Sugar Futures Rally Amid Black Sea Export Disruptions
No.11 raw sugar futures traded higher last week, driven by speculators adding to their long positions.
The No.11 forward futures curve and No.5 forward futures curve have strengthened across the board, with speculators opening 18.9k lots of long positions and reducing their short position by 8.9k lots.
New York No.11 Raw Sugar Futures began at 15c/lb on Monday and settled at 16.5c/lb on Friday.
The market has been supported by ongoing disruption to Black Sea grain exports, which continues to raise concerns over global wheat availability.