Monday, 03 December 2018
The past week in raw sugar could be viewed as a game of two halves. The first half of the week saw slow, low-volume trading sub 12.50c/lb on the prompt down to 7-week lows. However, the tide turned about halfway through Wednesday’s session, with prices taking a sharp turn higher. Spec short covering (buying) met with little commercial selling resistance and allowed the MAR19 contract to pop above the 13-cent level before retreating slightly at the end of the week.