Wt Sugar Discussion Threads

[mcbeanburger] 13/1/2010 21:33

agrimoney is a good site hec.

[hectorp] 13/1/2010 16:00

I see. Well you can go out and enjoy a glass of genever and look out over the Prinzengracht instead.
I've gone large this AM on the contracts, in for a serious effort.
H.

[mcbeanburger] 13/1/2010 09:48

could but as i am in amsterdam, not really worth it! there are fut contracts but volume appears low and they are in the delay (need to spend some money if i want it reall time).

[hectorp] 13/1/2010 09:43

I'm glad you're not short McBean that would bother me!
Can't you use spread bet sugar?

[mcbeanburger] 13/1/2010 09:26

sugar charts look good here... shame i don't have an instrument to trade it.

[hectorp] 13/1/2010 08:50

Got back in to spread bet long at 726, ( March London Sugar) still some convincing reasons the market could have a fair upside to go. Stop loss 30 points.

[oltend] 12/1/2010 22:49

March Sugar Up, Bounces Off Lows 12/01/10 @ 0822 EST - ICE world raw sugar futures are higher as prices bounce technically from the lows, an area that is uncovering buying interest, a broker says. The three-session decline in raw sugar futures took March to a low of 26.70 cents, where it located technical support and bounced. India has proposed measures to discourage the hoarding of sugar by reducing the period for stocking the commodity by bulk buyers to 7-10 days from 15, which is expected to help boost domestic supplies. Philippines plans to import around 120,000 metric tons of refined sugar to help stem rising prices on the local market. Indonesia bought 147,500 tons of white sugar as part of its overall plan to import 500,000 tons between Jan. 1 and April 15. ICE March sugar is is up 32 points at 27.07 cents a pound.

[oltend] 12/1/2010 20:44

So a few quid in the leveraged fund - LSUG - could be a good place for money you can afford to lose. A gamble of course, but the risk/reward balance seems favourable.

[hectorp] 04/1/2010 18:10

still strong, and ongoingly so. Maybe a further great spike yet to form...

Better get a new long in. That will signal the turndown lol.

[bobdouthwaite] 17/12/2009 10:11

Sugar approaches 28-year high on economic outlook and supply limits
NEW YORK -- Sugar futures rose, approaching the highest level in 28 years, on speculation that the economic recovery will boost commodity demand and supplies of the sweetener will remain limited in the first half of 2010.

[yannick17] 15/12/2009 11:19

from the ft...

Asian sugar rush to all-time peak
By Javier Blas in London
Published: December 14 2009 11:30 | Last updated: December 14 2009 22:16

White sugar prices in London hit a fresh all-time high on Monday, supported by signs that Asian countries are buying refined quantities of the sweetener to cover domestic shortfalls.

The sugar rush came as the cost of so-called breakfast commodities, including cocoa and orange juice, also moved sharply higher.

In London, Liffe March white sugar jumped 4.1 per cent to a record high of $651.7 a tonne. White sugar prices have risen 98.5 per cent since January.

The gains were further aided by talk of lower sugar output in Brazil, the world's largest producer.

In New York, ICE March raw sugar rose 4.8 per cent to 25.10 cents per pound, the first time a front-month contract has traded above 25 cents since early 1981.

Sugar brokers and traders said the gains come as physical supplies tightened and there was a perception that some importers, notably India, had a "little more urgency" to buy.

Analysts and some big trading houses, including Cargill and Glencore, are bullish for sugar prices in the first half of 2010.

"Near-term, the sugar market is tight," said Tobin Gore, a soft commodities analyst with JPMorgan in London. "Consequently, there is still a material risk that we'll see prices for March and May 2010 approach 30 cents for a time," he said, adding that the downside risk appeared limited to the 20 cents level.

Brazil yesterday said its sugar production in 2009-10 was likely to drop to 34m tonnes, sharply down from an official forecast of 36.7m tonnes issued in September.

The market had already anticipated lower production due to bad weather.

The strength of white and raw sugar was mirrored by other soft commodities.

[bobdouthwaite] 15/12/2009 09:28

DJ ICE Sugar Review: Fundamentals Support Push To 11-Week High

DOW JONES NEWSWIRES


ICE futures U.S. world raw sugar futures continue to tack on new highs amid a
bullish fundamental picture that includes strong demand and tight supplies.

The most-active March contract settled at 25.28 cents per pound, up 128
points. Earlier the contract jumped to an 11-week high of 25.40 cents. May
settled at 24.12 cents, up 105 points. Upside resistance is pegged at 26.25
cents set in September, or 27.36 cents after that.

The market was driven by a strong fundamental picture where tight supplies
and continued demand are the main focus, brokers said. In Brazil, the world's
largest sugar producer and exporter, both quality and quantity of this season's
sugarcane crop will be adversely affected by the heavy rain falls, reported WSI
AgTrader. In India, the country's annual sugar harvest is the second
consecutive annual crop that is forecast to come in well below average and
lower than its consumption needs.

Alex Oliviera, analyst at Newedge, said the delay of delivery of sugar is
keeping futures prices in a steady uptrend. "We also saw fund buying due to the
tight credit situation," said Oliviera. In addition, the sugar market received
help from a weak dollar and firm equities market.

The dollar was lower versus most of its rivals after news that Dubai received
a $10 billion bailout from neighboring emirate Abu Dhabi to pay part of the
debt held by Dubai World.

In news from Brazil, sugar and ethanol mills in the country's main
center-south sugar cane region that plan to extend their harvest this season
will face continued wet weather and potential damage to the crop.

Many mills in Brazil's center-south sugar cane region, which accounts for
about 90% of the country's cane, were hampered by above-average rain this
season that curtailed harvest, which typically begins in April and ends in
November or December.

The period from December to the start of the next harvest, called the
interharvest period, is typically a time when mills stay out of the fields, but
the delays caused by wet weather are prompting many to continue cutting.

[bobdouthwaite] 15/12/2009 09:25

I'm not so sure Hectorp - there seem to be growing concerns in recent days about Brazil's ability to deliver.

[hectorp] 14/12/2009 23:56

Now 650 ... took my eye off it late October... need a better monitoring system.
Maybe overbought now.

[hectorp] 16/10/2009 14:06

BAck in at 598p.. downtrend was reversed yesterday. Will see how a couple of days goes.

[bobdouthwaite] 10/10/2009 17:41

I guess it may depend on news of the Brazilian harvest, where there's been too much rain. Fwiw, I'm still in.

[yangou] 10/10/2009 14:43

Seems down for now gdennet. Out at the moment but made loss changing from ETFS to suga 11 on spread bet. but there may be a time to get back in. If oil price keeps high and some more wind gets up then it could take off again. I had hoped for much higher than it has but this may be just a pause. Waiting now for news from tipster.

[gdennett] 09/10/2009 18:00

any ideas where this is going

[yangou] 07/10/2009 16:24

Is sugar turning sour on us now?

[hectorp] 02/10/2009 12:45

Shame about the drift again, but will look to enter sugar long if we see suport at 570-580 hold.
I'm amused that sugar may fall because the markets are weaker: US and European consumers would go to the theatre less, but they would buy more sugary stuff. THe poor always eat more sugar goods.
So.. I dont buy that.

[yangou] 01/10/2009 16:00

The way it is going just now might put another £1/point into it sometime soon

[yangou] 01/10/2009 13:39

Good on you Hector. possibly should have done that yesterday myself but this market just now is so volatile. But in for the longer term so not to bothered. Did add another £1 a point though yesterday when it was down for a while.

[hectorp] 01/10/2009 13:19

I took gains this morning and now its down 9. Back in .. at 1.00pm.