This wk, price posted a gain of 2.2%, first since March 18

NOTE: Trader Czarnikow says world may be heading for the biggest shortage of sugar in seven yrs
 
“The bulls may also have been encouraged by reports of some physical off take appearing at these levels,” James Liddiard, partner at Agrilion Commodity Advisers in New York, says in an e-mailed note

While Brazilian farmers are set to collect a bigger harvest, crop problems in other major producers such as China, Central America, the EU, India, Thailand and Southern Africa, are supporting prices, he says

Eoin Treacy's view

Sugar prices been the subject of quite a lot of volatility but found support this week in the region of the 200-day MA to reassert medium-term demand dominance. A sustained move below the MA would be required to begin to question potential for additional upside. 

Sugar isn’t the only soft commodity worthy of mention. Corn prices surged over the last three day to break to new highs for the year. 


Soybeans continues to extend its breakout. 


Meanwhile both Arabica and Robusta coffee and cotton are trading in the region of the MAs following lengthy downtrends.