International Sugar Market Report 27th Novembert 2017

Sugar Market Commentary:

• General Comments:

  Futures were lower in both New York and London again yesterday. Futures have now fallen back into the recent range. Chart patterns are more neutral now due to the weakness in futures as a breakout higher seems to be failing. Brazil features reduced sugarcane crush and continued emphasis on ethanol production and reduced Sugar production as it moves to cover domestic demand at the expense of exports. Trends are turning up in London and in New York after the price action last week on ideas of reduced availability of Sugar to the market. There have been no big demand reports, and the lack of demand against ideas of big world production are keeping the market in a fundamentally bearish mode. Even so, the charts in both New York and London imply that higher prices are still possible

• Overnight News:

  Brazil should feature showers and storms this and next week and drier weather this weekend. Temperatures should be near to above normal today and tomorrow, then near to below normal

• Chart Trends:

  Trends in New York are mixed. Support is at 1480, 1460, and 1430 March, and resistance is at 1520, 1550, and 1580 March. Trends in London are mixed. Support is at 383.00, 380.00, and 377.00 March, and resistance is at 393.00, 396.00, and 399.00 March.

Landon Sugar # 5 Closing
Month	Settle	Change	High	Low	Total Vol.
Mar 18	397.10	2.3	397.90	394.00	3573.00
May 18	399.70	1.1	400.80	397.80	1390.00
Aug 18	404.10	1.3	404.80	401.90	442.00
Oct 18	405.80	1	406.50	404.30	90.00
Dec 18	410.90	0.2	411.30	410.70	58.00
Dated: November 24, 2017			Source: ICE

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