ICE Sugar trades at $19.82 per pound, after ending yesterday at $19.83.
United States Producer Price Index is next today at 13:30 UTC.
This uncertain state for the Sugar future is reflected by published market data as United States CFTC Gold speculative net positions released yesterday at 19:30 UTC with a figure of 82,300, while the previous figure was 64599.99999999999. Fresh CFTC Nasdaq 100 speculative net positions data from United States came out at -2,400. United States CFTC S&P 500 speculative net positions released yesterday at 19:30 UTC with a figure of -177,100, while the previous figure was -175,100.
Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, the Relative Strength Index indicates Sugar is currently 'overbought' which suggests new gains will be harder to obtain. Asset volatility analysis shows that Sugar's upper Bollinger Band® is at $19.78, suggesting that a downward move may follow.
Overall, while the Sugar future has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Meanwhile, mixed performances are seen in other Softs as Cotton closed at $84.44 (down 0.98%).
Furthermore, the market is looking at United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at 0.1%; data will be released tomorrow at 13:30 UTC. United States Crude Oil Inventories expected to decline to 1.36 million while its preceding data was 3.92 million, data will be available tomorrow at 15:30 UTC. United States Producer Price Index is expected today at 13:30 UTC.
Having set a significant high of $20.42 3 months ago, the Sugar future is trading 13.97% lower.