International Sugar Market Report 8th August 2017

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Futures in London and New York were lower as disappointed longs liquidated positions. It still looks like the market has now turned trends up and that good speculative buying might be seen on further any price weakness, but the failure to hold above 1500 October has been noted and might be a reason for more selling this week. The big harvest in Brazil continues, but some of the processing will probably switch now to ethanol due to tax changes this week. The harvest pace has been below last year until now, but is now above a year ago.

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