International Sugar Market Report 24th August 2017

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Futures were a little higher in London and mixed New York in consolidation trading. It looked like the London market has found some Support, but it has been the weaker market for the last few weeks. Both markets failed to overcome nearby resistance, but both remain poised to try to move higher in the short-term. Most view the rally as just a short-term correction of the recent down trend. Prices have fallen a lot already due to ideas of increased production in the coming year, so some type of correction trading is possible. The big harvest in Brazil continues, and ideas of big offers from there have been a reason for prices to stay pinned near 1300 New York October.

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