NY 2nd Month Sugar Futures
NY sugar futures edged lower on Thursday to settle at 13.99, keeping the market pinned near recent lows after the prolonged decline. The contract remains below all key moving averages: the 10 DMA at 13.92, 40 DMA at 15.06, and 100 DMA at 16.15, so the broader structure stays clearly bearish. The MACD diff is positive (around +0.06), signalling that downside momentum is starting to soften even as prices remain under pressure. Stochastics are rising out of oversold, with %K near 38 above %D around 26, pointing to improving short-term momentum and tentative basing attempts. Initial resistance is at the 10 DMA, followed by the 40 DMA at 15.06; a close above the latter would be needed to confirm recovery potential. On the downside, support is located around 13.70, then more firmly near 13.00. Overall, the market remains weak in trend terms, but momentum indicators hint at an emerging base while futures hold above the recent low.
Ldn 2nd Month Sugar Futures
London sugar futures softened on Thursday, closing lower at 412.60. Despite the weaker settle, the momentum backdrop is improving: stochastics are rising from oversold, with %K above %D, signalling recovering short-term momentum. The MACD diff is positive, showing that while both MACD lines remain below zero, downside pressure is beginning to fade as the market attempts to base after the extended slide. Price action has edged back above the 10 DMA at 409.76, but remains capped by the 40 DMA at 434.19 and 100 DMA at 454.58, leaving the broader trend firmly bearish and rallies vulnerable to selling interest. A close above 434.30, followed by a break through the 40 DMA and then 464.00, would be needed to suggest a more durable shift in tone. On the downside, the recent low at 403.40 is the first key support; a close beneath this level would reinstate the downtrend and open the way towards the 400 area and below. For now, momentum indicators point to stabilisation, but the overarching structure remains heavy with significant overhead resistance.
NY 2nd Month Coffee Futures
NY coffee futures softened on Thursday, closing at 374.25. Prices remain above the 40 DMA at 371.35 and the 100 DMA at 345.14, but have slipped below the 10 DMA at 389.70, reflecting near-term fatigue within a still broadly constructive structure. The MACD diff is negative (–0.68), with the MACD line now below the signal line, confirming waning upside momentum. Stochastics have turned lower, with %K at 48.52 below %D at 56.69, reinforcing the softening bias. Support lies at 371.35 (40 DMA) and 345.14 (100 DMA), while resistance is at 384.70 and 393.00. While the medium-term trend remains upward, momentum signals suggest a short-term correction phase may continue unless the market regains traction above the 10 DMA.
Ldn 2nd Month Coffee Futures
London robusta weakened on Thursday, closing at 4334, slipping back toward the key support band. The stochastics are softening, with %K falling below %D, pointing to fading upside momentum. The MACD diff is negative, consistent with a loss of near-term strength. Prices have slipped back below the 10 DMA at 4573 and now sit marginally under the 40 DMA at 4446, though they remain above the 100 DMA at 4106. This leaves the broader structure neutral-to-constructive but with signs of stalling after repeated failures to sustain gains above 4664. A decisive break above 4664 is still required to re-establish upward traction and open a move toward 5369. On the downside, the market is once again testing support at 4338; a close below this level would put the focus back on the 100 DMA at 4106 and signal a more meaningful deterioration in the short-term outlook. Near-term tone is cautious, with risk tilted toward further consolidation or drift lower unless resistance is reclaimed.
NY 2nd Month Cocoa Futures
NY cocoa futures weakened further on Thursday, closing at 5654, extending their recent downtrend. The market remains below all key averages: the 10 DMA at 6302, 40 DMA at 6377, and 200 DMA at 8137, confirming a decisively bearish structure. The MACD diff is negative (–24.11), consistent with continued downside momentum. The stochastics are falling, with %K at 19.61 below %D at 34.82, reinforcing oversold conditions without yet showing signs of reversal. Resistance is located at 6,210 and 6720, while support is seen near 5500. The setup remains clearly bearish, with weak momentum indicators and no confirmation yet of a base; further pressure towards recent lows remains likely unless a rebound develops above the 10 DMA.
Ldn 2nd Month Cocoa Futures
London cocoa softened on Thursday, settling at 4133 as the market continues to trade within its broader downtrend. The stochastics have rolled lower, with %K below %D, indicating that the recent uptick in momentum has faded. The MACD diff is positive, but flattening, signalling that downward momentum has slowed but not yet reversed. Prices remain capped by the descending trendline and continue to trade below the 10 DMA at 4275, 40 DMA at 4482, and 200 DMA at 5865, leaving the dominant trend firmly bearish. The rejection from 4489.87 earlier in the week reinforces the strength of overhead resistance. Immediate support lies at 4096, and a close beneath this would likely encourage a retest of the recent lows and confirm a continuation of the broader downtrend. For any improvement in tone to materialise, futures must first reclaim 4296, with a break above 4689 required to trigger a more substantive recovery. For now, price action remains weak and momentum signals have turned lower again.
