NY 2nd Month Sugar Futures
NY sugar futures edged lower on Friday, with prices closing at 13.84 after slipping back below the 10 DMA at 14.32. The broader structure remains heavy, with futures trading below the 40 DMA at 14.46 and the 100 DMA at 14.85, keeping the medium-term trend skewed to the downside. The stochastics are softening, with %K/%D rolling over from mid-range levels, suggesting fading upside momentum rather than an oversold signal. The MACD remains negative, with the diff marginally below zero and flat, pointing to subdued downside momentum rather than acceleration.
To confirm a renewed bearish phase, futures need to take out support at 14.28, which would expose the recent base near 13.50. A break below this zone would reinforce the broader downtrend. On the upside, any recovery would need to reclaim 14.32 (10 DMA) and then 14.46 (40 DMA) to suggest near-term stabilisation. Until those levels are recovered, rallies are likely to be corrective, and the near-term bias remains cautiously lower.
Ldn 2nd Month Sugar Futures
Ldn sugar futures edged lower on Friday, with prices settling at 409.40, continuing to consolidate below the key moving averages. Futures remain capped beneath the 10 DMA at 419.01 and the 40 DMA at 421.84, while the 100 DMA at 429.41 reinforces the broader downside structure.
The stochastics are falling, with %K/%D sliding deeper towards oversold, while the MACD diff is negative, confirming that downside momentum remains intact despite the recent pause in selling pressure.
To confirm a renewed bearish extension, futures need to break below the 411.60 support, which would expose a retest of the 403.40 low. On the upside, a close back above 419–422 would be required to stabilise the near-term outlook and ease immediate downside pressure. Until then, the structure remains fragile, with rallies likely to meet selling interest.
NY 2nd Month Coffee Futures
NY coffee futures extended losses on Friday, closing at 315.35, with prices decisively below the 10 DMA at 332.62 and the 40 DMA at 345.42. The market continues to track a well-defined downward trend, with the longer-term 100 DMA at 363.39 capping any upside attempts. The stochastics are weak, with %K/%D holding in lower territory and failing to generate a convincing turn higher, highlighting limited appetite for dip-buying at current levels. The MACD remains negative and diverging, reinforcing the persistence of selling pressure.
To confirm further downside, futures need to break below the key support at 314.75, which would reopen downside risk towards the psychological 300 level. On the upside, any meaningful recovery would require a close back above 332.62 (10 DMA), followed by a move towards 345.42 (40 DMA) to ease immediate bearish pressure. For now, the technical structure continues to favour lower prices in the near term.
Ldn 2nd Month Coffee Futures
Ldn coffee futures held firmer on Friday, closing at 4037, as prices continued to stabilise above recent lows. Futures are now testing resistance around the 10 DMA at 4080, while the 40 DMA at 3984 provides nearby trend support. However, the broader structure remains capped by the 100 DMA at 4269, keeping upside attempts contained.
The stochastics are rising, with %K/%D pushing higher, and the MACD diff remains positive, indicating that recovery momentum is still building following the earlier sell-off.
To confirm a stronger recovery phase, futures need to close decisively above 4080, which would open the door towards 4338. On the downside, a failure to hold above the 40 DMA would risk a return towards the lower end of the recent range. For now, momentum favours cautious stabilisation rather than an immediate trend reversal.
NY 2nd Month Cocoa Futures
NY cocoa futures weakened again on Friday, settling at 4226 after failing to sustain rebounds above the 10 DMA at 4474. Prices remain firmly below the 40 DMA at 5512 and well under the 200 DMA near 7235, underlining the dominance of the broader bearish trend. The stochastics are deeply oversold, with %K/%D still subdued, signalling exhaustion in selling pressure but not yet a confirmed reversal. The MACD remains negative, with the diff continuing to diverge on the downside, pointing to persistent bearish momentum despite oversold conditions.
To confirm another leg lower, futures need to break below the recent low at 3988, which would reinforce the bearish continuation signal. On the upside, any stabilisation would first require a reclaim of 4474 (10 DMA), followed by a move back above 4698, to suggest that downside momentum is easing. Until then, the market remains vulnerable to further weakness, with oversold signals alone insufficient to signal a durable recovery.
Ldn 2nd Month Cocoa Futures
Ldn cocoa futures edged marginally higher on Friday, closing at 2953, but remain entrenched within a broader downtrend. Prices continue to trade well below the 10 DMA at 3149 and the 40 DMA at 3932, while the 200 DMA at 5068 highlights the scale of the longer-term downside correction.
The stochastics are subdued, with %K/%D holding in oversold territory, and the MACD diff is firmly negative, signalling that selling pressure remains dominant despite the modest bounce.
To confirm further downside, futures need to take out the recent low at 2769, which would reinforce bearish momentum. On the upside, a recovery back above 3150 would be required to stabilise price action, though the broader technical backdrop suggests any rebounds are likely to remain corrective. The near-term outlook stays weak.
