NY 2nd Month Sugar Futures
NY sugar futures edged higher on Thursday, closing at 13.89 as prices continued to rebound from recent lows. The contract has reclaimed the 10 DMA at 13.79, but remains below the 100 DMA at 14.40 and the 40 DMA at 14.58, leaving the broader structure fragile despite the latest improvement.
The stochastics are rising, with %K above %D and moving out of oversold territory, suggesting that short-term downside momentum is easing. However, the MACD diff remains negative, indicating that selling pressure has not fully cleared. This makes the latest recovery constructive, but not yet enough to confirm a sustained upside reversal.
To confirm a stronger recovery, futures need to hold above the 10 DMA and then break back above the 14.30 level, which would open the way towards the 100 DMA and 40 DMA. On the downside, failure to sustain the move above the 10 DMA would expose support at 13.34 again. For now, NY sugar is showing early signs of stabilisation, but the broader tone remains cautious while prices remain below the longer-term averages.
Ldn 2nd Month Sugar Futures
Ldn sugar futures edged higher on Thursday, closing at 425.00 and extending the recovery from recent lows. Prices are now above the 10 DMA at 416.97 and the 100 DMA at 421.38, but remain just below the 40 DMA at 426.96, which is the immediate resistance level to watch.
The stochastics are rising, with %K above %D, signalling improving near-term momentum. However, the MACD diff remains negative, suggesting that the recovery has not yet been fully confirmed by trend momentum. The latest candle is constructive, but the market still needs to break cleanly above the 40 DMA to strengthen the upside outlook.
A close above the 40 DMA would open the way for a retest of 434.30. On the downside, a move back below the 100 DMA and 10 DMA would weaken the structure and bring 392.65 back into focus. Overall, Ldn sugar is stabilising, but confirmation of a stronger recovery depends on whether futures can reclaim the 40 DMA.
NY 2nd Month Coffee Futures
NY coffee futures edged higher on Thursday, with a firm green candle taking prices to 300.35. The move pushed futures back above the 10 DMA at 292.26 and the 40 DMA at 292.28, improving the short-term structure, although prices remain below the 100 DMA at 316.02.
The stochastics are rising, with %K above %D, suggesting renewed upside momentum. The MACD diff has also turned slightly positive, indicating that selling pressure is easing and that the recent rebound is gaining some confirmation. To extend the recovery, futures need to hold above the 10 and 40 DMA area and then break above 314.75, which would open the way towards the 100 DMA and the 326.75 level. On the downside, a move back below 292 would weaken the recovery and bring the 280 area back into focus. For now, NY coffee is showing a more constructive near-term tone, but confirmation still depends on a break through the next resistance zone.
Lnd 2nd Month Coffee Futures
Ldn coffee futures also strengthened on Thursday, closing at 3507 after a firm move higher. Prices are now above the 10 DMA at 3347 but are testing the 40 DMA at 3510, while remaining below the 100 DMA at 3757. This suggests that the market is recovering from recent lows, but the broader trend has not yet fully turned.
The stochastics are rising, with %K above %D and moving towards overbought territory, signalling stronger short-term buying momentum. The MACD diff is positive and increasing, adding confirmation that downside pressure has faded. A close above the 40 DMA would strengthen the recovery outlook and open the way towards the 100 DMA at 3757. On the downside, failure to clear the 40 DMA could leave futures vulnerable to a pullback towards the 10 DMA at 3347, with 3166 remaining the key support below. Overall, Ldn coffee is improving, but a clear break above the 40 DMA is needed to confirm a stronger recovery.
NY 2nd Month Cocoa Futures
NY cocoa futures edged higher on Thursday, closing at 3458. Prices are above the 10 DMA at 3422 and the 40 DMA at 3291, but still well below the 200 DMA at 5632, keeping the broader trend bearish despite the short-term recovery.
The MACD diff is positive and rising, while %K is below %D around the 50 level, suggesting momentum is improving but not yet decisively bullish. Futures need to hold above the 40 DMA to maintain the recovery bias, with a move above recent highs opening the way towards 4344.76. On the downside, a break back below the 40 DMA would weaken the structure and expose the 2846 low again. For now, NY cocoa is stabilising, but the market needs stronger upside confirmation to challenge broader resistance.
Ldn 2nd Month Cocoa Futures
Ldn cocoa futures also edged higher, closing at 2575. Prices are above the 10 DMA at 2520 and the 40 DMA at 2399, but remain far below the 200 DMA at 3971, so the recent move still looks like a short-term rebound within a broader downtrend.
The MACD diff is positive, although flattening, while %K is slightly above %D around the upper-50s, suggesting modest upside momentum. Holding above the 10 and 40 DMAs would keep the recovery intact and open the way towards 3000. On the downside, a move back below the 40 DMA would undermine the recent stabilisation and bring 2050.82 back into focus. Overall, Ldn cocoa is improving in the near term, but stronger closes above current levels are needed to confirm a more meaningful recovery.
