NY 2nd Month Sugar Futures
NY sugar futures edged lower on Thursday, closing at 14.61. Despite the softer close, prices remain above the 10 DMA at 14.02, the 100 DMA at 14.39 and the 14.30 support level, but settled just below the 40 DMA at 14.64. This keeps the short-term recovery intact, although the market still needs to reclaim the 40 DMA decisively to confirm further upside.
The MACD diff is positive at 0.0903, suggesting improving momentum, while %K is rising above %D at 79.62 and is close to overbought territory. This supports the recent rebound but also suggests upside momentum may become stretched if prices fail to break higher.
To confirm a stronger recovery, futures need to close above the 40 DMA and build above 14.64, which could open the way towards 15.00 and then the recent high near 16.00. On the downside, a move back below 14.30 would weaken the structure and expose 13.34. For now, NY sugar remains constructive, but confirmation depends on a sustained close above the 40 DMA.
Ldn 2nd Month Sugar Futures
Ldn sugar futures edged lower on Thursday, closing at 438.50. Prices remain above the 10 DMA at 426.43, the 40 DMA at 430.32 and the 100 DMA at 421.90, keeping the short-term structure constructive despite the softer candle.
The MACD diff is positive at 2.1448, while %K is above %D at 79.81 and close to overbought territory, signalling firm upside momentum. However, the market may need fresh buying appetite to extend the move after the recent recovery.
A sustained hold above 434.30 would keep futures supported and could trigger another test of the 460 area. On the downside, a break back below the 10 and 40 DMAs would weaken the recovery and bring 421–420 back into focus. Overall, Ldn sugar remains technically constructive while above 434.30.
NY 2nd Month Coffee Futures
NY coffee futures softened on Thursday, closing at 285.55. Prices slipped back below the 10 DMA at 289.45 and the 40 DMA at 293.11, while remaining well below the 100 DMA at 311.65. The move keeps the market under pressure, with the recent failure to hold above the short-term averages weakening the recovery attempt.
The MACD diff is negative at -0.1679, suggesting renewed downside pressure, while %K is falling below %D at 40.21, pointing to softer short-term momentum. To confirm further weakness, futures need to break below the recent support around 280, which could reopen the downside towards the February lows. On the upside, a close back above the 10 and 40 DMAs would be needed to stabilise the outlook and bring 314.75 back into focus. For now, momentum has turned softer, and the near-term bias remains cautious.
Lnd 2nd Month Coffee Futures
Ldn coffee futures declined on Thursday, closing at 3361. Prices moved back below the 10 DMA at 3408 and remain below the 40 DMA at 3479 and the 100 DMA at 3715, keeping the broader structure bearish despite the recent bounce from the 3166 support area.
The MACD diff is positive at 20.12, suggesting downside momentum has eased, but %K is turning lower below %D at 55.90, indicating that the short-term recovery is losing momentum. A sustained break below 3300 would expose the 3166 support level again, while a close back above the 10 DMA would help stabilise prices. To confirm a more meaningful recovery, futures need to reclaim the 40 DMA at 3479, which could then open the way towards 3715. For now, Ldn coffee remains vulnerable while trading below the key moving averages.
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.
