NY 2nd Month Sugar Futures
NY sugar futures fell on Thursday, settling at 15.49. Despite this, futures continue to trade above the 10 DMA at 15.47, the 40 DMA at 14.89 and the 100 DMA at 14.50, highlighting that the broader recovery structure remains intact. The pullback follows a sharp rebound from the April lows, suggesting consolidation rather than a reversal. The stochastics are elevated, with %K/%D holding in the upper range and starting to ease, pointing to slowing upside momentum. The MACD diff remains positive and stable, indicating that underlying buying pressure persists, even as momentum moderates.
To confirm a deeper pullback, futures need to fall back below the 10 DMA and then test support at the 40 DMA at 14.89. A break below this level would shift the focus towards 14.30. On the upside, maintaining support above the short‑term averages and closing above 15.70 would be required to reassert upward momentum and open a move towards 16.00. For now, the market appears to be consolidating after recent gains, with the broader bullish structure still in place but upside momentum cooling.
Ldn 2nd Month Sugar Futures
London sugar futures fell on Thursday, closing at 442.50, with a notable negative daily change, signalling a softer session despite holding near recent highs. The candle shows a pullback after recent strength, indicating some near‑term pressure. Futures remain above the 10 DMA at 441.10, the 40 DMA at 435.77 and the 100 DMA at 423.71, confirming that the recovery structure remains intact. The stochastics are moderating, with %K/%D rolling over from higher levels, suggesting that buying momentum is easing. The MACD diff remains positive, but is no longer clearly extending, pointing to stabilisation rather than acceleration.
To confirm further downside, futures need to break back below the 10 DMA and then test the 40 DMA at 435.77. A move below this level would expose a deeper retracement towards 423. On the upside, a sustained break above 445 would allow a retest of the recent highs near 460. For now, the price action reflects consolidation after a strong recovery, with indicators suggesting that momentum is slowing but not yet reversing.
NY 2nd Month Coffee Futures
NY coffee futures edged lower on Thursday, closing at 275.70, with the session extending the recent weakness and reinforcing the broader downtrend. Futures remain below the 10 DMA at 281.25, the 40 DMA at 290.43, and the 100 DMA at 303.46, confirming that rallies continue to be capped by key resistance levels. The latest candle highlights continued selling pressure, with no sustained attempt to reclaim short‑term averages. The stochastics are subdued, with %K/%D holding in the lower range, suggesting limited upside momentum. The MACD diff remains negative, indicating that selling pressure persists.
To confirm continuation of the downside move, futures need to take out support around 270 and then break below the recent lows near 265, which would open the way towards 260. On the upside, recovery attempts need to regain the 10 DMA and then the 40 DMA to ease immediate pressure, with a move above 290 required to signal a more meaningful shift. For now, the structure remains weak, with persistent downside risks and only limited signs of stabilisation.
Lnd 2nd Month Coffee Futures
Lnd coffee futures edged lower on Thursday, settling at 3487, as prices pulled back after recent stabilisation and failed to build on gains seen earlier in the week. While the session printed a softer close, futures remain marginally above the 10 DMA at 3440 and the 40 DMA at 3434, suggesting that near‑term support is still holding. However, prices continue to trade below the 100 DMA at 3665, keeping the broader structure tilted to the downside. The stochastics are elevated, with %K/%D in the upper range and beginning to flatten, indicating that upside momentum is losing traction. The MACD diff remains positive but is no longer widening, pointing to a slowdown in buying pressure rather than acceleration.
To confirm a renewed move lower, futures need to slip back below the 10 and 40 DMA confluence around 3440–3430, which would expose support at 3166. A break below this level would reinforce the broader bearish structure. On the upside, a sustained move above 3550 is needed to rebuild momentum, with a push towards the 100 DMA required to stabilise the medium‑term outlook. For now, price action reflects hesitation after a minor recovery, with indicators signalling fading momentum rather than a clear directional shift.
NY 2nd Month Cocoa Futures
NY cocoa futures edged lower on Thursday, settling at 4272, with the session printing a red candle as prices pulled back following the recent recovery. Despite the decline on the day, futures remain above the 10 DMA at 4226 and well above the 40 DMA at 3567, confirming that the short‑term rebound structure is still intact. However, prices continue to trade below the 200 DMA at 5353, keeping the broader trend corrective. The stochastics are elevated, with %K/%D in the upper range and beginning to turn lower, signalling that upside momentum is losing pace. The MACD diff remains positive and elevated, indicating that underlying buying pressure is still present, although the pace of improvement is slowing.
To confirm a deeper pullback, futures need to break below the 10 DMA, which would expose support around the 4000 level and then the 40 DMA. A move below this zone would weaken the recovery structure and shift focus back towards the 3500 area. On the upside, a renewed push above 4400 would be required to resume upward momentum, with a break higher opening the way towards 4700. For now, the pullback appears corrective within a broader recovery phase, but momentum indicators suggest the rally is losing strength.
Ldn 2nd Month Cocoa Futures
