NY 2nd Month Sugar Futures
NY sugar futures traded in a volatile range on Tuesday but settled largely unchanged at 14.90, down just 0.04 on the session. The wide intraday candle reflects uncertainty, with prices swinging but ultimately closing near the previous session's level. Futures are trading just below the 10 DMA at 14.96 but remain above the 40 DMA at 14.69 and the 100 DMA at 14.54, suggesting the broader recovery structure is intact despite near‑term indecision.
The stochastics are turning higher from lower levels, with %K at 32.08 above %D at 26.63, indicating that downside momentum may be easing. However, the MACD diff is negative at -0.09 and widening, pointing to underlying weakness that has yet to reverse.
To confirm a recovery from recent softness, futures need to close above the 10 DMA at 14.96 and then push through 15.30 to re‑establish upside momentum. On the downside, a break below the 40 DMA at 14.69 would signal deterioration and expose the 100 DMA at 14.54, with a move below the 14.30 support bringing the April low at 13.34 back into focus. For now, the volatile but flat session reflects a market searching for direction, with the indicators sending mixed signals.
Ldn 2nd Month Sugar Futures
London sugar futures also traded in a volatile session on Tuesday, closing at 440.00, down 4.50 on the day but holding within the recent range. The wide intraday candle shows both buying and selling interest, with the market ultimately settling close to where it started. Futures remain above the 10 DMA at 437.99, the 40 DMA at 432.07 and the 100 DMA at 425.42, confirming that the broader recovery from the 393.80 low is still supported.
The stochastics are rising, with %K at 51.79 above %D at 41.93, suggesting that momentum is improving from mid‑range levels. The MACD diff is negative at -0.53, indicating that near‑term momentum remains subdued despite prices holding above key averages.
To confirm further upside, futures need to hold above the 10 DMA and break through resistance around 445, which would open the way towards the mid‑450s. On the downside, a loss of the 10 DMA would shift focus to the 40 DMA at 432.07, with a break below this level exposing the 100 DMA at 425.42. For now, the volatile but ultimately flat session highlights a market consolidating within the recovery structure, with the indicators gradually improving but lacking clear conviction.
NY 2nd Month Coffee Futures
NY coffee futures fell on Tuesday, settling at 252.85, with a decline of 1.35 on the session as prices broke below the key support at 255.65. The move confirms a deterioration in the technical picture, with futures now trading below all key moving averages: the 10 DMA at 261.39, the 40 DMA at 279.76 and the 100 DMA at 294.37, and beneath the support level that had been holding the market since the recent downturn. The break below 255.65 is significant and shifts focus to fresh downside targets.
The stochastics are deep in oversold territory, with %K at 14.08 below %D at 20.58, confirming that downside momentum remains dominant. The MACD diff is negative at -1.00 and widening, indicating that selling pressure is building rather than easing.
To confirm continuation lower, futures need to remain below 255.65 and push towards the 250 area, with a break below this level exposing further downside towards 240. On the upside, a recovery back above 255.65 and the 10 DMA at 261.39 would be needed to signal that the breakdown was a false move and ease immediate pressure. For now, the breach of key support marks a bearish development, with the indicators offering little evidence of stabilisation.
Lnd 2nd Month Coffee Futures
London coffee futures edged higher on Tuesday, closing at 3335, with a modest gain of 20 on the session as prices found tentative support after recent weakness. Despite the slight rebound, futures remain below the 10 DMA at 3366 and the 40 DMA at 3378, while the 100 DMA at 3604 continues to cap the broader outlook. The small green candle reflects a pause in selling rather than a decisive recovery, with prices still confined below key averages.
The stochastics are subdued, with %K at 31.78 below %D at 33.71, suggesting that momentum remains weak despite the marginal improvement. The MACD diff is negative at -6.36 and widening, indicating that underlying selling pressure is still present and building.
To confirm a stronger recovery, futures need to reclaim the 10 DMA and then push above the 40 DMA at 3378, which would open the way towards 3500. On the downside, a failure to hold current levels and a break below 3200 would refocus attention on the key support at 3166. For now, Tuesday's slight rebound offers tentative relief, but the broader structure remains weak and the market needs to reclaim short‑term averages to signal a shift in momentum.
NY 2nd Month Cocoa Futures
NY cocoa futures rebounded strongly on Tuesday, settling at 4184, with a gain of 5.55% and a large green candle confirming a decisive recovery on the session. The move took prices back above the 10 DMA at 4043 and further above the 40 DMA at 3789, signalling that near‑term momentum has improved meaningfully after the recent downturn. However, futures remain well below the 200 DMA at 5116, keeping the broader corrective structure in place.
The stochastics are rising, with %K at 49.11 moving above %D at 42.52, indicating improving upside momentum and a shift away from the recent weakness. The MACD diff remains negative at -28.58, but is converging towards zero, suggesting that selling pressure is fading and that the balance is shifting.
To confirm a more durable recovery, futures need to hold above the 10 DMA and push through resistance around 4300, which would open the way towards 4700. A sustained move above this level would be required to challenge the broader downtrend. On the downside, a failure to hold above the 10 DMA would signal that the rebound is losing traction, with a break below the 40 DMA at 3789 exposing renewed downside risks towards 3500. For now, the strong move higher suggests that buying interest has returned, but futures need to sustain the momentum above key averages to confirm a shift in the near‑term outlook.
Ldn 2nd Month Cocoa Futures
