NY 2nd Month Sugar Futures
NY sugar futures fell on Thursday, settling at 14.13, down 0.24 on the session as selling pressure accelerated following the recent inability to hold above resistance. The size of the red candle confirms a decisive move lower, with prices now trading below the 10 DMA at 14.37, the 40 DMA at 14.84 and the 100 DMA at 14.54. The break back beneath all key averages signals a clear deterioration in the near‑term structure and places the market back into a bearish configuration. The move also reinforces the importance of the 14.30 level, which has now been lost again.
The stochastics remain weak, with %K at 18.69 drifting below %D at 19.03, indicating that downside momentum is dominant and approaching oversold territory. The MACD diff is negative at -0.05 and widening, confirming that selling pressure is rebuilding after the brief stabilisation earlier in the month.
To confirm continuation lower, futures need to hold below 14.30 and break towards the 13.80–13.50 area, which would bring the April low at 13.34 into focus. On the upside, a recovery would require a move back above the 10 DMA at 14.37, with a break above the 100 DMA needed to signal stabilisation. For now, Thursday’s decline highlights renewed weakness, with the market failing to maintain any meaningful recovery structure.
Ldn 2nd Month Sugar Futures
London sugar futures also fell sharply on Thursday, closing at 437.80, down 6.00 on the session as a clear red candle signalled a stronger pullback than seen in previous days. The move pushed prices back below the 10 DMA at 439.41, although futures continue to hold above the 40 DMA at 438.08 and the 100 DMA at 427.43. This suggests that while the near‑term momentum has weakened, the broader recovery structure has not yet fully broken down.
The stochastics are easing from mid‑range levels, with %K at 54.72 just below %D at 55.01, indicating fading upside momentum. The MACD diff is slightly negative at around -0.20, pointing to a shift away from the previously supportive momentum profile.
To confirm further downside, futures need to break below the 40 DMA at 438.08, which would expose the 430 area and then the 100 DMA at 427.43. On the upside, a move back above the 10 DMA would suggest stabilisation and allow a retest of 445. For now, the sharp drop signals a loss of short‑term momentum, although the structure remains more resilient than in New York while the 40 DMA holds.
NY 2nd Month Coffee Futures
NY coffee futures edged lower on Thursday, settling at 267.80, down 4.10 on the session as prices pulled back after the sharp rally seen earlier in the week. The red candle reflects profit‑taking rather than a full reversal, with futures still holding above the 10 DMA at 254.46. However, prices remain below the 40 DMA at 268.57 and well below the 100 DMA at 284.19, which continues to cap the broader structure. The pullback leaves the market hovering around the former resistance at 255.65, which is now acting as support.
The stochastics are elevated, with %K at 74.69 above %D at 60.86, suggesting that momentum remains strong but is stretched following the recent surge. The MACD diff is positive at 3.81 and widening, indicating that underlying buying pressure remains intact despite the latest downturn.
To confirm a continuation higher, futures need to hold above the 10 DMA and reclaim the 40 DMA at 268.57, which would open the way towards the 100 DMA. On the downside, a break back below 255.65 would weaken the recovery structure and shift focus towards 245. For now, the move lower appears corrective within a broader recovery, with momentum still supportive but cooling.
Lnd 2nd Month Coffee Futures
London coffee futures edged higher on Thursday, closing at 3629, up 7 on the session as prices continued to build on the recent recovery. The green candle is relatively small, but it confirms continued buying interest at current levels. Futures remain above the 10 DMA at 3432 and the 40 DMA at 3408, while now trading above the 100 DMA at 3534, signalling a clear improvement in the technical structure compared to previous sessions.
The stochastics are elevated, with %K at 84.98 above %D at 72.63, indicating strong but increasingly stretched upside momentum. The MACD diff is positive at 41.72 and widening, confirming that buying pressure remains dominant.
To confirm further upside, futures need to build on current levels and push through 3700, which would open the way towards 3800. On the downside, a break back below the 100 DMA at 3534 would signal that momentum is fading, with the 40 DMA at 3408 as the next support. For now, the steady grind higher and strong indicator profile point to continued recovery, contrasting with the pause seen in New York.
NY 2nd Month Cocoa Futures
NY cocoa futures held slightly firmer on Thursday, settling around 4237, with the session effectively flat but with a marginally positive bias after recent strength. The candle is small, reflecting limited follow‑through buying after Tuesday’s strong rally, and suggests consolidation rather than reversal. Futures remain above both the 10 DMA at 3984 and the 40 DMA at 3980, confirming that the short‑term recovery structure remains intact. However, prices are still well below the 200 DMA at 4883, which continues to define the broader corrective trend.
The stochastics are relatively elevated, with %K around 60.56 above %D near 45.40, indicating that momentum remains supportive but is no longer accelerating. The MACD diff is positive and starting to flatten, which suggests that the strong upside momentum seen earlier in the week is stabilising rather than building further.
To confirm continuation higher, futures need to build on current levels and break through resistance around 4300, which would open the way towards the 4750 level. On the downside, a move back below the 10 and 40 DMA cluster would signal a loss of momentum and shift focus back towards 3900. For now, the price action reflects consolidation near the highs, with the recovery intact but lacking immediate follow‑through.
Ldn 2nd Month Cocoa Futures
