NY 2nd Month Sugar Futures
NY sugar futures edged higher on Tuesday, settling at 13.95, up 0.11 on the session as a small green candle signalled a modest recovery after the recent sell‑off. The move higher is limited in scale, but it shows buying interest returning near the 13.80–14.00 zone following repeated tests of support. Despite the uptick, futures remain below all key moving averages, with the 10 DMA at 14.23, the 40 DMA at 14.83 and the 100 DMA at 14.54 continuing to cap the upside. This keeps the broader structure weak, with the recovery still in its early stages.
The stochastics are low and stabilising, with %K at 17.89 broadly in line with %D at 17.87, indicating that downside momentum is no longer accelerating and the market is attempting to base from oversold levels. The MACD diff remains negative at -0.065 but is no longer widening, suggesting that selling pressure is easing rather than building.
To confirm a more meaningful recovery, futures need to reclaim the 10 DMA at 14.23 and then push towards the 100 DMA at 14.54. On the downside, a break back below 13.80 would expose the key support at 13.34. For now, the move higher reflects an early stabilisation attempt, but the market needs to reclaim the averages to shift the near‑term outlook.
Ldn 2nd Month Sugar Futures
London sugar futures moved lower on Tuesday, closing at 437.80, down 6.00 on the session, with a clear red candle showing a decisive reversal from Monday’s strength. The decline effectively wipes out the gains from the previous session, confirming a failure to build on the recent recovery. Prices have slipped back below the 10 DMA at 439.41, while still holding above the 40 DMA at 438.08 and the 100 DMA at 427.43, leaving the broader structure intact but weakening the near‑term momentum.
The stochastics are softening from mid‑range levels, with %K at 54.72 slightly below %D at 55.00, suggesting that upside momentum is fading. The MACD diff is marginally negative at around -0.20, indicating that the market is shifting back towards a more neutral to slightly bearish short‑term 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 is required to stabilise and attempt a retest of 445. For now, the sharp reversal highlights a loss of upside follow‑through, with the market slipping back into consolidation after failing to sustain Monday’s rally.
NY 2nd Month Coffee Futures
NY coffee futures surged on Tuesday, settling at 275.95, up 8.95 on the session as a strong green candle confirmed a decisive extension of the recent rebound. The move pushed prices further above the 10 DMA at 260.38 and above the 40 DMA at 267.26, which strengthens the near-term recovery structure after the earlier break higher. Futures are still below the 100 DMA at 282.81, so the broader trend has not fully turned, but the gap has narrowed materially. The move also takes prices further away from the former support at 255.65, which now looks to be acting as a stronger near-term floor.
The stochastics are rising sharply, with %K at 79.33 above %D at 69.87, signalling firm upside momentum, although the market is moving closer to overbought territory. The MACD diff is positive at 4.01 and widening, indicating that buying pressure is accelerating and that the recovery has gained traction.
To confirm a broader recovery, futures need to push through the 100 DMA at 282.81 and then challenge the 300 area before the 312.25 resistance. On the downside, futures need to hold above the 40 DMA at 267.26, while a break back below the 10 DMA at 260.38 would weaken the current recovery profile and refocus attention on 255.65. For now, the price action and indicators point to strengthening upside momentum, but futures need to clear the 100 DMA to confirm a more meaningful shift in the broader structure.
Lnd 2nd Month Coffee Futures
London coffee futures edged higher on Tuesday, closing at 3556, up 14 on the session as prices extended the recent recovery, though the move was far less aggressive than in New York. The contract remains above the 10 DMA at 3529 and above the 40 DMA at 3416, while also holding just above the 100 DMA at 3516, which keeps the short-term structure constructive. The latest candle is smaller and more measured than the recent rally phase, which suggests the market is still moving higher but with less urgency.
The stochastics are firm, with %K at 77.12 just below %D at 77.21, indicating that momentum remains elevated but is no longer accelerating. The MACD diff is positive at 25.12, confirming that buying pressure is still present, although the move now looks more like follow-through than a fresh breakout.
To confirm further upside, futures need to build above the 100 DMA and then push through 3600, which would open the way towards 3700. On the downside, a move back below the 100 DMA at 3516 would weaken the near-term setup, with the 10 DMA at 3529 and then the 40 DMA at 3416 becoming the key support levels to watch. For now, London coffee remains constructive, but the move looks steadier and more consolidative than the sharper surge seen in New York.
NY 2nd Month Cocoa Futures
NY cocoa futures edged higher on Tuesday, settling at 4645, up around 0.52% on the session as a modest green candle confirmed a continuation of the recent recovery, albeit without strong follow‑through. Prices are holding above the 10 DMA at 4136 and the 40 DMA at 4040, which keeps the short‑term structure supportive. However, futures remain below the 200 DMA at 4854, which continues to cap the broader trend and defines the longer‑term resistance.
The stochastics are elevated, with %K at 79.28 above %D at 62.56, indicating firm momentum but also pointing to a market approaching overbought territory. The MACD diff is positive at 62.99 and remains wide, suggesting that buying pressure is still present, although the pace of the move is stabilising after the recent rally.
To confirm further upside, futures need to break and hold above the 4750 level, which would open the way towards the 200 DMA and potentially higher resistance. On the downside, a move back below the 10 DMA at 4136 would signal fading momentum and expose support around 4000. For now, the price action reflects consolidation at higher levels, with momentum still supportive but no clear acceleration.
Ldn 2nd Month Cocoa Futures
