NY 2nd Month Sugar Futures
NY sugar futures edged higher on Tuesday, closing at 15.80, up 0.14 on the session as prices stabilised after the recent pullback. The green candle confirms renewed buying interest, although futures remain marginally below the 10 DMA at 15.81, suggesting that near-term upside momentum has not fully reasserted itself. Prices are still comfortably above the 40 DMA at 14.92 and the 100 DMA at 14.76, keeping the broader recovery structure intact.
The stochastics are elevated, with %K at 75.38 below %D at 80.64, indicating that upside momentum is cooling from overbought territory. The MACD diff remains positive, with the MACD line above the signal line, suggesting that underlying buying pressure is still present despite the recent loss of pace.
To confirm a continuation higher, futures need to reclaim and close above the 10 DMA at 15.81 and then break back above the recent highs around 16.00. A sustained move through this level would open the way towards 16.50. On the downside, a break below the 40 DMA at 14.92 would weaken the recovery structure and expose the 100 DMA at 14.76. For now, the market remains constructive while holding above the medium-term averages, but the close just below the 10 DMA and easing stochastics suggest some caution in the near term.
Ldn 2nd Month Sugar Futures
Ldn sugar futures also edged higher on Tuesday, closing at 462.50, up 4.70 on the session as prices attempted to recover after the recent decline from the highs near 480. Despite the gain, futures remain below the 10 DMA at 470.06, confirming that short-term momentum is still under pressure. However, prices continue to hold above the 40 DMA at 448.08 and the 100 DMA at 436.35, suggesting that the broader recovery trend remains intact for now.
The stochastics are falling, with %K at 45.82 below %D at 61.06, signalling that buying momentum has weakened. The MACD diff is negative at -0.77, indicating that the recent pullback has not yet fully stabilised.
To confirm a stronger recovery, futures need to regain and close above the 10 DMA at 470.06, which would allow a retest of the 480 area. On the downside, a break below the 40 DMA at 448.08 would confirm further deterioration and expose the 100 DMA at 436.35. For now, Tuesday’s higher close is constructive, but the market needs to reclaim the 10 DMA to confirm that the rebound has more substance.
NY 2nd Month Coffee Futures
NY coffee futures edged lower on Tuesday, closing at 326.10, down 3.90 on the session. The session was highly volatile, with futures initially rallying sharply before surrendering gains into the close and finishing with a red candle. Despite the weaker finish, prices remain comfortably above the 10 DMA at 322.32, the 40 DMA at 276.26 and the 100 DMA at 284.24, confirming that the broader recovery structure remains intact. The failure to hold above the recent highs near 350 suggests some profit-taking is emerging after the strong rally from the June lows.
The stochastics are falling, with %K at 68.65 below %D at 71.91, indicating that upside momentum is easing from elevated levels. However, the MACD diff remains positive at 3.88, suggesting underlying buying pressure continues to outweigh selling pressure despite the volatile session and lower close.
To confirm a deeper correction, futures need to break below support at 312.25 and then the 10 DMA at 322.32. A move through these levels would expose the 100 DMA at 284.24. On the upside, futures need to reclaim the recent highs around 350 to revive bullish momentum and reopen the path towards 375. The volatile price action and lower close suggest momentum is cooling, but the broader outlook remains constructive while futures hold above key moving averages.
Lnd 2nd Month Coffee Futures
Ldn coffee futures edged higher on Tuesday, closing at 3849, up 15 on the session. The session was extremely volatile, with futures trading on both sides of unchanged before recovering into the close. The small green candle reflects indecision rather than strong bullish conviction, but prices continue to hold above the 10 DMA at 3851, the 40 DMA at 3546 and the 100 DMA at 3515, confirming that the broader recovery trend remains in place.
The stochastics are falling, with %K at 53.16 below %D at 60.23, signalling that upside momentum is fading following the sharp rally seen in June and early July. The MACD diff remains positive at 5.69, indicating that buying pressure is still present, although momentum is no longer accelerating.
To confirm further upside, futures need to regain momentum above 4000, which would reopen the path towards the recent highs. On the downside, a break below the 10 DMA at 3851 would expose the 40 DMA at 3546 and signal a deeper corrective move. For now, the market continues to consolidate after the recent rally, with Tuesday's higher close offering a modestly constructive signal, although momentum indicators suggest gains may remain limited in the near term.
NY 2nd Month Cocoa Futures
NY cocoa futures edged higher on Tuesday, closing at 5806. Although the contract finished slightly lower on the day according to the price box (-0.62%), the candle shows a highly volatile session with prices recovering strongly from intraday weakness and closing well above the session lows. Futures remain comfortably above the 10 DMA at 5688, the 40 DMA at 4571 and the 200 DMA at 4729, confirming that the broader recovery trend remains firmly intact. The market continues to hold above the key breakout levels at 5220 and 5765, highlighting the strength of the underlying uptrend despite the recent consolidation.
The stochastics are easing from overbought territory, with %K at 70.88 below %D at 79.30, suggesting that upside momentum has moderated following the sharp rally seen in recent weeks. However, the MACD diff remains strongly positive at 63.09, indicating that buying pressure continues to dominate despite the increasingly volatile price action.
To confirm a continuation higher, futures need to hold above the 5765 breakout level and then retest resistance around 6200. A sustained move through this area would reinforce the bullish outlook and bring the recent highs near 6500 back into focus. On the downside, a break below 5765 would expose support at 5220, with the 200 DMA at 4729 providing more substantial support beneath. For now, the trend remains constructive, although the volatile session suggests the market is entering a consolidation phase after the recent rally.
Ldn 2nd Month Cocoa Futures
