NY 2nd Month Sugar Futures
NY sugar futures dropped on Thursday, closing at 15.37, down 0.40 on the session, as a strong red candle confirmed a sharp pullback from the recent highs around 16.00. The move pushed futures below the 10 DMA at 15.86, signalling a clear loss of near-term momentum. However, prices remain above the 40 DMA at 14.93 and the 100 DMA at 14.80, suggesting that the broader recovery structure is still intact for now.
The stochastics are falling, with %K at 42.14 below %D at 63.16, indicating that upside momentum has faded quickly. The MACD diff remains marginally positive at 0.02, but the narrowing histogram suggests that buying pressure is weakening.
To confirm further downside, futures need to remain below the 10 DMA and break through support around the 40 DMA at 14.93. A move below this level would expose the 100 DMA at 14.80 and then the 14.30 area. On the upside, futures need to reclaim the 10 DMA at 15.86 and then retest the 16.00 level to restore the constructive outlook. For now, Thursday’s decline reflects a meaningful loss of short-term momentum, although the broader structure remains supported while prices hold above the 40 and 100 DMAs.
Ldn 2nd Month Sugar Futures
Ldn sugar futures also dropped on Thursday, closing at 454.60, down 6.20 on the session, as selling pressure continued after the recent failure to sustain gains near 480. Futures remain below the 10 DMA at 466.62, confirming that near-term momentum is under pressure. However, prices are still above the 40 DMA at 448.91 and the 100 DMA at 437.47, keeping the broader recovery structure intact.
The stochastics are falling, with %K at 30.46 below %D at 46.19, signalling weakening momentum and growing downside pressure. The MACD diff is negative at -1.90, confirming that selling pressure has taken hold in the short term.
To confirm a deeper pullback, futures need to break below the 40 DMA at 448.91, which would expose the 100 DMA at 437.47. A break below this level would suggest a more meaningful deterioration in the recovery structure. On the upside, futures need to regain the 10 DMA at 466.62 to ease immediate pressure and reopen a move towards 475–480. For now, the technical picture has weakened, with indicators pointing lower, but the market remains above medium-term support.
NY 2nd Month Coffee Futures
NY coffee futures declined on Thursday, closing at 312.60, down 14.15 on the session as selling pressure extended the pullback from the recent highs near 350. The red candle confirms a weaker close and follows several days of increasingly volatile trading. Importantly, futures have now slipped below the 10 DMA at 325.62, signalling a loss of near-term momentum. However, prices remain comfortably above the 40 DMA at 278.96 and the 100 DMA at 284.92, suggesting that the broader recovery structure remains intact despite the recent setback. The move has also brought futures back towards the key support area at 312.25, which is becoming increasingly important for the near-term outlook.
The stochastics are falling, with %K at 49.56 below %D at 62.55, indicating that upside momentum is fading. The MACD diff remains positive at 0.88, but the histogram continues to narrow, suggesting that buying pressure is losing strength following the strong rally from the June lows.
To confirm a deeper correction, futures need to break below support at 312.25 and then hold beneath the 10 DMA. A move through this area would expose the 40 DMA at 278.96 and the 100 DMA at 284.92. On the upside, futures need to reclaim the 10 DMA at 325.62 and then push back towards 350 to re-establish bullish momentum. For now, the indicators point to a loss of upside momentum, but futures need to break below 312.25 to confirm a more bearish near-term outlook.
Lnd 2nd Month Coffee Futures
Ldn coffee futures also moved lower on Thursday, closing at 3797, down 114 on the session as prices continued to retreat from the recent highs above 4000. The red candle confirms ongoing profit-taking and follows a period of volatile trading. Despite the decline, futures remain above the 10 DMA at 3866, the 40 DMA at 3572 and the 100 DMA at 3520, highlighting that the broader recovery trend remains intact. The market is now testing the 10 DMA for the first time since the June rally accelerated, making this a key level for the near-term outlook.
The stochastics are falling, with %K at 44.50 below %D at 53.40, signalling that upside momentum continues to fade. The MACD diff has turned negative at -4.50, suggesting that selling pressure is beginning to outweigh buying pressure and that the recent recovery is losing momentum.
To confirm further downside, futures need to break below the 10 DMA at 3866, which would expose support around the 40 DMA at 3572. A move below this level would signal a more meaningful deterioration in the technical structure. On the upside, futures need to reclaim 4000 to stabilise sentiment and reopen the way towards the recent highs. For now, both price action and indicators suggest that momentum is fading, although the broader recovery remains intact while futures continue to hold above the major moving averages.
NY 2nd Month Cocoa Futures
NY cocoa futures plunged on Thursday, closing at 5362, down 8.86% on the session as a large red candle erased a substantial portion of the recent rally. The sharp decline pushed prices back below the key support level at 5765 and below the 10 DMA at 5795, signalling a significant loss of near-term momentum. However, futures remain comfortably above the 40 DMA at 4653 and the 200 DMA at 4716, indicating that the broader recovery structure from the March low at 2846 remains intact despite the setback. The rejection from the recent highs near 6500 suggests that buying interest has become exhausted in the short term.
The stochastics are falling sharply, with %K at 53.64 below %D at 68.12, indicating that upside momentum has deteriorated rapidly from overbought territory. The MACD diff has turned negative at -14.60, confirming that selling pressure is now outweighing buying pressure and that the recent uptrend is losing momentum.
To confirm a deeper correction, futures need to remain below the 10 DMA and break through support at 5220. A move below this level would expose the 40 DMA at 4653 and the 200 DMA at 4716. On the upside, futures need to reclaim 5765 and then close back above the 10 DMA at 5795 to signal that buying interest has returned. For now, the indicators point to further weakness, and the break below key support levels suggests the market has entered a corrective phase after the strong rally through June and early July.
Ldn 2nd Month Cocoa Futures
