NY 2nd Month Sugar Futures
NY sugar futures edged lower on Thursday, closing at 15.58, down 0.07 on the session as prices continued to consolidate below the recent highs near 16.00. The relatively small red candle highlights limited selling pressure rather than a decisive reversal, but futures remain marginally below the 10 DMA at 15.69, suggesting that near-term momentum remains subdued. Nevertheless, prices continue to hold comfortably above the 40 DMA at 14.99 and the 100 DMA at 14.88, confirming that the broader recovery structure remains intact following the rebound from the June lows.
The stochastics are easing, with %K at 40.69 below %D at 45.12, indicating that upside momentum has weakened further after rolling over from overbought territory. The MACD diff has turned slightly negative at -0.04, suggesting that selling pressure is marginally outweighing buying pressure and that the recent rally is losing momentum.
To confirm a deeper pullback, futures need to remain below the 10 DMA and break through support at the 40 DMA at 14.99. A move below this level would expose the 100 DMA at 14.88 and potentially the 14.30 area. On the upside, futures need to reclaim the 10 DMA at 15.69 and then break above 16.00 to confirm renewed buying interest. For now, the broader structure remains constructive, but momentum indicators continue to soften and suggest a period of consolidation may persist.
Ldn 2nd Month Sugar Futures
Ldn sugar futures also edged lower on Thursday, closing at 459.60, down 3.80 on the session as selling pressure extended the recent pullback from the highs around 480. Futures remain below the 10 DMA at 462.39, reinforcing the loss of short-term momentum. However, prices continue to hold above the 40 DMA at 452.53 and the 100 DMA at 440.45, indicating that the medium-term recovery trend remains intact despite the recent weakness.
The stochastics are broadly neutral, with %K at 48.99 close to %D at 47.76, suggesting that momentum has stabilised after the sharp decline seen earlier in July. The MACD diff remains negative at -1.47, confirming that selling pressure is still dominating in the near term, although the pace of deterioration has moderated.
To confirm further downside, futures need to break below the 40 DMA at 452.53, which would expose the 100 DMA at 440.45. On the upside, futures need to regain the 10 DMA at 462.39 and then challenge resistance around 470 before a retest of the recent highs can be considered. For now, the market remains in a corrective phase, but the broader technical structure remains supportive while prices continue to hold above the 40 and 100 DMAs.
NY 2nd Month Coffee Futures
NY coffee futures fell further on Thursday, closing at 296.45, down 7.25 on the session as selling pressure continued after the recent failure to sustain gains above 350. The red candle confirms another weaker session, with prices now trading well below the 10 DMA at 319.68. This signals a clear loss of short-term momentum. However, futures remain above the 40 DMA at 285.16 and the 100 DMA at 286.47, meaning the broader recovery structure has not fully broken down yet. The move below 300 is still technically important, as it shows that the recent rally is continuing to unwind and that buyers are no longer defending the upper part of the range.
The stochastics are falling, with %K at 19.64 below %D at 34.07, indicating that downside momentum remains dominant and is now approaching oversold territory. The MACD diff has turned negative at -3.98, confirming that selling pressure is outweighing buying interest and that the recovery momentum has faded.
To confirm further downside, futures need to break below the 40 and 100 DMA support zone around 285–286. A move below this area would weaken the recovery structure and expose the 250–240 support region. On the upside, futures need to reclaim 300 first and then recover above the 10 DMA at 319.68 to suggest that the correction is stabilising. For now, the indicators point to further weakness, but the 40 and 100 DMAs remain the key levels that need to break to confirm a more bearish shift.
Lnd 2nd Month Coffee Futures
Ldn coffee futures also decreased further on Thursday, closing at 3708, down 88 on the session as the pullback from the recent highs above 4000 continued. The red candle confirms ongoing selling pressure, with prices now trading below the 10 DMA at 3833. This keeps the near-term tone weak. However, futures remain above the 40 DMA at 3624 and the 100 DMA at 3530, suggesting that the broader recovery from the April lows is still intact for now. The latest decline shows that the market is struggling to rebuild momentum after the sharp rally in June and early July.
The stochastics are falling, with %K at 21.55 below %D at 34.15, signalling that downside momentum remains in place and that the market is moving closer to oversold territory. The MACD diff is negative at -26.18, confirming that selling pressure has strengthened and that the previous bullish momentum has reversed in the near term.
To confirm a deeper correction, futures need to break below the 40 DMA at 3624, which would expose the 100 DMA at 3530. A move below this support zone would mark a more meaningful deterioration in the technical structure. On the upside, futures need to regain the 10 DMA at 3833 and then push back towards 4000 to stabilise sentiment. For now, Ldn coffee remains under pressure, with indicators pointing lower, although the broader recovery remains supported while prices hold above the 40 and 100 DMAs.
NY 2nd Month Cocoa Futures
NY cocoa futures were little changed on Thursday, closing at 5441, down 0.57% on the session as prices continued to consolidate following the sharp correction from the recent highs above 6400. The relatively small candle body and limited daily move suggest a lack of fresh directional conviction, with futures holding just above the key support level at 5325. Prices remain below the 10 DMA at 5698, indicating that short-term momentum remains under pressure, but they continue to trade comfortably above the 40 DMA at 4856 and the 200 DMA at 4689, keeping the broader recovery structure intact.
The stochastics are falling, with %K at 25.96 below %D at 38.44, signalling weakening momentum and a move back towards oversold territory. The MACD diff remains negative at -86.58 and continues to widen, confirming that selling pressure still outweighs buying interest despite the relatively stable price action.
To confirm a deeper correction, futures need to break below the support at 5325, which would expose the 5000 level and then the 40 DMA at 4856. On the upside, futures need to reclaim the 10 DMA at 5698 and then move back through 5765 to signal that buying interest is returning. For now, the market appears to be consolidating after the recent sell-off, with the broader recovery intact but the short-term indicators continuing to point to weakness.
Ldn 2nd Month Cocoa Futures
