NY 2nd Month Sugar Futures
NY sugar futures fell sharply on Thursday as strong selling pressure pushed prices below 19.00 to close at 18.32. The decline took futures decisively below the 10 DMA at 19.06, reversing the short-term moving-average support and extending the pullback from the August highs near 20.00. However, prices remain above the rising 40 DMA at 17.79 and the 100 DMA at 16.15, preserving the broader constructive trend for now.
The stochastics are falling sharply, with %K/%D diverging on the downside at 3.07/13.65. Both lines are in oversold territory, signalling strong bearish momentum, although the speed of the decline leaves the market vulnerable to a technical rebound. The MACD diff is negative and diverging at -0.1795, with the MACD line at 0.4109 below the signal line at 0.5904, confirming growing selling pressure.
To confirm the outlook for lower prices, futures need to break below Thursday’s low around 18.20 and then take out the 18.00 level. A close below this area could set the scene for a test of the 40 DMA at 17.79, which is the critical support protecting the medium-term bullish structure. A break below this average would strengthen the bearish momentum and bring 17.50 into focus. On the upside, futures need to reaffirm support above 18.00 and recover above the 10 DMA at 19.06 to ease the current downward pressure. A close above this average could trigger a move towards 19.50, although the recent highs around 20.00 would remain robust resistance.
Ldn 2nd Month Sugar Futures
Ldn sugar futures weakened sharply on Thursday as sustained selling pressure pushed prices below the 10 DMA at 527.92 to close at 515.10. The decline extended the rejection from the 530–540 resistance area and brought futures closer to the rising 40 DMA at 508.09. The 100 DMA at 471.88 remains comfortably below current levels, meaning the broader upward structure is still intact despite the deterioration in short-term momentum.
The stochastics are falling steeply, with %K/%D diverging on the downside at 1.99/26.90. The indicators are in oversold territory, highlighting pronounced selling pressure but also suggesting that the market is becoming increasingly stretched. The MACD diff is negative and diverging at -3.1324, with the MACD line at 6.5813 below the signal line at 9.7137, confirming the strengthening bearish momentum.
To confirm the outlook for lower prices, futures need to break below the immediate support around 510 and then take out the 40 DMA at 508.09. A close below this average could set the scene for a move towards the psychological support at 500. A sustained break below 500 would represent a more significant deterioration and could bring the 480 area and the 100 DMA at 471.88 into focus. On the upside, the reaffirmation of support around 510 could encourage a recovery towards 520, although futures need to regain the 10 DMA at 527.92 to ease the immediate bearish pressure. A close above this average could trigger another test of 540.
NY 2nd Month Coffee Futures
NY coffee futures extended losses on Thursday as sustained selling pressure pushed prices down to close at 276.50. Futures remain firmly below the 10 DMA at 288.04, the 100 DMA at 292.52 and the 40 DMA at 308.10, confirming a pronounced deterioration in the technical structure. The market has also broken below the late-August and early-September support area around 280, extending the sequence of lower highs and lower lows that has developed since the recovery stalled near 345 in August.
The stochastics are falling in deeply oversold territory, with %K/%D at 7.24/9.31, suggesting continued appetite for lower prices, although the extent of the decline leaves futures increasingly vulnerable to a technical rebound. The MACD diff is negative and diverging at -2.98, with the MACD line at -8.98 below the signal line at -6.00, highlighting growing selling pressure.
To confirm the outlook for lower prices, futures need to remain below 280 and break through support around 275. A close below this area could set the scene for a move towards 270, before the June low around 245–250 comes back into focus. On the upside, futures need to recover above 280 before testing the 10 DMA at 288.04 and the 100 DMA at 292.52. A close above both averages would ease the immediate bearish pressure and could trigger a recovery towards 300, although the declining 40 DMA at 308.10 would remain robust resistance.
Lnd 2nd Month Coffee Futures
Ldn coffee futures weakened on Thursday as renewed selling pressure saw prices close at 3391. The market moved further below the 10 DMA at 3468 and remains firmly beneath the 100 DMA at 3585 and the 40 DMA at 3640. This bearish moving-average structure confirms that the recovery attempted in late August has lost momentum. Futures have also returned to the lower end of the recent range after failing to sustain the move above 3500, leaving the August low around 3350 as the key immediate support.
The stochastics are falling, with %K/%D diverging on the downside at 18.29/37.10. %K has moved into oversold territory, signalling strong bearish momentum but also increasingly stretched conditions. The MACD diff is marginally negative at -0.03, with the MACD line at -65.25 just below the signal line at -65.22, suggesting that selling pressure remains intact but is not accelerating materially through the MACD.
To confirm the outlook for lower prices, futures need to break below support around 3350. A close below this level could set the scene for a move towards 3300, followed by the more significant support area around 3200. On the upside, the reaffirmation of support around 3350 could encourage a recovery towards the 10 DMA at 3468. Futures would then need to reclaim 3500 and break above the 100 DMA at 3585 to ease the broader bearish pressure. A close above the 40 DMA at 3640 would be required to confirm a more sustained recovery.
NY 2nd Month Cocoa Futures
NY cocoa futures edged lower on Thursday as intraday volatility saw prices close at 5892. Futures moved below the 10 DMA at 6009 and settled marginally beneath the 40 DMA at 5914, weakening the short-term structure after prices failed to sustain the August recovery towards 6800. The 100 DMA at 5092 continues to rise well below the market and provides more robust medium-term support.
The stochastics are rising, with %K/%D diverging on the upside at 38.56/33.67, suggesting that buying momentum is beginning to recover from near-oversold levels. However, the MACD diff is negative and diverging at -52.81, with the MACD line at 36.34 below the signal line at 89.15, highlighting persistent selling pressure and leaving the momentum signals mixed.
To confirm the outlook for lower prices, futures need to remain below the 40 DMA at 5914 and break through support around 5800. A close below this level could set the scene for a move towards 5600, before the more significant support area around 5300 and the 100 DMA at 5092 come into focus. On the upside, futures need to regain the 40 DMA and then take out the 10 DMA at 6009. A sustained close above 6009 could trigger a test of resistance around 6200, with a break above 6300 required to confirm renewed appetite for higher prices towards 6500.
Ldn 2nd Month Cocoa Futures
