Today sugar futures have maintained the falling trend at world exchanges. At New York Exchange October future has dropped by 22.56 cents/pound – 497 US dollars per ton.
At FORTS the value of raw sugar has amounted to 16.4 points. London exchange has set the price for white sugar at the point of 621.50 US dollars per ton, which is 4.70 US dollars less than during yesterday’s trading session.
On Wednesday cocoa and coffee markets have closed with a plus. September cocoa futures have risen by 1.1 percent, coffee – by 0.1 percent.
According to the experts of , today sugar future is traded within downtrend, forming a down wave 5/A of upper timeframe. The closest significant support is provided by low 22.2 and 50% of Fibonacci – 21.83. The uptrend will continue only when sloping channel MF and pivot MF are broken (see the chart).
