Sugar futures (SUGAR) on the ICE exchange are rising by nearly 2% today, attempting to decisively reverse a months-long sell-off. The rally appears to be supported by a structurally weak U.S. dollar, and today’s modest strengthening of the currency has not affected sentiment in the sugar market. In June, China reported its largest sugar import since 2018.
Looking at the chart, sugar remains within a downward price channel. The price has rebounded from the $15 level, which marked its lowest point since 2021. If the short-term trend continues, a test of the $17.3 region—where the 50-day EMA (yellow line) is currently located—remains possible. A similar price reaction was observed during the first two weeks of May.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
