Speculators resume bullish bet on sugar as energy prices soar
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[NEW YORK] Speculators resumed their bullish bets in raw sugar futures on ICE US, sharply increasing their net long position in the sweetener in the week to March 8 as energy prices soared, data from the Commodity Futures Trading Commission (CFTC) showed on Friday (Mar 11).
Money managers and hedge funds added 63,497 contracts to their net long position in sugar to 99,091 in the period.
Sugar has been tracking gains in oil as higher fuel prices might prompt mills in Brazil to make more ethanol and less sugar. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
Singaporeans can now buy record amount of yen per Singdollar
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Keppel DC Reit posts 13.2% higher Q1 DPU of S$0.02833 on strong portfolio performance
