Jun. 10 at 5:43 AM
Sugar #11 futures getting crushed as weak
$WTI forces mills to ditch ethanol and flood the market with sugar.
Brazil +55.3% YoY production. Thailand exports +29%. Hormuz chokepoint already disrupting ~6% of global trade.
Classic energy-to-softs transmission at work.
Near-term bearish but any geopolitical escalation at Hormuz could spark a sharp reversal.
Who’s watching
$SB /
$CANE or the sugar curve?
#Sugar #CANE #CommoditiesTrading #Agri