FOURTH ESTIMATE OF WORLD SUGAR PRODUCTION 2015/16

摘要

World sugar futures staged an impressive rally in recent weeks as widening forecasts for the global deficits in both 2015/16 and 2016/17 coincided with increasing investor appetite for sugar contracts, which elevated speculators' net long position tothe highest ever. The latter was not least fueled by frequent rain-induced interruptions to Brazil's Center South sugarcane harvest since the second half of May (with forecasts for their continuation over the next week at least), which reinforced concerns whether the lofty crushing projections for 2016/17 issued by some industry observers can be reached.