AndreasMunz
Long

SB Bullish, still on track

ICEUSA:SB1!   Sugar #11
Still bullish SB             as it appreciated over the past month. It really gained momentum has it had to break out from oversold conditions.

What happened over the course was the term structure (future spreads) are now in backwardation for the entire next year. This leaves me with remaining bullish as it foreshadows supply tightness coming out of Brazil.

Also the USDBRL             has come off of its highs and could provide some further support for a rally
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