
March NY world sugar #11 (SBH25) Thursday closed up +0.40 (+2.22%), and March London ICE white sugar #5 (SWH25) closed up +12.50 (+2.65%).
Sugar prices posted moderate gains on Thursday, as a weaker dollar (DXY00) sparked short covering in sugar futures. An excessive short position by funds in London sugar could fuel any short-covering rally. Last Friday's weekly Commitment of Traders (COT) report showed funds increased their net-short London sugar position by 2,322 in the week ending January 7 to a 5-year high of 2,515 net short positions.