Core Viewpoint - The raw sugar market is experiencing a contraction in trading volume, with the March contract showing a downward trend and facing resistance at 14.80 cents per pound [1] Market Analysis - Domestic spot prices are declining slightly due to high sugar extraction rates in northern production areas and the commencement of new sugar production in the south, increasing supply pressure [1] - The market in Liuzhou saw a decrease in the order volume for contract 26013, with effective resistance at 5480 leading to a downward trend, breaking through support levels at 5455 and 5435 [1] - The focus is on whether the 5440 level can act as a strong selling resistance; if it holds, panic selling may continue [1] Trading Activity - The 2601 sugar futures contract experienced a significant drop, closing with a long bearish candle, but the decline is slowing near the 5400 support level with an increase in open interest, indicating short-term bullish participation [1] - Attention is drawn to potential profit-taking in the 5420-5430 range as the market looks for signs of a rebound [1]
糖市早评：短线下跌渐缓20251119