Jay Kindred

Welcome to the first instalment of Czapp’s course on the futures market.

In this episode we will look at what futures markets are and what constitutes a futures contract.

Welcome to the first instalment of Czapp’s course on the futures market.

In this episode we will look at what futures markets are and what constitutes a futures contract.

• European area planted to sugar beet is the 2nd lowest in 6 years.
• Beet prices paid to farmers have risen by as much as 50% this year.
• High beet prices need to be sustained for growers to commit further to the crop.

• Fertilizer imports to the EU will soon include carbon dioxide emission costs.
• The cost of fertilizers for EU farmers (and therefore food prices) could rise.
• Particularly since the EU imports plenty of fertilizers from high CO2-emitting origins.

• Both raw and refined sugar futures prices strengthened over the last week.
• The CFTC is still affected by an earlier cyber-attack, hindering access to up-to-date trading data.
• Despite this, we still think speculators hold a large long position in raw sugar.

• Thai farmers have burnt 8% more cane this season compared to 2021/22.
• Harvesting burnt cane is less labour intensive.
• Burning the cane has also boosted the sucrose content.