CANE

CANE is in a clear Stage 4 decline after decisively breaching multi-test support. Medium-term bias is bearish, reinforced by a support failure and persistent lower highs and lows. Short-term timing favors sellers as price trades below and has been rejected at the declining 9/20 EMAs. Execution is to sell into any relief up toward the former support zone now acting as resistance around the EMA cluster. This view invalidates if price reclaims and holds above the 9 and 20 EMAs with sustained follow-through.

• ↑NY sugar futures up 1.36% on Brazilian cane yield decline
• ↑Weak Indian monsoon reduces yields, tightening global sugar supply
• ↓2025/26 global sugar surplus forecast biggest in eight years