India's government press office said recent sugar price gains were driven by speculation and stockpiling, with mills and traders pushing prices higher.

Market sources said Saudi Aramco has instructed LPG buyers to load cargoes from inside the Persian Gulf, the first such move since port infrastructure was damaged ahead of the regional war that began in February.

JP Morgan (Aug. 21) said the US 30-year Treasury jumped after a surprise US Treasury buyback but later ceded gains. Traders remain skeptical that buybacks address underlying fiscal and long-term Treasury supply–demand imbalances, a dynamic JP Morgan says strengthens the 'currency debasement' trade and supports demand for gold and gold miners. Positioning shows larger bets on curve steepening, but net bond exposure is still very low versus the past 12 months and long-run history.