• Weekly Market Report 5 August 2014 5 August 2014

    SUGAR MARKET OVERVIEW Sugar moved lower last week, breaking through the bottom of the range, falling every day to close at 16.35. A fire at the Cosan terminal on Sunday afternoon was bought under control later that day, causing damage to two sheds, and a conveyor belt. With the Copersucar fire (the terminal next door) fresh in people's memories, the market opened up 4% on Monday morning, but gains faded quickly as the true damage was revealed. The Oct/ May spread continues to weaken, as a glut of production from B...
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  • Weekly Market Report 11 August 2014 11 August 2014

    SUGAR MARKET OVERVIEW Following the large downward reversal on Monday post the Cosan terminal, October sugar remained under pressure for the rest of the week. The largest mover by far was the Oct/Mar spread which traded from a low of –1.85 to a high of –1.61. Fundamentally, the excess supply and lack of demand seems to be the sole focus of the market at the moment, with either the flat price needing to move lower or the spread to weaken further or both to help solve the problem. Friday saw a small bounce (+9) ...
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  • Weekly Marketing Report 19 August 2014 19 August 2014

    SUGAR MARKET OVERVIEW The Brazilian campaign is continuing at rapid pace, with a few rain delays that could add to a the likely short tail later on. ATR levels are higher and the sugar mix has remained elevated despite sugar trading under ethanol parity. The Indian monsoon is somewhat patchy with flooding in UP and drought leading to seed shortages in Tamil Nadu. Maharashtra mills are expecting to crush an additional 9mt of cane (+12%) All of these factors are continuing to weigh on the outlook for sugar price ...
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  • Weekly Market Report 27 August 2014 27 August 2014

    SUGAR MARKET OVERVIEW October sugar broke through 16c last week and has been unable to recapture this level. Even after a UNICA downgrade to the Brazilian crop (546 mt), the prices remain under pressure. Excess stocks in Thailand and benign weather in Brazil and India is weighing on prices. For the first time in a while, there are some positives on the radar. Prices have moved low enough to be facilitating trade, Brazilian producers have been seen washing out of some sugar sales to switch to ethanol and there is s...
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