Raw sugar futures have chopped over a 105-point range in the last month.
Brazil has continued to reduce sugar output with little effect as oversupply remains an issue for the global market, thanks in large to excess Thai and centrals sugar.
The Indian government announced that it will extend the buffer stock to 4mmt, from the previous 3mmt this year, and is expected to make a formal announcement on its 19/20 export policy this month.
Macro/currency commentary
The AUD has been a runaway train over the past month, trading from a mid-July USD 0.7082 high to 10-year lows in the last week at USD 0.6677.
Trade tensions between the US and China continuing to dominate market sentiment.
A busy week on the economic data calendar as the market looks for further policy easing justification in the local employment numbers on Thursday.
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