Blog

Sugar

• Despite a relief rally erasing the previous day’s losses, raw sugar futures were subdued last week.
• In India, harvesting continues to push along well, however, exports have stalled whilst mills await direction on Government subsidies.
• Similarly, the Thai harvest is progressing well, thanks to better yields and operational mills.
• With the annual Dubai Sugar Conference now complete, in the coming days we will start to see reports of points of interest.

Macro/currency commentary

• The AUD was on the back foot last week, despite a change in rhetoric from the RBA.
• The AUD continues to gyrate above and below USD 0.71 this week.
• A handful of US and Chinese economic data is due tonight and tomorrow to round out the week.