• QCS Market Report 14 February 2019 14 February 2019

    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.
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