• QCS Weekly Market Report 24 January 2018 24 January 2018

    Sugar

    • Further weakness was seen last week as prices fell all the way to Friday night.
    • Prompt March18 contract found decent support near 13 USc/lb to settle the week at 13.25 USc/lb.
    • In India, the Government revised their production estimates for the season higher.
    • In Brazil, weather forecasts remain average for the rest of the wet season, whilst most of the attention is now on how much ethanol will be produced.

    Currency/macro commentary

    • The AUD maintained an USD 0.80 handle, ensured by weakness flowing from the US Government shutdown on Friday night.
    • AUD price action was highlighted by some stronger local employment data.
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  • QCS Weekly Market Report 16 January 2018 16 January 2018

    Sugar

    • After a strong performance over the Christmas break, raw sugar futures slipped dramatically last week.
    • A shortened trading week saw the market close on the front foot. Expect to see some of this follow through when the US returns from the long weekend.
    • In Thailand and India, weather remains accommodating as respective harvests continue to flourish, with increased output estimates.

    Currency/macro comments

    • The AUD enjoyed a strong rise through the end of 2017 and the beginning of 2018.
    • Five-month highs continue to hold as the AUD traded through USD 0.7900 on the week.
    • Stronger than expected US CPI data did little to stifle a rampant AUD, which will look to test USD 0.80 this week.
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