Sugar prices rebounded further into higher territory over the past week.
The US Federal shutdown stopped the weekly Commitment of Traders report, however, respected market analysts presume specs sit at a comfortable net short position.
Many are still assuming Indian production will underwhelm, which may prove to be incorrect. We will be carefully monitoring Indian production and exports, until we see further developments on levies.
Macro/currency commentary
Another strong week for the AUD, pushing back toward USD 0.72, with the US Fed’s reluctance to hike rates in the near-to-medium term.
Many still expect the Fed to hike twice in 2019, however, no change is expected until the second half of the year.
Global trade risk sentiment began to build positively over the weekend—Chinese economic officials are expected to progress with discussions in Washington next month.
If QCS is the marketer for all or some of your GEI sugar and you would like to forward price online, please contact us to arrange access to the Pricing Portal.