QCS in-season pricing
2021 Season pool prices
at 1 April 2022
AUD IPS t
QCS Short Term Pool
510.56
QCS Shared Pool
1,956.68
Sugar
There was a record July19 contract expiry delivery, as a remarkable 2.1 mmt of sugar was delivered to the tape.
Brazilian mills continue to minimise sugar output as demand for ethanol and firm US corn prices support ethanol prices.
The Indian Government is set to approve another tranche of 5mmt of exports, with weather being the key driver for the region.
Macro/currency commentary
A weaker USD in the face of an impending historical US interest rate cut by the US Federal Reserve has seen the AUD bounce back above USD 0.70.
RBA July meeting minutes are due out this week with the market looking for hints around the timing of another interest rate cut at home.
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