• Weekly Market Report 28 June 2017 28 June 2017

    Sugar

    • Raw sugar futures continued to slide over the past week.
    • Very little price positive news, other than the hope for a significant weather event.
    • We remain wary of a large commercial short position, which would see a wave of selling if the market was to bounce.

    Currency/macro comments

    • Despite a lacklustre week, the AUD managed to finish on the front foot, toward USD 0.76.
    • AUD seems to have found decent support and resistance in the USD 0.755–0.765 range.
    • Many question whether the Fed can continue to hike at a heightened rate and trim down their balance sheet at the same time. Price action would suggest not.
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  • Weekly Market Report 20 June 2017 20 June 2017

    Sugar

    •     A continuance of spec selling continued to drag raw sugar futures lower.
    •     Ethanol parity is now below 13 USc/lb, with a gloomy fundamental backdrop.
    •     Jul-17 expiry is in two weeks, and will give insight into the physical movements ahead.

    Currency/macro comments

    •     A choppy week for the AUD, which made fresh two-month highs above USD 0.76.
    •     The US FOMC hiked rates 0.25 per cent as expected.
    •     RBA minutes out today are expected to reinforce a neutral tone going forward.
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