New York sugar week was dominated by discussions around dry weather in Brazil and global trade surpluses over the coming seasons.
Raw sugar prices reacted by erasing gains made in the week before.
The latest Commitment of Traders report shows a reduction in net short spec positioning to 150,500 lots from 161,500 lots in the prior week.
Macro/currency commentary
A tough week for the AUD, which made fresh 11-month lows at USD 0.7413 before closing the week back above USD 0.75.
In the week ahead, the local calendar is busy, and US and China retail sales figures are due on Tuesday, with both expected to be slightly weaker than previous.
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.