SUGAR UPDATE
Sugar futures continued to fall in recent weeks, with the Mar17 contract now some 4 USc/lb lower than the high of 23.90 USc/lb seen on October 6. This move has seen the A$/tonne price correct to A$580 p/t at present.
The move lower in sugar prices is only partially explained by sugar fundamentals. A broadly stronger USD has taken the market by surprise post the US Federal election. Interest rates have jumped higher in the US in response to Trump’s election, with a wall of investor money into the ...
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