• Weekly Market Report 27 November 2017 27 November 2017

    Sugar

    • Raw sugar futures looked likely to retrace all recent gains on a material reduction (20,000 lots) in the net short spec position , but prices regained prior week losses to finish back above 15 USc/lb.
    • The Indian harvest is underway with some estimates already being ratcheted higher to around 26 million tons.

    Currency/macro comments

    • AUD was buoyed back above USD 0.76 by uncertainty around the Fed’s inflation forecasts.
    • US Fed concerns that inflation may remain lower for longer saw the USD and yields slip.
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  • Weekly Market Report 13 November 2017 13 November 2017

    Sugar

    • Raw sugar futures have enjoyed consecutive gains on the week, with the prompt March18 surging from 14.23 USc/lb on Monday to settle near 14.99 USc/lb on Friday night.
    • Global surplus and tightness concerns were moderated as the potential for less sugar in Brazil held participants’ attention.

    Currency/macro comments

    • A quietly choppy week for the AUD, sitting in a 74-point range.
    • Downside pressure was relieved as plans for US tax reform stalled, allowing the AUD to hold back above USD 0.7650.
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  • Weekly Market Report 7 November 2017 7 November 2017

    Sugar

    • Raw sugar futures struggled to garner further support following a run above 14.50 USc/lb last week, with the March18 contract settling the week 25 points in the red.
    • Looking ahead, with little new fundamental news, we expect the market to continue to cycle well-trod ground in the 13-15 USc/lb range.

    Currency/macro commentary

    • AUD ended slightly lower for the week, as a softer retail sales print gave back mid-week gains.
    • In the US, the FOMC left rates on hold as expected, maintaining they are on track for a December rate hike.
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