Raw sugar futures rallied in the run up to the October 19 expiry and continued to strengthen afterwards, before losing momentum and giving back two weeks’ worth of gains.
Prices have traded freely with the October 19 contract off the board
Indian sugar is still expected to hit the global market through Q1–Q2 2020, however prices will need to move back into the 13–14 USc/lb range to incentivise exports from the region.
Macro/currency commentary
An uninspiring month for the AUD, which gave up prior gains that had seen the dollar climb back up to USD 0.69.
The RBA continued to ratchet up easing expectations by cutting interest rates to a record 0.75%.
Looking ahead, US and China trade discussions remain at the forefront of AUD drivers in the near term.
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.
