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QCS Market Report March 2021 30 March 2021
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- Since the expiry of the Mar–21 contract some weeks ago, the new prompt May–21 contract has traded sideways in the 15.50–16.50 USc/lb range.
- Fundamentally, there have been very few new inputs for the sugar market other than crop updates.
- Brazil remains the key focus for sugar prices going forward.
Macro/currency commentary
- The AUD pulled back nearly 4% of gains, which saw it trade above three-year highs at USD 0.80.
- However, price action since then has underwhelmed, with rising treasury yields, a drop in equities and concerns about higher inflation keeping the market at bay.
- Attempts to break USD 0.78 continue to be rejected with technical resistance and demand.
- Locally, the economic data flows and demand for natural resources continue to float the AUD and are key to providing forward guidance.
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COVID-19 information for QCS growers
During the COVID-19 pandemic, QCS is closely monitoring global sugar and currency markets and preparing for a number of possibilities in the pricing and marketing space. We are updating QCS growers by email twice a week, but should you have any questions or concerns your first point of contact is QCS Grower Services Officer Arthur Douglas. You can contact Arthur on 0447 534 791 or via email. If he can’t answer your questions on the spot, Arthur will get back to you as soon as we have an answer. If you ma...Read full article -
QCS 2019 Christmas office closure
QCS’ offices will be closed for a short break over the Christmas and New Year period, with the Brisbane and Farleigh offices closed from Monday 23 December 2019 and reopening on Monday 6 January 2020. The QCS team is grateful so many of you have chosen QCS as your GEI marketer and we look forward to working with you again in 2020. We wish everyone a safe and happy Christmas and New Year. Over the break, you can still reach a member of the QCS team on 1800 774 246 or by emailing . 2 Decembe...Read full article -
QCS welcomes back growers for the 2020 Season
Following the 2020 Season GEI nomination deadline of 31 October, QCS is welcoming back a number of growers who nominated QSL as their 2019 Season marketer, but have returned to QCS for the 2020 Season. Growers coming back to QCS have told us that our straightforward and flexible marketing offer, which continues to provide some of the best returns available to Australian growers, has been key to their decision. Growers have also let us know that another important reason for returning to QCS is our strong loca...Read full article -
First direct export shipment a win for Mackay growers
The first direct export sale in Mackay Sugar’s history shipped in September, with 24,000 mt of raw sugar leaving for Japan aboard the MV Crystal Island. The MV Crystal Island left the Port of Mackay on 18 September and arrived in Japan in early October. Thanks to new marketing arrangements, the direct sale means that costs previously associated with transferring export sugar through QSL or its predecessors are no longer paid, putting more money into growers’ pockets. In the current environment of low w...Read full article -
2020 Season QCS grower information sessions
Each year, growers have the opportunity to choose their GEI sugar marketer (or marketers) for the upcoming season. With the 2020 Season deadline of 31 October approaching, QCS is hosting grower information sessions. The sessions will include a short presentation about marketing GEI sugar with QCS in the 2020 Season, followed by an informal discussion (including questions). Mackay growers are invited to attend any of the following sessions: Date & time Venue 7.00pm, Tuesday 1 October St Helens B...Read full article -
New addition to the QCS team
QCS has appointed Mr Arthur Douglas to join its Mackay-based team as QCS’ Grower Services Officer. Arthur is a well-known face around the Mackay region, having worked as an Agribusiness Banking Manager with the National Australia Bank in the Mackay and Rockhampton regions for two decades. Arthur brings an outstanding record of building and maintaining customer relationships, in-depth knowledge of the sugar industry and a strong understanding of financial risk and cashflow management for agricultural busine...Read full article -
Experienced trader joins QCS
Queensland Commodity Services (QCS) today announced the engagement of new trading manager, Darren Chen. “We are very pleased to have been able to secure Darren’s services on a contract basis from 7 May,” said QCS General Manager Brent Casey. “Darren has spent over ten years with international sugar trade houses Cargill and, most recently, Alvean. “Cargill is the largest privately-owned corporation in America, with major businesses trading, purchasing and distributing agricultural commodities acro...Read full article -
New season brings change for QCS
This year’s crush will see a new trading manager at Queensland Commodity Services (QCS), Mackay Sugar Limited’s GEI sugar marketer. QCS General Manager Mr Brent Casey announced today that the current trading manager, Stephen Stone, had resigned from QCS, with his resignation taking immediate effect. “We’d first and foremost like to thank Steve for his valuable contribution to the strong returns achieved by QCS over the past two seasons,” Mr Casey said. “QCS has benefited from Steve’s knowledg...Read full article -
Grower choice information sessions next week
QCS is hosting a number of grower information sessions next week, to talk about your choice in sugar marketing for the upcoming 2019 Season and to answer any questions you may have. You are invited to attend any of the following sessions: Date & time Venue 9.30am, Wednesday 20 February Joseph & Stephen Muscat’s shed, Oakenden. 4.00pm, Wednesday 20 February Stephen McKeering’s shed, Mirani. 9.30am, Thursday 21 February Stuart Volker’s shed, Kuttabul. There's n...Read full article