Monday, 21 May 2018
Sugar prices continued to consolidate, trading inside the range last week. However this is the first full week of gains after 10 weeks of downward slides.
The state of the Brazilian crop is finally getting some head wind on the news wires, but it is still too early to make a clear call on the size and quality of the crop.
The Australian sugar price pushed higher over the past week, reaching $360 AUD/mt for the 2018 Season, but just how long this rally will last is anyone’s guess and once the Brazilian good news story fades the market will adjust once again.