Monday, 22 January 2018
Sugar continued south last week as the speculative funds ruled the market.
The AUD/USD added pressure to the mix, pushing past the 0.80-cent mark and driving AUD sugar levels below $360.
If the US Senate passes the spending bill it will give some relief to the AUD, but the uncertainty of the government will not assist the AUD too much lower.
The surplus continues to hold the market in the lower end of the range and until the low prices drive a cut in production, the surplus looks set to remain.
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