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QSL Monthly Market Report - October 2017

Thursday, 12 October 2017

During early-to-mid September we experienced a recovery for sugar prices in the lead up to the Oct 17 expiry.

Speculators bought back futures contracts to close out their sold positions and some Brazilian buying activity took place to enable more ethanol production.

We also finally felt a bit of weakness in the AUD/USD.

The net impact was that towards the end of September the prompt prices poked back above A$400/metric tonne (mt), and reached levels for the 2018 Season around A$440/mt at the same time.

Over the past few weeks since then the market has fallen away again, with sugar prices falling and the AUD/USD strengthening.  

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