Wednesday, 11 November 2020
In this week's Market Update:
- Unrest continues as Trump refuses to concede in the face of a Biden win, instead making claims of voter fraud. The ICE 11 raw sugar market has been equally volatile
- The Commitment of Traders report as of 3 November decreased by approximately 17,000 contracts, reporting a net-long position of 245,500 lots to close out the week
- The Indian Food Minister is still holding his previously stated position that no subsidies for sugar exports are being considered, much to the ire of Indian growers and millers
- It has been a huge fortnight for the Australian Dollar (AUD), which struggled for any upside momentum early in the month, briefly dipping below 70 cents against the US Dollar (USD) on the first trading day of the month, before really hitting its straps last week and trading as high as 73.40 cents on Monday
To read our full QSL Market Update, please click here.