Wednesday, 18 August 2021
The rally in raw sugar prices found another gear last week as speculative buying off the back of the published UNICA (Brazilian Sugarcane Industry Association) report was met with little selling resistance.
The October 2021 ICE 11 contract climbed from 18.36 USc/lb to a high on Friday of 20.10 USc/lb before closing the week up 127 points at 19.95 USc/lb.
The Australian Dollar (AUD) stabilised in a narrow range for yet another week as the volatility in risk sentiment continued to slow.
The AUD traded from its low of 73.16 US cents on the Monday to its high on Thursday of 73.89 US cents.