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QSL Market Update

Tuesday, 03 May 2022

The ICE 11 raw sugar market appeared to find a short-term floor after bouncing off the 18.80 USc/lb level (basis July 2022 contract) for the first four days of last week as the market battled between waiting for fresh fundamental news out of Centre South (CS) Brazil and the increasingly negative macroeconomic picture.

The now prompt July 2022 contract traded from a low of 18.32 USc/lb on Tuesday to a high of 19.40 USc/lb on the Friday, closing the week at 19.15 USc/lb – virtually unchanged week on week. 

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