Market Headlines Raw sugar prices remained well supported through the second half of September and into October as multiple fundamental factors combine to keep a floor in the world price: Drought and frost in Brazil has reduced the 2021 crop size by an estimated 75 million tonnes of cane (12%) compared to 2020. Brazil’s Centre…
Market Headlines Sugar found relative stability through the back half of August and into September trading mostly within the 19 US cents per pound range for this period. This has meant a spot value of sugar hovering around AUD 600 per Metric Tonne (MT) and the forward 2022 value holding a round AUD 550 with…
Market Headlines Sugar broke through its previous price range in late July pushing above 18 cents per pound as the market began buying into the news of large frost damage in Brazil on top of an already drought stressed crop. The UNICA report released on 10 August went some of the way to confirm that…
Market Headlines The sugar market continues to trade between 16 and 18 US cents per pound pushing above 18 c/lb briefly in early July as frosts impacted Southern areas of Brazil. At the time of the frosts the market reacted strongly to the possibility that substantial damage may be done to the crop currently being…
Market Headlines Over the past month the sugar market has plateaued near its recent peak around $500 per metric tonne. A strengthening macroeconomic picture and continued concerns surrounding Brazil’s cane crop have buoyed the market.Brazil is more than 2 months into the official start of their crushing season. However, it is important to note that…
2021 Forward Pricing & Pool Update After beginning April at a spot value of 14.77 US cents per pound sugar sustained a rally for most of the period, peaking at 18.14 c/lb on the 12th of May. During the past 6 weeks MSF has filled a significant volume of grower orders via the 2021 season…
2021 Forward Pricing & Pool Update MSF filled 2021 grower individual forward pricing orders at $450 and slightly better on several occasions through the months of February and March. The 2021 price has since retreated to currently be hovering around $430 per metric tonne actual. On top of the good results achieved by individual growers…
2021 Forward Pricing Update MSF has filled 2021 grower forward pricing orders at and slightly above $450 per Metric Tonne actual on multiple occasions recently, 22nd, 23rd and 26th of February. It seems that given the improving macroeconomic environment (Covid vaccine, global economic recovery) that ICE11 futures values will continue to improve, however, so too…
Pool Update As at the 1st of October the 2020 Late Season Pool was 65% hedged on sugar and 55% hedged on currency at a Mark-to-Market value of $399.30 per Metric Tonne IPS. This represents a $3/MT IPS improvement from the August Advance value. Similarly, the value of the 2020 Shared Pool has improved by…
Pool Update Minimal hedging has been completed on the 2020 Late Season Pool since the previous pool update on 26th of August as ICE11 sugar futures prices tracked south for most of the past month. See below MSF’s 2020 Pool values. The 2020 Shared Pool continues to go from strength to strength having been revised…
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