July 1, 2016The world is running short on sugar and the tighter supplies are driving prices to the highest in almost four years.
July 1, 2016Posted Thu at 11:54am Sugar being stored at one of Queensland Sugar Limited's bulk terminals PHOTO: The global sugar price has hit a four year high overnight. (Supplied by Queensland Sugar Limited) MAP: Mackay 4740 The global sugar price continues its strong rally this year, jumping 5 per cent in overnight trading in New York. It is currently buying 20.82 US cents a pound, its highest level since August 2012. A worldwide supply shortage plus a slow harvest in Brazil has seen sugar attract increased interest from investors.
June 14, 2016* Harvest weather returns to Brazil's sugar regions * Weak pound supports London cocoa By David Brough LONDON, June 13 (Reuters) - Raw sugar futures on ICE held steady on Monday near a 2-1/2-year peak with dealers focused on improving harvest weather in Brazil, while arabica coffee was little changed as worries over frost risks eased. A weakening pound, pressured by concerns over the coming British vote on EU membership, gave support to London cocoa. Raw sugar steadied, with a focus on improving conditions for the cane crush in centre-south Brazil. "The weather across Brazil's centre-south has improved markedly over the past few days as dry weather returns across the region allowing the crush to push into top gear again and port loadings to get back to normal," a broker said. Dealers noted that speculators again boosted the record net long position in raw sugar contracts on ICE they have held since early May in the week ended June 7, according to U.S. data.
June 7, 2016Marvin G Perez Fabiana Batista Megan Durisin This year’s rebound in oil prices has an unlikely victim: the dessert plate. To understand why, look no further than Usina Batatais SA, a sugar-cane processor in Sao Paulo. Enticing fuel margins mean the company is using a bigger cane crop to produce more ethanol, while keeping its raw sugar output unchanged. Even after sugar prices surged recently, “there’s no time and cane anymore” to make a switch, said Bernardo Biagi, Batatais’ president.
June 2, 2016* Coming up: Brazil Unica cane crush data due at 1300 GMT * NY July/September cocoa spread narrows By David Brough and Nigel Hunt LONDON, June 1 (Reuters) - Raw sugar futures on ICE fell on Wednesday before Brazilian cane data expected to show a strong crush for the first half of May, while cocoa eased in spread-related dealings. Coffee steadied, supported by concerns over a poor Brazilian robusta (conillon) harvest. Raw sugar dipped, moving away from Tuesday's 23-month peak, supported by a shift to a global deficit. Dealers awaited Brazilian data from cane industry group Unica at 1300 GMT, expected to show a rapid crush in early May. "We expect that the data will show a continued strong harvest in the first half of May. Our guess is that it will be close to 40 million tonnes of cane," said Tom McNeill, director of Green Pool Commodities.
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Mon, 3:52 pmCyclone Debbie wreaked havoc in Australia’s cane crop, snapping cane and flooding N.Qld, while flooding in Northern NSW is yet to subside
Mon, 3:51 pmRaw sugar was first quarter 2017’s worst performing commodity down 13%, as specs cut their net long further to only 56k last Tuesday
Mon, 3:49 pmCyclone Debbie off Australia’s coast could damage sugar cane, with destructive winds and heavy rain forecast between Townsville and Mackay
Mon, 3:47 pmDespite a big Mar futures delivery, fundamental support could be emerging as raw sugar physical premiums rose, as did refining margins
Mon, 3:44 pmSugarcane areas in Queensland’s south may see some relief rain this week following unseasonally dry Feb/Mar which has damaged crop growth