In this week's QSL Market Update:

  • The funds and speculators continue to feature heavily in sugar, albeit with lighter volumes, while system trading following technical trends is pushing the market into making progressively higher highs and lows
  • All eyes remain on India, where the harvest has now started. Around 2 million tonnes of sugar have been produced to date, and as production ramps up, the Indian domestic sugar price (known as the Minimum Selling Price) will come under increasing pressure, with no export subsidy to support it as yet
  • Despite President Trump's attempts to explore every legal avenue possible to overturn the election result, his recent instruction for the General Services Administration to prepare transition protocols was a clear signal to the market that he is preparing to exit the White House. This saw a strong rally in US equities and risk assets

To read our full QSL Market Update, please click here.

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Queensland Sugar Limited published this content on 25 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2020 11:06:00 UTC