date:Aug 10, 2015
quarter ahead.
May even fall to lower levels
Separately, Tobin Gorey at Commonwealth Bank of Australia said the point was probably close when mills in Brazils key Centre South region would prefer to produce ethanol instead of sugar.
However, in practice, we suspect that prices undershooting the ethanol leak point are not only possible but are highly likely, given a lag that is likely to occur before a switch by mills prompts any buying in sugar futures.
Earlier this week, the International