Category: KCGO News
The latest news from Kalamia Cane Growers and Kalagro for Members Only.
QSL Market Update
Wilmar Daily Loading Advice
Loading Advice – 28th June 2019
Invicta 22 178
Kalamia 11 107
Pioneer 10 904
Inkerman 12 785
Total 56 974
QSL Weekly Update – 25 June 2019
Indicative ICE 11 Prices
*These figures are indicative of available ICE 11 prices as at 25 June 2019 and reflect the weighted average AUD/mt price. The prices have been adjusted to include Over-the-Counter margin fees charged by banking institutions and so may differ from daily prices quoted by the ICE #11 Exchange and/or other Marketers of Growers’ Economic Interest in Sugar. Values also do not account for any adjustments resulting from local Grower-Miller pricing arrangements.
Weekly Market Overview
By QSL Trading Analyst Barbara Roberts
SUGAR
As the graph below demonstrates, sugar prices lost momentum throughout last week. Buyers now have their final chance to close their position before expiry. Central American and Mexican sugar is to be delivered against the tape. Technicals hold the blame for the price drop, as Funds mostly rolled their position to the October contract.
Around the sugar world
• Fundamentals remained stagnant last week.
• India: Maharashtra reservoirs are holding 4% of the total capacity, according to figures from the government’s Central Water Commission.
• Corn prices went up 30% in a month on delays to planting in the US due to rain.
• Brazil is still holding strong ethanol demand and the current corn production problems in the US could possibly shift Brazil’s relationship with the US from an importer to an exporter. This is very bullish for ethanol.
Commitment of Traders: Speculators’ movements for this reporting period were as expected from 127,000 to 100,000 lots. It seems like the specs have moved to the next prompt contract and are impacting prices. This cycle is demonstrated in the following flow-chart:
CURRENCY
• The Aussie Dollar (AUD) kept its same trading range, losing its steam through the week.
• The United States Dollar (USD) was heavily pressured downwards, which is why the AUD was able to hold it together.
It’s all about monetary policies
• The current scenario of trade and global growth uncertainties is forcing Central Banks around the world to discuss their monetary policies.
• The U.S. Federal Reserve held their target range cash rate at 2.25%-2.5% as expected, although at the FOMC (Federal Open Market Committee) meeting 8 of 17 voters forecast cuts before the end of 2019. Apparently The Fed has changed its bias and is waiting for the outcomes from the upcoming G20 meeting between U.S. President Trump and Chinese President Xi. This decision has encouraged the market to increase expectations in regards to rate cuts.
• The shooting down of a U.S. Navy drone over the Strait of Hormuz by Iranian forces has started another war for President Trump. He has levied new sanctions on Iran, although so far that hasn’t impacted oil prices.
Wilmar Burdekin Budget v’s Actual
Burdekin Shire Council 2019/20 Budget – At a Glance
BURDEKIN SHIRE COUNCIL 2019/20 BUDGET – AT A GLANCE
Burdekin Shire Council today handed down its budget for the 2019/2020 financial year. Snapshot of budget is attached for your information.
Have highlighted a number of relevant points from full budget document.
• Category A – Residential general rate cents in the dollar has increased from $0.01478 to $0.01645 an increase of 11.30%
• Category D – Sugar Cane general rate cents in the dollar has decreased from $0.03984 to $0.03700 a decrease of 7.13%
• Estimated Operating Surplus for 2018/2019 year – $2,782,963 (98.28% above original budget)
• Estimated Net Result for 2018/2019 year – $5,643,529 (24.06% above original budget)
• Projected Operating Surplus for 2019/2020 year – $422,515
• Projected Net Result for 2019/2020 year – $6,298,123
• Interest on outstanding rates and charges – 9% compound interest charged on daily rests
• Ratepayers who meet the criteria for financial hardship and satisfactorily complete a mutually agreed payment plan will be eligible for reimbursement of 50% of interest charges.
Les Elphinstone
Manager / Company Secretary
Burdekin Community Association – Be Connected to Technology
BBIFMAC Meeting – Controlled Release Fertilisers
Wilmar Daily Loading Advice
Tuesday 25 June 2019
Invicta 13 255
Kalamia 6 279
Pioneer 11 850
Inkerman 7 149
TOTAL 38 533
“Reminder – LBW Triennial Elections – Nominations are Open
“REMINDER – LBW TRIENNIAL ELECTIONS – NOMINATIONS ARE OPEN
A reminder to members that LBW has called nominations for four persons eligible to be elected as Directors of Lower Burdekin Water. Two (2) directors are to be nominated and elected from ratepayers in each of the (2) two divisions by ratepayers of Lower Burdekin Water for a three (3) year term. The nomination period is drawing to a close with only one week to go.
Since the inception of the North and South Burdekin Water Boards in 1965 and 1966 respectively, growers have always had seats at the table helping shape the direction and management of groundwater recharge and water distribution in the Burdekin Delta. LBW invite ratepayer growers to nominate for a position on the Board and participate in the management of groundwater in the Delta. The nomination documentation is available on LBW’s website http://lowerburdekinwater.com.au/resource-library/documents/ and LBW staff are available to assist ratepayers with their nomination paperwork if required.”