Sugar #5 Oct’21
With No.11 closed for a US holiday there was little excitement to be found in the market this morning with the only volume of any note being seen against the Oct/Dec’21 spread as traders look to move hedges forward ahead of next week’s Oct’21 contract expiry. Despite the limited flat price interest the market did move higher on the back of this spread activity during the early stages with Oct’21 trading as high as $488.50 as the spread was pushed up from an overnight -$21.60 to trade to -$19.20. Ordinarily this may have provided the basis from which to try to recoup more of last Friday’s lost ground however the sense of apathy meant that it was not to be and instead we simply bobbed about within the range, slipping back beneath unchanged levels mid-session and then picking back up as we moved through the afternoon. That was pretty much it as we remained toward the centre of the range approaching the close, and though there was a bit of volatility during the final 10 minutes we remained only moderately higher with Oct’21 settling at $486.70.
ICE Futures U.S. Sugar No.11 Contract
ICE Europe Whites Sugar Futures Contract