Daily Market Price Updates and Commentary 10th October 2025

Raw Sugar Update 

It was a very calm morning for No.11 with the market holding a tight band which saw the March’26 contract sit between 16.24 and 16.35 across the first four hours of trading. After falling back over the last two days there was a little more pressure starting to be applied from the US during the early afternoon, though it only served to widen the range by a few points as support in the lower 16.20’s held firm. It appeared we would head into the weekend quietly when the 16.20 levels cracked with around two hours of trading remaining and drew fresh spec selling which quickly placed the 16.00 level under pressure. This briefly gave ay as lows were made at 15.97, though the process soon ticked back above the psychological mark as consumer buying kicked in and triggered some to cover back shorts. Through the final hour there was some gradual recovery to end at 16.10, leaving the market still holding in the lower part of the current range as we head into the weekend. 

White Sugar Update 

There was little to get excited about with the early part of the session spent tracking along near to overnight levels, and although there was a brief move up to $454.20 against moderate buying it did not sustain, and sideways trend soon resumed. Smaller traders were showing little interest in moving the market very far, and while there were another couple of pushes upwards during the early afternoon these both ended short of the morning high. There was some spread interest being seen today with Dec’25/Mrch’26 finding renewed buying interest which was allowing it to reverse some of the recent loss and move back to a $4.00 premium. This spread gain maintained through a dip to $447.30 later in the day as shorts looked to challenge yesterdays low and end the week negatively. Their efforts almost succeeded and moved us within $0.20 of yesterdays low mark before short covering kicked in and drew values back to overnight levels just minutes ahead of the close. There was some mixed activity through the call which sent Dec’25 out at $450.40, while Dec’25/March’26 closed at $3.90 and the March/March’26 premium ended at $92.50.