Daily Market Price Updates and Commentary 12th January 2025

Raw Sugar Update

The V5 contract opened the session at 16.55 and saw only brief early weakness, dipping to the day’s low of 16.53 shortly after the open. From there, buying momentum quickly took hold, with steady upward movement throughout the morning and into midday, as the market consistently printed higher lows. Momentum accelerated in the early afternoon, with a sharp push lifting prices toward the session high of 17.05 – a solid gain of 0.50 from the open. Some profit-taking emerged after this peak, causing a minor pullback, but overall sentiment remained bullish. The market held firm through the latter part of the session, consolidating gains just below the day’s top levels and closing strongly at 16.95. The close near the upper end of the range underscores persistent buying interest and a decisive bullish tone across the day’s trade.

White Sugar Update

The whites V5 contract opened at 476.80, marking the session low, before immediately attracting strong buying interest. Prices climbed steadily through the morning, with only brief pauses, as bullish momentum pushed the market higher. By early afternoon, the rally gained further traction, breaking through multiple minor resistance levels and accelerating toward the day’s high of 487.50. The move was supported by consistent upward pressure, with dips quickly met by fresh buying. Although some minor pullbacks occurred after reaching the peak, they were shallow and short-lived. The market held most of its gains into the close, finishing at 486.80 – near the top of the day’s range – signaling strong underlying demand and a firm bullish bias throughout the session.