Daily Market Price Updates and Commentary 14th January 2026

Raw Sugar Update 

There was a familiar feel about the market this morning as early buying held March’26 in the 14.90’s though the moderate volume meant that the 15.00 area remained out of bounds. Having not made it above 14.98 there was a late morning dip back to the 14.80’s, by no means negative but additional evidence of the struggle the market faces to try and move/sustain above 15.00. Moving through noon activity remained slow, however more pressure was then brought to bear upon the market with specs applying pressure that sent prices gradually down into the 14.60’s. The losses came despite the last of the index rebalance volume reaching the market and will generate more concern amongst longs, though a low at 14.63 remains a small way above the early month mark of 14.57 and so does no chart damage at this stage. Spreads showed little change on the day with March/May’26 continuing at 0.33 points, but there remained no way back for the flat price which continued to sit at the lower end of the range through the final few hours. MOC buying did mean that March’26 was marginally above the lows at 14.68, though the nature of today’s showing may draw some more support testing in the near term.    

White Sugar Update 

The day started with some light buying and prices were sitting a dollar or two higher through the early morning, albeit without finding any impetus to try and push beyond yesterdays $430.00 mark. Longs would have been hoping to sustain the gain into the afternoon to try and find some renewed supportive interest, however this did not occur and through the later morning there was an erosion back to the mid $420’s which left values tracking within the range. The early afternoon proved quiet until some long liquidation kicked in, the impact of which was to lose another few dollars in quick time and register a low at $420.00. Movements were in stark contrast to yesterday with white premium values kicked back down their own tight range with March/March’26 slipping below $96.00 for a short period, while March’26 spreads also gave up their recent gains. Prices struggled to mount much of a recovery through the rest of the afternoon and March’26 returned within $0.10 of the lows ahead of the call to provide some negative bias. A small element of position covering saw March’26 settle at $420.90, while March/May’26 ended at $2.00 and March/March’26 at $97.25 to end a disappointing performance.