Daily Market Price Updates and Commentary 14th October 2025

Raw Sugar Update

Though the pre-open showed a higher opening indication there was selling being held back and once the session got underway the market immediately renewed its lower path. March’26 slipped from 15.60 to 15.43 across the first five minutes, and with no sign of any tangible fresh interest against physicals the price remained subdued through the early stages. Additional selling pushed March’26 down a little further into the assorted consumer scale across the rest of the morning, extending the lows to 15.36 as specs added further to their short holding. The movement was still not having any real impact over the spreads, and the early afternoon brought some small respite from the recent weakness with a short covering push back into the 15.50’s. There was a pause for a couple of hours until a push through 15.60 to new daily highs triggered more aggressive short covering, setting the market on a higher path for the rest of the session and reversing some of yesterday loss. This recovery culminated in highs of 15.94 heading into the close, with settlement made at 15.88 to complete a reversal which provides the first higher close in over a week. Whether it serves to trigger more buying and further correction remains to be seen as funds will be aware that any sizable rally will draw in the producers and so may have limited scope. 

White Sugar Update

The day started a couple of dollars lower in reaction to the weaker No.11, and through the early stages the price slipped a small way below yesterdays $440.00 low mark to place greater pressure over proceedings. Across the rest of the morning De’25 continued to scrape along near to the lows and traded down to $438.90 just before noon, a mere $0.10 above July’s contract low to mark a double bottom on the chart. This level held as we moved into the afternoon, though the price was still tracking along only a small way above, but things then changed with a sudden corrective move higher. There was little resistance to be found while Dec’25 moved through to $448.00, and after a pause we then saw more covering into the close which spiked the price up to $453.20. Nearby spreads benefitted hugely o this recovery and Dec’25/March’26 moved back to $6.00 by the end of the session, though this in turn nudged the white premiums back as the failure of the rest of the board to match Dec’25 left values a dollar or two softer. The strong close saw Dec’25 finish at $450.80, and with the double bottom in place there is reason to believe that the market has an improved opportunity to build a bottom.