Daily Market Price Updates and Commentary 15th May 2025

Raw Sugar Update

Early losses quickly grew following a marginally lower opening and with little consumer buying interest at the current elevated values the market only paused having fallen back to 17.76. This allowed the opportunity to reassess across the rest of the morning while trading took place within the early range, though it soon became clear that Tuesday’s positive movement around UNICA was now old news and disregarded when the early afternoon saw the lows coming back under scrutiny. Funds continue to run a net short book and while some positions will have been covered on the rally the negative view was seeing positions reestablished alongside the usual day trader and algo activities. This combination sent Jul’25 as low as 17.57 through the afternoon before finding some respite later in the session as the selling eased and some position covering / profit taking filtered through. Still there was no real recovery and the market simply ticked along at the bottom end of the range until the close, reaching an eventual settlement at 17.67. This is at the centre of this months 16.97/18.29 trading band as we still struggle to find significant direction.   

White Sugar Update

A lower opening saw had the market immediately continuing yesterday’s weakness, and with buyers still proving difficult to find we saw Aug’25 fall to $496.00 after just an hour of trading. Across the rest of the morning there was an effort made to stabilize, and the losses were reduced, but with buyers unable to break the market clear of $500 again interest faded away and with it so did the price. The fall was gradual but constant across the following three hours and led the market all the way down to $491.40 before finding some respite against consumer buying / pricing activity. This ended the losses, but it did not prove easy to recover the lost ground and following a small period of short covering trading took place amidst a tight range just a small way above the lows. The losses were gain being felt for the nearby spreads and Aug/Oct’25 saw new recent lows registered at $3.60 to restate the bearish sentiment that has been more prevalent of late. With the market flatlining towards the close the scale of the losses was outstripping those for No.11 so sending the Aug/Jul’25 value down to $103.50 and Oct/Oct’25 to $96.00. Aug’25 settlement was made at $493.00 to bring the curtain down on another weak performance that draws the market closer to this months $484.00 lows.