Daily Market Price Updates and Commentary 17th June 2025

Raw Sugar Update

With the Jul’25 options now expired the market moves into expiry mode and the wider focus now shifts to the Oct’25 contract. Here the market showed struggle during the early stages as a lack of continuation buying meant that prices were unable to continue above 17c as they ended yesterday’s session and instead return to sit at 16.80. Volume fell away and the rest of the morning saw no other interest with prices only starting to see more movement as the Americas day got underway. With limited buying away from the lows the pressure applied to the market by specs was effective and Oct’25 was sold back down to 16.44 at a reasonable pace before finding some support and levelling out again. There was also some grower selling on the way down though that faded away once the price returned to the lower levels, though this did not allow for much recovery as the remainder of the session saw us track along at the bottom end. Session lows were printed at 16.41 for Oct’25 and 15.98 for the spot month, and while there was some end of day position cover taken which enabled Oct’25 to settle at 16.51 the overall sentiment was back to bearish. 

White Sugar Update

Aug’25 started the day a couple of dollars lower and though some buying then filtered through to bring the price back within $0.40c of last nights closing value it was clear to see that there was no continuation of yesterday’s late momentum. Through the rest of the morning trading became confined to an increasingly tight band, awaiting the arrival of US specs/funds to provide some impetus and movement. It soon became clear that the influence of these fund shorts over the No.11 was weighing over the market and so across the following hours the price steadily declined back towards the mid $460’s. This selling had so me influence over the white premium values with Aug/Jul’25 dropping back away to $112.00, though given the proximity of the market to the recent lows the consolidation of so much of the recent gain remains impressive. A little more of the premium gain was returned later in the afternoon as Aug’25 selling sent the market back to more daily lows, extending to $463.70 late on and leaving the premium at $110.80. Aug’25 meanwhile settled at $465.30 and appears vulnerable to more downside testing after such a rapid faltering of the rally.