Daily Market Price Updates and Commentary 18th November 2025

Raw Sugar Update 

A very quiet start to trading saw March’26 initially unchanged at 14.80 and then continue within a narrow band either side of this mark through the early stages. Moving through the morning the band tightened even further to the upper 14.70’s, and noon arrived with the market having seen a mere 14.72/14.88 band. Some small trader interest fueled a run back towards the highs, but it did not sustain and were it not for a mid afternoon spike down to 14.63 the morning range would likely have held for the duration of trading, such was the disinterest. Spreads ere also quiet with March/May’25 seeing a small volume as it sat near to 0.43 points throughout, the market increasingly providing the impression that traders were simply counting down time until the close. Although the price came under a little more pressure through the final hour there was no attempt made to challenge the earlier lows as March’26 moved only as far as 14.68 before ending at 14.70. This meant another mild loss after Fridays rally, though the fact that prices are not collapsing will be providing some comfort for longs who have been attempting to continue building a bottom on the chart.   

White Sugar Upadte

March’26 made some small efforts to nudge upwards during the early part of the morning, but having failed to gain any traction activity then calmed with the next couple of hours playing out near to the overnight $418.10 mark. It was only as the afternoon arrived that the market received a spark and the spot drove ahead to $422.60, however there was no strong interest from the industrials and so when the move stalled the profit taking/liquidation was not far away. This provided a signal for what was to follow across the rest of the afternoon with smaller traders continuing to look from the long side but failing to make much progress, with marginal new highs at $423.00 all they had to show for their efforts. There was a widening of white premium values as collateral benefit with yesterday’s reversal being recovered as March/March’26 returned to sit in the $96.00 area once again. While the market came under more pressure through the later afternoon and pulled back from the highs we saw the premium value hold firm, and in turn so did the spreads with March/May’26 at $4.30 and March/Aug’25 at $8.50 as the spot looked to maintain credit while the rest of the board turned red. The close was a calm affair with March’26 settling at $420.20 to bring a second consecutive inside chart day to a conclusion.