The white sugar market opened today with a continuation of yesterday’s downwards movement, immediately declining by 3USD to the session low of 543.6USD/tonne. However, over the next few hours and on very little volume Aug’24 futures began to recover, trading back through the open and as high as 550USD/tonne before reaching some resistance by the halfway point of the day. Through into the afternoon, and on slightly better volumes prices spiked higher, surpassing the previous day’s high before a slow grind higher again into the close, finishing the day at 554.3USD/tonne, almost 8USD up on yesterday and breaking this week’s so far negative theme. This is despite the expected pressure caused by the absence of trading on the No.11 due to US public holiday


Sugar market No.11 is closed today due to Juneteenth holiday.

Jon Whybrow

Jon joined CZ in 1991, working in the Treasury department before moving to join the derivatives team in 1994. Over 30 years Jon has built up significant experience across derivatives markets and products, particularly sugar, and is now Head of Flow derivatives providing market execution services for CZ’s global client base. He is responsible for the market commentaries which are published each day on CZ app.

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