Daily Market Price Updates and Commentary 1st October 2026

March’27 commenced its tenure as spot with some positive movement, immediately looking to work back up through the recent range. Specs were driving the early effort that saw the price reach once more to 19.00, though as with recent moves there was a lack of substance to the buying which became apparent at the sight of some heavier overhead grower pricing. Inevitable there was some profit taking seen after the progress had stalled, and the picture quietened to leave the market holding on to more modest gains across the rest of the morning. Larger funds remain aside from the market currently and are content to hold their core position added a few weeks ago and so the impact from the US has proved more limited. Much of the afternoon was an example of this struggle as the price action continued within the range but saw successive efforts to push new ground fall short in the low to mid 18.90’s until a more aggressive move extended the high to 19.05. Spreads meanwhile were quiet, and though March/May’27 lost a few points the general air of the market was one of calm despite the flat price efforts. The later stages played out in the 18.90’s to establish a settlement level at 18.94, the highest achieved in more than 2 weeks and providing hope for those looking to move the market up ahead of London Sugar week.  

As anticipated, The Oct’26 expiry saw a tender for 28,574 lots (1,451,631t) of Brazilian sugars.

The market began the day trading higher as it tracked No.11 gains, and the progress continued through the first hour to a Dec’26 high at $516.00. Despite representing a 2-week high there was no continuation of the move, and by the middle of the morning some nerves were being seen with a return to the $509.00 area. Today’s highs represent the third time in this period that the market has topped between $515.60 and $516.00 and smaller traders may begin to view moves with additional caution as the fear of being swung out at a loss grows. The reaction as we moved into the afternoon suggested that this is already happening as the price slipped further to session lows at $503.80, activity which was also seeing the nearby spreads under yet more pressure with Dec’26/March’27 down to -$14.00 while the March/March’27 erased recent recovery and fell to $105.00. There was a rally to $511.50 in reaction to No.11 making new daily highs, but the price set back again through the last hour to further weaken the white premium to $103.50. MOC buying ensured a small gain as we closed at $507.30, though overall it was another uninspiring showing from the whites.