White Sugar Update
The new month got underway with a mixed start which saw Oct’25 quickly fall back to $490.50, though the selling didn’t last and it was not long before last weeks positive direction was being applied. Though there remained some moderate scale selling above recent highs it was no match for the buying momentum which took the price ever closer to $500 by the middle of the morning and encourage in addition spec buying. This in turn helped the market to surge ahead to $503.80 before the morning was through, a mighty $11 gain which showed the potential/desire from the whites without the constraints of the more negative No.11 for the day. While such significant gains are unlikely to be matched tomorrow morning by the raws, there was no let up in the efforts of the longs as process consolidated the higher levels through into the afternoon. A marginal new high was registered at $503.90, and while no further progress was possible on the day, the rest of the session continued to play out above $500 to leave a strong impression for the charts. Oct/Dec’25 continued to see rolling as the spread moved around the lower/mid-teens before ending the day at $15.80, also highlighting the firmer view for whites at present. Oct’25 meanwhile settled at $502.10 with attention turning to tomorrows No.11 opening to see what reaction (if any) there may be and its impact on our progress.
| White Sugar No.5 (QW) – ICE Futures Europe Commodities | ||||||||
| Month | Open | High | Low | Sett | Chg | Last | Vol | O/I |
| Oct’25 | 493.10 | 503.90 | 490.50 | 502.10 | 9.40 | 502.40 | 9,507 | 41,111 |
| Dec’25 | 477.50 | 488.30 | 476.60 | 486.30 | 8.60 | 486.20 | 9,808 | 51,034 |
| Mar’26 | 471.40 | 480.80 | 470.50 | 479.40 | 8.00 | 479.20 | 3,270 | 24,753 |
| May’26 | 470.30 | 478.90 | 469.20 | 477.70 | 7.80 | 477.40 | 1,428 | 8,052 |
| Aug’26 | 468.30 | 475.80 | 467.40 | 475.60 | 7.70 | 475.80 | 85 | 5,278 |
| Oct’26 | 468.50 | 475.50 | 467.50 | 475.30 | 7.40 | 475.50 | 86 | 3,031 |
| Dec’26 | – | – | – | 477.40 | 6.80 | 470.00 | 58 | 1,890 |
| Mar’27 | 480.20 | 480.20 | 480.20 | 480.30 | 6.10 | 480.20 | 8 | 923 |
| May’27 | – | – | – | 480.80 | 5.50 | 475.20 | – | 350 |
| Aug’27 | – | – | – | 481.50 | 5.50 | 476.00 | – | 268 |
| Oct’27 | – | – | – | 482.50 | 5.50 | 477.00 | – | 271 |
| Dec’27 | – | – | – | 483.70 | 5.50 | 478.00 | – | 65 |
| Mar’28 | – | – | – | 484.90 | 5.50 | – | – | – |
| May’28 | – | – | – | 484.90 | 5.50 | – | – | – |
| Total | 24,250 | 137,026 | ||||||
