Daily Market Price Updates and Commentary 20th January 2026

Raw Sugar Update

The market opened a touch lower and though some light buying took the price briefly higher to 14.98 it soon dipped back to a small deficit. Lows were registered at 14.88 before the market stabilised into the lower/mid 14.90’s, an area which then prevailed for several hours. Interest was minimal with no move being made to influence the price in either direction, with the arrival of the Americas entities passing with a whimper and failing to change the static nature of proceedings. It was the middle of the afternoon before the picture showed some change and the movement was provided by specs who applied some pressure and sent the market lower, likely encouraged by the continued presence of overhead grower selling. The quick fall to the upper 14.70’s failed to bring any continuation selling, with the larger funds not joining the movement, and with last weeks COT showing the spec short increased to -190,210 lots it most likely requires a break to fresh ground to draw more interest from the wider sector. Still the pressure remained on and there was a move to 14.70 during the final hour, and while the wider context is changes nothing the days provides further evidence that 15.00 remains a sticking point at the present time with March’26 ending the day at 14.72.

White Sugar Update

Having threatened to push higher yesterday before ultimately failing to do so there was more limited enthusiasm meeting the market this morning and that enabled values to drift through early trading. March’26 set back to $424.20 before gathering itself up and aided by a static No.11 market traders pulled back to overnight levels early in the afternoon to redress losses that had been incurred on the white premiums. Consolidation followed in this area but following yesterdays showing there was no willingness to again attempt higher and instead a high was marked at $428.10 before eventually slipping back once more. On the first dip prices fell speedily through the established range, but that was not the end of the pressure and a second dip followed as the final hour arrived which extended the losses to $421.40. No additional losses were made, though value struggled to recover by much and continued at the lower end of the range into the close. March/May’26 ended the dat at $0.90 following another day of steady rolling, while the March’26 settlement level at $422.50 places it to the centre of the range seen so far this month.