Daily Market Price Updates and Commentary 20th May 2025

Raw Sugar Update

The market continued to trundle along slowly on the resumption, and though initial unchanged trades soon gave way to a dip into the upper 17.30’s the market was showing little intent to push much further. The losses were then erased to place Jul’25 back to a small credit by the end of the morning though interest levels remained low with hopes now resting on US specs to provide some movement and prevent the session descending into another slow drift. This proved to be forlorn hope as values simply continued along a similar path well into the afternoon, with noteworthy movement on being seen during the last couple of hours. Again, it was the downside that saw the movement with some fresh selling emerging and sending Jul’25 down to 17.26 before it dug in and mounted a late comeback against the usual end of day position covering. Still the market remained lower with Jul’25 posting a settlement at 17.34, bringing another slow and tedious session to a conclusion by maintaining the lower drift even if there remains some work to if we are to revisit the earl month low at 16.97.

White Sugar Update

Having started the day with trades in proximity of last night’s closing levels the market soon returned to its recent style as pressure was applied to Aug’25 which sent it down to $486.00. This is just $2.00 above the lows recorded at the start of the month and while some consumer pricing interest was found against this chart point the market remains in a vulnerable position. Across of the rest of the morning the value gradually worked back away from this low as short covering combined with consumer interest to nudge back to the $490.00 area, though as with recent days the movement was based on limited volume as most sellers continue to stand aside. Through into the afternoon trading became a little choppier and along the way we saw a high at $491.60, but again the upside was proving unsustainable and with a couple of hours remaining the spec sellers returned to reapply the pressure and send the market back down. Despite trading within 0.10c of the morning low there was no fresh ground broken ahead of the close, and though an eventful ending saw prices move back up on short covering a settlement level at $487.10 suggests we may see further attempts to test the recent lows.