Raw Sugar Update
The No.11 opened at 15.01 and drifted lower throughout the session. After briefly touching the day’s high at the open, prices began to ease through the morning amid potential speculative liquidation and light commercial selling. Momentum gradually weakened as the market slipped below 14.70, with little evidence of strong buying support. By midday, prices stabilized around the mid-14.50s, suggesting a cautious tone among participants and muted trade activity. However, the softness persisted into the afternoon, with the contract extending losses to a session low of 14.34. A mild recovery followed later in the day, likely on short-covering interest, but it lacked follow-through. The session ultimately settled at 14.47, near the lower end of the day’s range , maintaining a bearish tone as sentiment remained subdued and traders awaited fresh market cues.
| Raw Sugar No.11 (SB) – ICE Futures US Softs | ||||||||
| Month | Open | High | Low | Sett | Chg | Last | Vol | O/I |
| Mar’26 | 15.01 | 15.04 | 14.34 | 14.46 | -0.51 | 14.47 | 84,176 | 469,623 |
| May’26 | 14.52 | 14.55 | 13.94 | 14.08 | -0.40 | 14.08 | 34,984 | 160,828 |
| Jul’26 | 14.40 | 14.44 | 13.87 | 14.01 | -0.35 | 14.03 | 15,373 | 103,795 |
| Oct’26 | 14.60 | 14.65 | 14.11 | 14.25 | -0.32 | 14.26 | 7,771 | 66,539 |
| Mar’27 | 15.14 | 15.16 | 14.67 | 14.81 | -0.28 | 14.82 | 4,152 | 36,861 |
| May’27 | 14.87 | 14.90 | 14.46 | 14.59 | -0.23 | 14.60 | 1,782 | 19,743 |
| Jul’27 | 14.80 | 14.81 | 14.41 | 14.53 | -0.20 | 14.54 | 1,142 | 15,182 |
| Oct’27 | 15.06 | 15.06 | 14.60 | 14.72 | -0.16 | 14.72 | 831 | 13,294 |
| Mar’28 | 15.43 | 15.43 | 15.07 | 15.19 | -0.13 | 15.19 | 750 | 4,693 |
| May’28 | 15.50 | 15.50 | 14.82 | 14.93 | -0.11 | 14.82 | 275 | 2,089 |
| Jul’28 | 15.03 | 15.05 | 14.74 | 14.85 | -0.09 | 14.74 | 188 | 1,514 |
| Total | 151,424 | 894,161 | ||||||
White Sugar Update
The No.5 contract opened at 430.8 and fell sharply through the early session, slipping below 425 within the first hour as the market came under steady downward pressure. The initial weakness appeared driven by potential speculative selling and a lack of commercial bids, allowing prices to extend losses toward the session low of 415.30 by early afternoon. Following the sell-off, a period of consolidation emerged around the lower 416 – 418 range, suggesting short-term exhaustion among sellers. Gradual short-covering and light buying interest helped lift prices modestly into the late session, but momentum remained limited. The market eventually settled at 421.80, well below the day’s open – marking a firmly bearish close despite the late recovery. Overall, the session reflected persistent downside pressure across the white’s complex, with sentiment remaining quite bearish and liquidity relatively light.
| White Sugar No.5 (QW) – ICE Futures Europe Commodities | ||||||||
| Month | Open | High | Low | Sett | Chg | Last | Vol | O/I |
| Dec’25 | 430.80 | 431.30 | 415.20 | 422.20 | -9.10 | 422.20 | 11,990 | 61,962 |
| Mar’26 | 424.70 | 425.70 | 410.70 | 416.20 | -9.00 | 416.30 | 9,735 | 46,145 |
| May’26 | 419.90 | 420.60 | 407.30 | 411.70 | -8.60 | 411.60 | 3,490 | 20,133 |
| Aug’26 | 415.40 | 416.10 | 404.40 | 408.60 | -7.20 | 408.80 | 1,752 | 8,975 |
| Oct’26 | 414.10 | 414.70 | 403.40 | 408.00 | -6.20 | 408.40 | 570 | 4,660 |
| Dec’26 | 417.50 | 417.80 | 406.70 | 411.70 | -5.20 | 411.30 | 453 | 2,996 |
| Mar’27 | 423.80 | 423.80 | 413.00 | 418.00 | -4.90 | 417.30 | 363 | 1,915 |
| May’27 | 429.40 | 429.40 | 419.70 | 423.70 | -4.70 | 419.70 | 182 | 692 |
| Aug’27 | 432.30 | 432.30 | 424.50 | 428.40 | -4.70 | 424.50 | 35 | 586 |
| Oct’27 | 435.00 | 435.00 | 430.20 | 431.00 | -4.60 | 431.60 | 34 | 570 |
| Dec’27 | 435.00 | 435.30 | 435.00 | 435.40 | -4.10 | 435.30 | 30 | 311 |
| Mar’28 | 440.10 | 440.40 | 440.10 | 440.50 | -4.30 | 440.40 | 2 | 193 |
| May’28 | – | – | – | 444.50 | -4.30 | – | – | 146 |
| Aug’28 | – | – | – | 447.20 | -4.30 | – | – | – |
| Total | 28,636 | 149,284 | ||||||