ICE Futures U.S. Sugar No.11 Contract
Settlement (cUS$/lb) Open High Low Last Volume O/I Life High Life Low
Oct26 17.56 -0.63 ▼ 18.20 18.66 17.44 17.56 110,885 464,864 20.67 13.70
Mar27 18.58 -0.61 ▼ 19.17 19.62 18.47 18.56 88,709 401,234 19.62 14.42
May27 18.11 -0.43 ▼ 18.50 18.84 17.99 18.08 57,443 160,592 18.84 14.29
Jul27 17.75 -0.31 ▼ 18.06 18.27 17.62 17.73 35,461 112,902 18.27 14.27
Oct27 17.78 -0.27 ▼ 18.01 18.24 17.64 17.76 15,009 69,159 18.26 14.45
Mar28 18.12 -0.24 ▼ 18.31 18.53 18.00 18.11 4,868 33,503 18.58 14.97
May28 17.29 -0.19 ▼ 17.45 17.61 17.21 17.28 2,913 12,173 17.70 14.82
Jul28 16.83 -0.11 ▼ 16.93 17.04 16.75 16.83 1,711 11,455 17.26 14.74
Oct28 16.80 -0.06 ▼ 16.87 16.96 16.72 16.80 943 9,587 17.26 15.01
Mar29 17.12 -0.03 ▼ 17.15 17.18 17.06 17.06 71 1,530 17.68 16.20
May29 16.55 0.02 ▲ 16.53 16.53 16.53 16.53 1 228 17.28 16.02
Jul29 16.29 0.06 ▲ 16.23 16.23 16.23 16.23 1 651 17.13 16.23
Total 318,015 1,277,878
*Volume includes exchange for physicals.

ICE U.S. Sugar No.11 – Spreads
Date Spread Date Spread
Oct26 / Mar27 -1.02 Jul27 / Oct27 -0.03
Oct26 / May27 -0.55 Jul27 / Mar28 -0.37
Oct26 / Jul27 -0.19 Oct27 / Mar28 -0.34
Oct26 / Oct27 -0.22 Oct27 / May28 0.49
Mar27 / May27 0.47 Mar28 / May28 0.83
Mar27 / Jul27 0.83 Mar28 / Jul28 1.29
May27 / Jul27 0.36 May28 / Jul28 0.46
May27 / Oct27 0.33 May28 / Oct28 0.49

ICE Europe White Sugar Futures Contract
Settlement (US$/mt) Open High Low Last Volume O/I Life High Life Low
Oct26 514.40 -9.90 ▼ 528.70 538.50 508.80 516.10 23,092 58,115 566.80 391.10
Dec26 520.30 -8.50 ▼ 533.00 539.90 517.20 522.60 22,116 61,238 554.70 393.20
Mar27 523.00 -9.80 ▼ 535.10 542.40 520.50 525.00 9,231 39,946 550.60 398.00
May27 523.30 -8.90 ▼ 536.20 540.50 521.10 524.50 4,353 16,796 545.00 401.40
Aug27 516.20 -8.70 ▼ 527.10 531.60 514.10 517.30 1,660 7,199 532.40 404.30
Oct27 510.30 -7.90 ▼ 521.20 523.30 508.20 511.80 738 4,174 523.30 408.20
Dec27 507.20 -7.90 ▼ 517.30 518.60 505.30 509.60 272 1,633 519.80 414.30
Mar28 506.40 -7.70 ▼ 504.40 504.40 504.40 504.40 27 906 517.90 421.00
May28 500.60 0.10 ▲ 503.70 503.90 501.00 502.00 130 670 511.20 426.30
Aug28 491.80 1.20 ▲ 494.30 494.70 492.40 493.80 93 606 498.60 431.10
Oct28 485.50 -5.70 ▼ 491.10 491.10 491.10 491.10 4 19 491.10 441.70
Dec28 483.50 -7.30 ▼ 490.40 490.40 490.40 490.40 1 6 490.40 468.60
Mar29 482.50 -11.40 ▼ 494.00 494.00 494.00 494.00 1 1 494.00 483.20
May29 483.00 -11.90 ▼ 495.50 495.50 495.50 495.50 1 1 495.50 483.90
Total 61,719 191,310
*Volume includes exchange for physicals.

ICE Europe White Sugar – Spreads
Date Spread Date Spread
Oct26 / Dec26 -5.90 Dec26 / Mar27 -2.70
Oct26 / Mar27 -8.60 Mar27 / May27 -0.30
Oct26 / May27 -8.90 May27 / Aug27 7.10
Oct26 / Aug27 -1.80 Aug27 / Oct27 5.90

White Sugar Premium
Date Premium Date Premium
Oct26 / Oct26 127.27 May28 / May28 119.42
Mar27 / Mar27 113.38 Jul28 / Aug28 120.76
May27 / May27 124.04 Oct28 / Oct28 115.12
Jul27 / Aug27 124.88 Mar29 / Mar29 105.07
Oct27 / Oct27 118.32 May29 / May29 118.14
Mar28 / Mar28 106.92
*Values calculated basis 6:10 PM.

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Jon Whybrow

Jon joined CZ in 1991, working in the Treasury department before moving to join the derivatives team in 1994. Over 30 years Jon has built up significant experience across derivatives markets and products, particularly sugar, and is now Head of Flow derivatives providing market execution services for CZ’s global client base. He is responsible for the market commentaries which are published each day on CZ app.

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