In a reduced liquidity session without the No.5 trading due to holiday in London, no.11 opened at 17.70 and initially traded lower, slipping to the session low of 17.58 early in the morning before support emerged and prompted a swift recovery with buying interest strengthening enough to lift prices to the day’s high of 17.90 during the morning. After reaching that peak, momentum faded and the contract entered a broad consolidation phase, oscillating around the upper half of the day’s range without establishing a clear directional move. Through midday, prices softened gradually, and a sharper bout of selling by 4pm pressuring the market back toward the lower end of the range. That setback proved temporary, however, with values quickly recovering, possibly supported by fresh buying interest or some potential short-covering. The final hours were characterised by relatively stable session, with prices holding comfortably above the opening level and settling 17.81, 25 points up from previous sessoin.
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
52,586
566.80
391.10
Dec26
520.30
-8.50
▼
533.00
539.90
517.20
522.60
22,116
61,812
554.70
393.20
Mar27
523.00
-9.80
▼
535.10
542.40
520.50
525.00
9,231
39,312
550.60
398.00
May27
523.30
-8.90
▼
536.20
540.50
521.10
524.50
4,353
17,447
545.00
401.40
Aug27
516.20
-8.70
▼
527.10
531.60
514.10
517.30
1,660
7,516
532.40
404.30
Oct27
510.30
-7.90
▼
521.20
523.30
508.20
511.80
738
4,128
523.30
408.20
Dec27
507.20
-7.90
▼
517.30
518.60
505.30
509.60
272
1,715
519.80
414.30
Mar28
506.40
-7.70
▼
504.40
504.40
504.40
504.40
27
900
517.90
421.00
May28
500.60
0.10
▲
503.70
503.90
501.00
502.00
130
674
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
186,723
*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
121.76
May28 / May28
114.35
Mar27 / Mar27
107.87
Jul28 / Aug28
114.81
May27 / May27
119.19
Oct28 / Oct28
108.95
Jul27 / Aug27
120.03
Mar29 / Mar29
98.68
Oct27 / Oct27
113.91
May29 / May29
111.08
Mar28 / Mar28
102.95
*Values calculated basis 6:08 PM.
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.
