Raw Sugar Update 

Raw Sugar No.11 (SB) – ICE Futures US Softs
Month Open High Low Sett Chg Last Vol O/I
Oct’25 16.17 16.23 16.01 16.03 -0.12 16.05 76,989 345,119
Mar’26 16.78 16.83 16.62 16.65 -0.13 16.68 52,197 291,677
May’26 16.54 16.55 16.36 16.38 -0.14 16.40 12,673 113,180
Jul’26 16.46 16.47 16.29 16.31 -0.13 16.33 8,254 75,027
Oct’26 16.69 16.70 16.54 16.56 -0.11 16.58 3,832 49,312
Mar’27 17.16 17.16 17.03 17.06 -0.09 17.07 1,455 26,390
May’27 16.76 16.77 16.64 16.68 -0.08 16.68 644 13,613
Jul’27 16.58 16.60 16.47 16.52 -0.07 16.52 600 11,883
Oct’27 16.73 16.73 16.59 16.63 -0.07 16.63 281 9,983
Mar’28 17.12 17.12 17.03 17.04 -0.06 17.03 184 2,447
May’28 16.85 16.85 16.76 16.77 -0.05 16.76 94 1,067
                 
Total             157,203 939,698

 

White Sugar Update

White Sugar No.5 (QW) – ICE Futures Europe Commodities
Month Open High Low Sett Chg Last Vol O/I
Oct’25 491.00 494.50 483.70 484.40 -6.60 484.90 10,404 36,203
Dec’25 476.00 477.20 467.20 468.00 -8.10 468.20 10,141 56,440
Mar’26 468.60 469.70 462.60 463.20 -5.40 463.20 5,810 26,695
May’26 466.70 467.70 462.10 462.70 -4.00 462.10 1,947 8,865
Aug’26 464.30 465.10 461.10 461.60 -2.80 461.10 402 5,452
Oct’26 464.30 464.30 461.70 462.30 -2.00 461.90 212 3,044
Dec’26 466.70 466.70 465.00 465.40 -1.50 465.00 104 1,958
Mar’27 471.10 471.10 470.00 470.40 -0.70 470.00 69 988
May’27 472.80 472.90 472.50 472.80 -0.30 472.60 7 351
Aug’27 474.60 474.70 474.30 474.50 -0.10 474.40 16 264
Oct’27 476.00 476.50 475.80 476.10            –   475.80 23 303
Dec’27 478.00 478.00 478.00 478.90 0.90 478.00 19 67
Mar’28          –              –              –   481.10 1.70 –            –                –  
May’28          –              –              –   481.10 1.70 –            –                –  
Total             29,154 140,630

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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