Daily Market Price Updates and Commentary 4th June 2025

Raw Sugar Update

The market clawed its way up through the 16.90’s following an inauspicious opening with traders looking to try and build upon yesterday afternoons recovery and pull the market away from its current malaise. Initial attempts faded but later in the morning there was another push that helped Jul’25 up 17.09 though progress then stalled as the ongoing low volumes once more made for a false move. For the next few hours prices swung either side of 17.00 against small trader and algo interest, and it was the Jul/Oct’25 spread which provided the greatest share of the volume as pre-expiry rolling continues to grow. The flat price saw change midway through the afternoon as smaller traders decided that the path of least resistance remains the downside and pushed sharply to send Jul’25 back into the 16.70’s. Its never really recovered from this shove and despite some brief position covering slipped again to generate additional daily lows across the final two hours, reaching 16.73 on the call. This contributed to a low settlement value to 16.75 which heaps additional pressure of the technical picture, and backed by a weaker close for Jul/Oct’25 at -0.28 points a return to support testing appears likely. 

White Sugar Update

It was a tentative start to trading which saw Aug’25 trading a band either side of last nights $473.70 closing value through the first hour as traders held back from showing their cards. A mid-morning nudge up to $478.00 saw provided the first effort to generate movement however its faded very quickly, the appetite to revers recent losses still proving to be small against the backdrop of chart weakness. For the next few hours volume remained light, and prices stagnated within the range, only moving during the later part of the session when traders turned back to the short side once more. Across the last couple of hours Aug’25 was steadily sold down to $467.80 with the recent lows remaining untouched, though with a settlement being recorded just above at $468.10 it seems that more downside testing will follow. Spreads and white premiums followed this trend with Aug/Oct’25 closing at $2.10 and Aug/Jul’25 valued back down to $98.80 and for the time being it remains difficult to find a reason for the market to escape its negative leaning.