Daily Market Price Updates and Commentary 4th September 2025

Raw Suga Update

The market continued exactly where it left off last night with the opening stages spent sitting just above 16.00, though it was not long before the specs started to apply pressure again. There was sufficient selling volume to work a little further into the underlying scale buying and register lows at 15.98 across the next couple of hours and the mood was such that we were not seeing any interest in covering shorts and taking the market away from the 16.00 area. The rate of selling increased at the end of the morning and sent Oct’25 through the scale buying and technical support in the lower 15.90’s to reach 15.89 and set the tone for continuation selling from the US. This duly arrived; however its initial impact had been limited, and it was not until the final couple of hours that we saw more aggressive selling which sent the price down through 15.70. Alongside this fall there was a small decline in the Oct’25/March’26 spread to -0.66 points, where interest is building from both sides as next weeks index roll draws nearer. The market continued at the lower end heading towards the call and ended just 3 points above the lows at 15.69. With the specs/funds in determined mood the early July lows at 15.44 will be in their sights, though better physical interest would be anticipated should we continue towards 15c.  

White Sugar Update

Dec’25 started the day with an immediate drop to the $465.00 area, setting the tone for the market to retreat even further from Mondays highs. Volume was steady through the morning as efforts to stabilize met with limited backing and so slowly but surely the market edged its way down further into the low $460’s with assorted scale down pricing orders being filled along the way. The price had reached $461.70 by early afternoon, and it was only then that there was a small recovery, taking place with some assistance from the spot Oct’25 where spread buying was once more driving the situation. Oct/Dec’25 made highs at $20.70 before easing back to the high teens, and this marked the opportunity for shorts to place Dec’25 back under pressure and send outright values down to new daily lows. These were registered at $461.20 with the market continuing near to this level throughout the final stages, a stark contrast to what was seen just a few days ago as traders follow the more aggressive movement of No.11. White premium values were steady despite the decline, while at the top of the board Oct/Oct’25 made gains as the spread influence moved the Oct/Oct’25 back up to $136.30 as Oct’25 ended the day at $482.20.. Dec’25 settled at $462.30, just a dollar above the lows and brining support in the mid $450’s back into view.