Daily Market Price Updates and Commentary 6th June 2025

Raw Sugar Update

The market slipped back slightly on the opening however there was little to get excited about as another relatively slow morning played out. Support was being seen just ahead of yesterday’s lowest level and with most continuing to treat the current market with degrees of disdain activity was confined to an increasingly tight band in the 16.50’s. This picture continued until the early afternoon when some fresh selling pushed through some more of the scale buying to widen the range into the low 16.40’s, though by now the flat price was taking a back eat to the Jul/Oct’25 spread as the index roll moved into focus. Volumes were sizable but it was the selling which increasingly dominated the movement with morning gains to -0.28 points erased and the spread moving into net deficit for the day. Another aggressive spec led push down to 16.32 only added to the pressure and despite a short covering fed recovery that reversed most of the loss the spread factor weighed on the market and prevented the spot from moving back to credit. Amidst a mixed bag of activity across the closing stages Jul’25 settled at 16.49, heading into the weekend with traders keen to discover how much more the funds and specs have sold when the COT is published later tonight. Jul/Oct’25 ended its afternoon of index led selling at -0.37 points, with plenty more to follow over the coming days.

White Sugar Update

In keeping with the current picture there was selling from the start which sent Aug’25 immediately down to $461.30 though some light buying then emerged to stabilize the market ahead of these lows. The rest of the morning followed the familiar script of sideways trading, this time centred around $463.00, though the lack of any more recovery illustrated the continuing struggle and left traders anticipating more selling to follow. This did not happen in the expected early afternoon slot and there was a brief rally to $465.20 instead, though it soon became apparent that this was a blip as prices then fell back to trade towards the morning low again. The wobble continued later in the afternoon with another nudge downward to $460.00 however the losses ended there as short covering pulled the market back into the range once again. This set in motion an unexpected turn of events as the final hour drew additional buying / position covering and took nearby values into a moderate credit. This buying provided a shot in the arm to the white premium values as Aug/Jul’25 regained this weeks losses and worked to $102.00, while it was a similar story for the Aug/Oct’25 spread with the late spot month support leading to a settlement at $2.90. Aug’25 settled higher at $465.20 though the overall chart picture remains bleak with much work to do to reverse the situation.