Daily Market Price Updates and Commentary 6th May 2025

Raw Sugar Updates

Having mounted a solid recovery during yesterdays shortened session the market was trading with a little more freedom and saw an unchanged opening on low volume with specs showing less interest in proceedings. The calm opening period was broken by a sharp rally to 17.5 on only around 1.500 lots, and that the market then stalled was more a reflection of the unwillingness of most specs/funds to close out shorts at the present time as selling still lacks. The next few hours proved to be quiet until the calm was broken by a burst of selling / day trader liquidation that sent the price tumbling back through the range to a session low 17.39. Still last week’s low mark remained some distance away and the lack of resting orders allowed the market to move freely within the range through the afternoon without at any stage appearing likely to break out. Moderate activity for Jul/Oct’25 and Oct’25/March’26 prevented volumes from presenting too lowly though both traded within tight bands as an otherwise quiet day saw the spot valued to the centre of its range approaching the close. Some late selling arrived to slam Jul’25 back to 17.40 on the call and register a marginally lower settlement at 17.44, ending a neutral day which goes a small way towards cementing yesterday’s recovery.

White Sugar Updates

Returning from the holiday weekend there had been a change of direction for No.11, and this was reflected in a higher opening which saw the market gap on the intra-day charts and reach $498.90 (+$9.20) for Aug’25. Foe a period the value fell back to the mid $490’s however it was soon looking to build again with the gains releasing some of the recent shackles and enabling the price to work above $500 and register a mid-morning high at $502.00. Though these represented solid gains it still left the Aug/Julk’25 white premium lagging against Fridays value wit trades being seen either side of $110.00, something which endured as the flat price retreated into the range ahead of the Americas morning. There was another dip during the early afternoon which sent the market quickly back to $492.30 but it was soon rebuffed to leave the market once more holding onto a solid gain within the range. Spread volume was paltry as Aug/Oct’25 moved a touch lower, with only the spot Aug’25 contract showing any semblance of moderate activity as smaller traders and specs dominated. MOC selling appeared to leave Aug’25 closing towards the lower end of its range at $493.80 and still within proximity of the underlying double bottom support at $488.10/$487.70.