Daily Market Price Updates and Commentary 7th October 2025

Raw Sugar Update 

Modest opening losses were gathered up comfortably, laying down the foundations to continue yesterday’s efforts and probe higher again. Before long March’26 had moved ahead to touch 16.88 (its highest level since 2nd September)and seemed well set to try and approach 17c when the picture changed dramatically. A push back down to overnight levels triggered a 3,000 lot sell stop which sent the price all the way back to 16.51 in an instant to change the market dynamic entirely. Others moved to close longs in the wake of this and the fall extended to 16.39 soon afterwards, only then was there a pause in the selling that allowed traders the opportunity to assess the situation. There was still some small trader activity on the way to levelling out in the 16.50’s, an area where both sides seemed content for the market to hold. The afternoon proved to be generally quiet with a narrow band holding, and as the price edged back into the mid 16.40’s ahead of the final hour so it appeared that we would see an uneventful close at the bottom end of the range. Instead, there was once more surprise to come with a late push back up and a close at 16.63 which reduced the losses, and while parameters are unchanged the close leaves things more positive than had seemed likely. 

White Sugar Update 

It was a mixed start for Dec’25 with initial losses slowly being recovered across the first hour but the spot still feeling a little heavy with spread values continuing to come under pressure. A dramatic fall then took place in reaction to stop loss selling in the No.11 market and the spot fell all the way to $455.70 on low volume before gathering a reaction from buyers and returning to the $460.00 area. This period created some opportunity for those involved in the white premiums as the movement caused values to swing around significantly and allowed values to gain temporarily before subsequently giving back the ground. Moving into the afternoon there was no reaction from specs to generate movement to either direction and on slower interest the price slowly slipped away. The front month spread pressure was playing its part in the grind lower with Dec’25/March’26 falling to -$1.00 and then remaining at a small discount through to the close. This remained the case despite some end of day short covering which took Dec’25 away from the lows to settle at $458.00 to leave the market still firmly rooted in a broad $450/$470 band.