Daily Market Price Updates and Commentary 9th June 2025

Raw Sugar Update

The new week got underway with Jul’25 trading unchanged at 16.49, however some light buying emerged and this allowed for a small recovery into the low 16.60’s soon afterwards. The market then levelled off and a low volume morning played out for the flat price with only the Jul/Oct’25 spread seeing meaningful interest against the continuing roll. There was a small nudge up to 16.70 during the early afternoon that failed to gather momentum, and the specs then kicked back into gear to sell the market down to fresh daily lows at 16.42 looking to benefit their exposures. The move ended abruptly with position covering then aiding the market to recover into the 16.50’s, and rather than stagnate the market somewhat surprisingly looked to the upside another time. Led by the whites we saw Jul’25 pull up to 16.75 before running out of steam as profits were taken, however prices moved back above 16.70 ahead of the close to ensure that we would see the day end positively. No further daily highs were recorded while a mixed call saw some defensive selling and limited the gain by a few points with Jul’25 settling at 16.67. Jul/Oct’25 saw another sizable roll volume which totaled over 65,000 lots and ended the day marginally up at -0.34 points. 

White Sugar Update

A mildly higher opening provided the backdrop for the market to try and stabilize and throughout a generally forgettable morning Aug’25 proceeded to consolidate in the upper $460’s. There was some widening of this trading band as we moved through the early afternoon as the market looked both higher and lower without any success, and it was not until the last couple of hours that the picture became more interesting. With limited selling overhead Aug’25 was able to gather a little more momentum and extend its gain up to $473.90, and in the process, there was much needed benefit added to the nearby spread and white premium values. Aug/Jul’25 was particularly firm as the value which has recently been rocking either ide of $100 pushed back to $105.00, and with Aug/Oct’25 back above $4.50 things were feeling slightly more positive for a change. Prices see-sawed a little during the final hour as some profit taking appeared ahead of closing buying, all of which resulted in an Aug’25 settlement level at $472.40 ahead of new daily highs at $474.30 on the post close. Aug/Jul’25 was valued at $104.90 heading out, and while todays move doesn’t materially change the wider technical picture it will provide an element of encouragement to those looking for a reversal that this market retains some life.