Daily Market Price Updates and Commentary 9th May 2025

Raw Sugar Updates

The day started calmly with early trading seeing Jul’25 move either side of unchanged, the low volume environment enabling some stabilization following yesterday’s recovery. Through the morning very little happened and Jul’25 continued in the 17.40’s and 17.50’s, and it was only the arrival of those in the Americas that brought some life to proceedings. It was the specs again leading the way as new daily highs drew additional buying and led the way up to 17.90, representing an impressive turnaround to the midweek activity with some strength that belies many views as to the fundamental balance sheet. Having attained these gains there was a keenness amongst buyers to maintain the movement and this led to the market holding the upper part of the range, though efforts to continue the movement were unsuccessful as the 17.90 high was matched on a few occasions. There was a lull in proceedings after these failed efforts with the market retreating from the highs, and though one final effort was made to push the market during the final hour this too ended at 17.90. Pre-weekend position liquidation sent the market back a touch on the close to make settlement at 17.78, still a solid gain and one which provides some stability to the current range at least after a rollercoaster week.

White Sugar Updates

Though the market opened slightly higher it soon developed into a slow morning of sideways trading with Aug’25 caught a couple of dollars either side of last nights closing level on low volume. It was only during the early afternoon that some interest developed through fresh buying which arrived to build upon yesterdays recovery and take the market up higher still. The push through $500.00 came at a good speed with very little selling around to hinder movement, and while progress then slowed down against profit taking and the start of some pricing interest it was not the end of the recovery. Additional efforts worked through some of the selling and saw a $504.30 high recorded midway through the afternoon before another round of day trader liquidation brought the $500 area back under scrutiny. Having eased back the market struggled to move to far from this area through the final couple of hours, the unwillingness to push back up impacting white premium values and sending Aug/Jul’25 towards $107.00. Though the flat price remained positive the Aug’25 spreads were contracting, a worrying sign for any bulls as Aug/Oct’25 ended the week at $7.70. Aug’25 meanwhile settled at $499.90, marking a solid recovery from the midweek lows but still not providing convincing evidence that this may lead to longer term gains.