Insight Focus

Speculators continued to build their No.11 long position, taking their net long position to 132.5k lots. Producers added a further 46.3k lots of shorts as prices remained above 18c/lb.


New York No.11 Raw Sugar Futures

No.11 raw sugar started the week at 17.8c/lb and settled at 18.1c/lb on Friday. Prices reached 18.7c/lb on Wednesday before falling back over the final two days of the week.

Speculators added 28k lots of longs and reduced their short position slightly in the latest reporting week. This increased their net long position by 28.5k lots.

No.11 Commitment of Traders Report (September 1, 2026)

The current speculative net long position stands at 132,496 lots.  

Producers added a further 46.3k lots of shorts as prices remained above 18c/lb. End-users added 6.7k lots of longs.

No.11 & No.5 Open interest

Open interest fell in the front No.11 and No.5 contracts but increased further along both curves. Futures prices also strengthened across both markets

White Premium (Arbitrage)

The V/V white premium started the week at around USD122/tonne and finished at USD125/tonne, after reaching USD129/tonne on Tuesday.

For a more detailed view of the sugar futures and market data, please refer to the appendix below.


No.11 (Raw Sugar) Appendix

No.5 (White Sugar) Appendix

White Premium Appendix

 

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Gerard Horner

Gerard joined CZ’s analysis team in 2023 as an intern before returning to university to complete his degree in Renewable Energy Engineering. He rejoined the team in June 2025 as an Analyst and has since contributed to a range of projects focused on forecasting the future of sugar consumption. With a background in sustainable systems and energy modelling, Gerard brings a fresh analytical perspective to the evolving dynamics of global sugar demand.

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