Insight Focus
The raw sugar futures traded above 16c/lb last week but have since fallen below this level. Both the No.11 and No.5 forward futures curves have declined. There’s no CFTC update this week, due to the US federal government shutdown.
New York No.11 Raw Sugar Futures
Raw sugar futures opened the week at a high of 16.8c/lb, then gradually declined within the 16.6–16.3c/lb range before closing the week at 16.1c/lb on Friday.
There is still no CFTC data release this week due to the US federal government shutdown.
No.11 Open interest
The No.11 forward curve has weakened across the entire board.
London No.5 Refined Sugar Futures
The No.5 refined sugar futures started the week at a high of USD 464.4/tonne, before moving lower from Tuesday onwards between USD 458/tonne and eventually settling at USD 450.4/tonne on Friday.
No.5 Open Interest
Like the No.11 forward curve, the No.5 forward curve has also declined across the board.
White Premium (Arbitrage)
The H/H white premium started the week at a high of USD 93.4/tonne, before dipping slightly to trade between USD 91.6–92/tonne for the rest of the week, eventually closing at USD 92.6/tonne on Friday.
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
