Insight Focus
The raw sugar futures continued trading lower last week. End-users have added heavily to their cover. The May’25 refined sugar futures expired last week.
New York No.11 Raw Sugar Futures
The raw sugar futures continued trading lower over the past week between 17.5-18c/lb, closing at 17.8c/lb on Friday.
End-users have continued taking advantage of the lower price movement by adding heavily to their positions by 20.8k lots of longs. Producers on the other hand have reduced their position by just under 150 lots of short positions.
No.11 Commitment of Traders Report (April 15, 2025)
Speculators have closed out 4.1k lots of long positions and have further opened 2.4k lots of short positions. The net-short position now stands at -45.7k lots.
No.11 Open interest
The No. 11 forward curve has strengthened between May’25 to May’27.
London No.5 Refined Sugar Futures
The May’25 refined sugar expired last week, settling at USD 513.1/tonne. The refined sugar futures are currently hovering around USD 496/tonne.
No.5 Open Interest
The No.5 refined sugar futures curve has strengthened across majority of the board.
White Premium (Arbitrage)
The K/K white premium settled at USD 126.9/tonne on Tuesday’s expiry. The Q/N white premium is currently trading at USD 107.8/tonne.
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
