Jon Whybrow

Head of Flow Derivatives

Jon joined CZ in 1991, working in the Treasury department before moving to join the derivatives team in 1994. Over 30 years Jon has built up significant experience across derivatives markets and products, particularly sugar, and is now Head of Flow derivatives providing market execution services for CZ’s global client base. He is responsible for the market commentaries which are published each day on CZ app.

Insight
  • November 17, 2025

Daily Market Price Updates and Commentary 17th November 2025

Raw Sugar Update  A wide opening swing between 14.94/14.76 was a ...

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  • October 16, 2025

Daily Market Price Updates and Commentary 16th October 2025

Raw Sugar Update There was some light buying around during the early p...

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  • June 16, 2025

Daily Market Price Updates and Commentary 16th June 2025

Raw Sugar Update The new week got underway calmly as the market dusted...

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  • February 18, 2025

Daily Market Price Updates and Commentary 18th February 2025

Today’s session opened at 20.50 cents/lb, with an initial wave o...

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  • February 6, 2025

Daily Market Price Updates and Commentary 6th February 2025

Early trading was calm with prints a few points either side of overnig...

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  • April 25, 2024

Daily Market Price Updates and Commentary 25th April 2024

The market picked up where it left off as last night’s late decl...

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  • April 24, 2024

Daily Market Price Updates and Commentary 24th April 2024

Opening selling sent Jul’24 down to 19.51 however it was not lon...

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  • April 23, 2024

Daily Market Price Updates and Commentary 23rd April 2024

An unchanged opening soon gathered a little buying interest, allowing ...

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  • April 22, 2024

Daily Market Price Updates and Commentary 22nd April 2024

 There was a leap upward as the week got underway with Jul’...

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  • April 19, 2024

Daily Market Price Updates and Commentary 19th April 2024

July’24 opened higher, creating a gap for the intra-day charts, ...

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  • April 18, 2024

Daily Market Price Updates and Commentary 18th April 2024

 A wild opening saw Jul’24 printing between 19.57 and 19.21...

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  • April 17, 2024

Daily Market Price Updates and Commentary 17th April 2024

 A softer opening was initially gathered up and Jul’24 brie...

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  • April 16, 2024

Daily Market Price Updates and Commentary 16th April 2024

The market immediately moved lower to test and break the 19.68 support...

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  • April 15, 2024

Daily Market Price Updates and Commentary 15th april 2024

 Last weeks collapse has left the market probing at support level...

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  • April 10, 2024

Daily Market Price Updates and Commentary 10th April 2024

The lower levels had clearly drawn out some physical activity, which i...

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  • April 9, 2024

Daily Market Price Updates and Commentary 9th April 2024

The “bullish” bubble has well and truly burst for the spec...

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  • April 8, 2024

Daily Market Price Updates and Commentary 8th April 2024

 Early trading saw May’24 dropping back towards Fridays low...

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  • April 5, 2024

Daily Market Price Updates and Commentary 5th April 2024

Another morning of mixed trading saw May’24 work between 22.18 a...

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  • April 4, 2024

Daily Market Price Updates and Commentary 4th April2024

A mixed opening period provided the prelude to a morning rally which s...

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  • April 3, 2024

Daily Market Price Updates and Commentary 3rd April 2024

 Initial weakness was gathered up, and while there was little phy...

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  • April 2, 2024

Daily Market Price Updates and Commentary 2nd April 2024

 There were small losses showing during early trading however the...

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  • April 1, 2024

Daily Market Price Updates and Commentary 1st April 2024

Today, May ’24, opened at 22.65, marking a 13-point increase fro...

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  • March 28, 2024

Daily Market Price Updates and Commentary 28th Marh 2024

 Early gains were soon erased with a sharp push back to 22.06, ho...

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  • March 27, 2024

Daily Market Price Updates and Commentary 27th March 2024

Yesterday’s session provided the most technical strength for May...

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  • March 26, 2024

Daily Market Price Updates and Commentary 26th March 2024

The session began positively with the latest nudge up through 22c agai...

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  • March 25, 2024

Daily Market Price Updates and Commentary 25th March 2024

 A marginally lower start for May’24 was soon gathered up a...

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  • March 22, 2024

Daily Market Price Updates and Commentary 22nd March 2024

 Despite settling above 22c last night there was no continuation ...

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  • March 21, 2024

Daily Market Price Updates and Commentary 21st March 2024

 A jump to 21.99 on the opening i8mmediately showed the intent of...

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  • March 20, 2024

Daily Market Price Updates and Commentary 20th March 2024

Following yesterday’s unconvincing showing the market found imme...

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  • March 19, 2024

Daily Market Price Updates and Commentary 19th March 2024

The early part of the session saw May’24 attempting to hold near...

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  • March 18, 2024

Daily Market Price Updates and Commentary 18th March 2024

A higher opening saw May’24 trading up to 22.31, however activit...

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  • March 15, 2024

Daily Market Price Updates and Commentary 15th March 2024

   It was a slow start to the day with May’24 holding ...

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  • March 14, 2024

Daily Market Price Updates and Commentary 14th March 2024

There was a positive feel about the market during the first hour as sp...

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  • March 13, 2024

Daily Market Price Updates and Commentary 13th March 2024

There was some early buying as traders continue to probe from the long...

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  • March 12, 2024

Daily Market Price Updates and Commentary 12th March 2024

Some light early losses were recorded as grower pricing arrived in rea...

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  • March 11, 2024

Daily Market Price Updates and Commentary 11th March 2024

Having opened either side of unchanged the market quickly found some l...

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  • March 8, 2024

Daily Market Price Updates and Commentary 8th March 2024

Commencing the day either side of unchanged the market was showing lit...

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  • March 7, 2024

Daily Market Price Updates and Commentary 7th March 2024

 A sharp opening drop to 21.19 for May’24 was initially gat...

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  • March 6, 2024

Daily Market Price Updates and Commentary 6th March 2024

May’24 dropped back to 20.72 on the opening though there was sup...

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  • March 5, 2024

Daily Market Price Updates and Commentary 5th March 2024

Then recent series of downward days has left the market vulnerable to ...

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  • March 4, 2024

Daily Market Price Updates and Commentary 4th March 2024

The minutes saw May’24 holding a point above Fridays lows before...

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  • March 1, 2024

Daily Market Price Updates and Commentary 1st March 2024

There was some overnight buying interest, and this served to push pric...

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  • February 29, 2024

Daily Market Price Updates and Commentary 29th February 2024

 Higher opening prints were short-lived with May’24 immedia...

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  • February 28, 2024

Daily Market Price Updates and Commentary 28th February 2024

Resuming after last night’s eventful closing period there was a ...

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  • February 27, 2024

Daily Market Price Updates and Commentary 27th February 2024

The market began the day a little firmer and though the May’24 c...

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  • February 26, 2024

Daily Market Price Updates and Commentary 26th February 2024

Following a week of quiet retreat the market started negatively once a...

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  • February 21, 2024

Daily Market Price Updates and Commentary 21st February 2023

Today No.11 opened at a big gap with lot of volatility during the 5 fi...

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  • February 19, 2024

Daily Market Price Updates and Commentary 19th February 2024

Today K4 opened at $639, up $0.7 from Friday’s settlement. Today...

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  • February 16, 2024

Daily Market Price Updates and Commentary 16th February 2024

Today, in Mar’24, the market opened at 22.85, which was 3 points...

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  • February 15, 2024

Daily Market Price Updates and Commentary 15th February 2024

An unchanged opening proved difficult to sustain and it was not long b...

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  • February 14, 2024

Daily Market Price Updates and Commentary 14th February 2024

A first print at unchanged quickly gave way as selling swamped the mar...

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  • February 13, 2024

Daily Market Price Updates and Commentary 13th February 2024

 It was another weak start for May’24 as early trading saw ...

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  • February 12, 2024

Daily Market Price Updates and Commentary 12th February 2024

 As the index roll moves towards its end and with daily activitie...

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  • February 9, 2024

Daily Market Price Updates and Commentary 9th February 2024

Undeterred by recent failures to sustain above 24c the market was inst...

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  • February 7, 2024

Daily Market Price Updates and Commentary 7th February 2024

 The day began with the market on the front foot with light openi...

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  • February 6, 2024

Daily Market Price Updates and Commentary 6th February 2024

 It was a calm but steady showing from the market this morning as...

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  • February 5, 2024

Daily Market Price Updates and Commentary 5th February 2024

 Higher initial trades saw March’24 print up to 23.99 howev...

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  • February 2, 2024

Daily Market Price Updates and Commentary 2nd February 2024

The market was lacklustre during the first part of the morning with pr...

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  • February 1, 2024

Daily Market Price Updates and Commentary 1st February 2024

Having pulled itself back up above 24.00 the March’24 contract w...

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  • January 31, 2024

Daily Market Price Updates and Commentary 31st January 2024

An opening either side of unchanged provided a steady base from which ...

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  • January 30, 2024

Daily Market Price Updates and Commentary 30th January 2024

March’24 was pushed down to 23.29 on the opening as traders cont...

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  • January 29, 2024

Daily Market Price Updates and Commentary 29th January 2024

 March’24 built upon an unchanged opening to print a little...

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  • January 26, 2024

Daily Market Price Updates and Commentary 26th January 2024

 The market was under a modicum of pressure during the early stag...

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  • January 25, 2024

Daily Market Price Updates and Commentary 25th January 2024

The session began calmly with March’24 trading either side of ov...

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  • January 24, 2024

Daily Market Price Updates and Commentary 24th January 2024

 A mixed opening period saw March’24 dip to 23.67 before re...

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  • January 23, 2024

Daily Market Price Updates and Commentary 23rd January 2024

There was selling around for the opening which led to lower values, an...

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  • January 22, 2024

Daily Market Price Updates and Commentary 22nd January 2024

A wild opening saw March’24 quickly swing between 23.64 and 23.4...

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  • January 19, 2024

Daily Market Price Updates and Commentary 19th January 2024

This week has seen fresh momentum found for sugar and with the specula...

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  • January 18, 2024

Daily Market Price Updates and Commentary 18th January 2024

 A subdued start to the session saw March’24 trading near t...

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  • January 17, 2024

Daily Market Price Updates and Commentary 17th January 2024

 It was a calmer start to proceedings today as in initial buying ...

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  • January 16, 2024

Daily Market Price Updates and Commentary 16th January 2024

Returning from the 3-day weekend the market was immediately indicated ...

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  • January 15, 2024

Daily Market Price Updates and Commentary 15th January 2024

Sugar No.11 market is closed today due to Martin Luther King Day holid...

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  • January 12, 2024

Daily Market Price Updates and Commentary 12th January 2024

There was early buying in the market and through the first hour we saw...

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  • January 11, 2024

Daily Market Price Updates and Commentary 11th January 2024

Having fallen back into the range yesterday the market was initially m...

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  • January 10, 2024

Daily Market Price Updates and Commentary 10th January 2024

The day began with a dip to 21.54, reflecting the activity of last nig...

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  • January 9, 2024

Daily Market Price Updates and Commentary 09th January 2024

There was a continuation of yesterday’s positive movement as we ...

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  • January 8, 2024

Daily Market Price Updates and Commentary 08th January 2024

Opening prints at unchanged led into an early rally with March’2...

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  • January 5, 2024

Daily Market Price Updates and Commentary 05th January 2024

It was a mixed start to today’s session with only the usual ligh...

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  • January 4, 2024

Daily Market Price Updates and Commentary 04th January 2024

The new year has seen the market take on a calmer approach within a ra...

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  • January 3, 2024

Daily Market Price Updates and Commentary 03rd January 2024

An unchanged opening felt appropriate following yesterday’s rath...

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  • January 2, 2024

Daily Market Price Updates and Commentary 02nd January 2024

The new year got underway with a price lift to 21.02 for the March&rsq...

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  • June 24, 2022

Daily Market Price Update and Commentary 24th June 2022

The macro was again showing a sea of red (albeit some of the losses we...

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  • November 19, 2021

Daily Market Price Update and Commentary 19th November 2021

Sugar #11 Mar ’22  The sharp drop from recent highs yesterd...

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  • August 27, 2021

Daily Market Price Update and Commentary 27th August 2021

Sugar #11 Oct’21 Today’s less-hawkish-than-expected comments f...

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  • November 25, 2020

Daily Market Price Update and Commentary 25th November 2020

Mar 21 – Sugar No.11  Early activity saw some light buying ...

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  • July 15, 2020

Daily Market Price Update and Commentary 15th July 2020

The negative conclusion to yesterday’s session was soon forgotten as...

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  • July 6, 2020

Daily Market Price Update and Commentary 6th July 2020

Resuming after the extended US holiday weekend the market was rather s...

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  • July 3, 2020

Daily Market Price Update and Commentary 3rd July 2020

ICE Europe White Sugar Futures Contract

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  • July 2, 2020

Daily Market Price Update and Commentary 2nd July 2020

• The market picked up where it left off with early trading seeing p...

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  • July 1, 2020

Daily Market Price Update and Commentary 1st July 2020

Last week’s woes are a distant memory as the market today continued ...

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  • June 30, 2020

Daily Market Price Update and Commentary 30th June 2020

• Yesterday afternoons resurgent performance had clearly laid the gr...

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  • June 29, 2020

Daily Market Price Update and Commentary 29th June 2020

A weak technical conclusion on Friday combined with the COT news that ...

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  • June 26, 2020

Daily Market Price Update and Commentary 26th June 2020

Initial stability proved to be short-lived as the market soon slipped ...

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  • June 25, 2020

Daily Market Price Update and Commentary 25th June 2020

Another incredibly slow morning saw the market repeat a now familiar p...

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  • January 8, 2020

Daily Futures Commentary – 08 January 2020

Today proved something of a news dominated session with US/Iranian ten...

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  • January 7, 2020

Daily Futures Commentary – 7th January 2020

A morning of quiet consolidation in the 13.70’s with an new recent h...

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  • January 6, 2020

Daily Futures Commentary 6th January 2020

The market was higher from the get-go this morning and never looked ba...

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  • December 13, 2019

Daily Futures Commentary 13th December 2019

There was immediate buying for the market today with March’20 quickl...

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  • December 12, 2019

Daily Futures Commentary 12th December 2019

A slow sideways morning was ended abruptly by some aggressive spec buy...

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  • December 11, 2019

Daily Futures Commentary 11th December 2019

We saw early stability to continue the recent upward theme, and on thi...

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  • December 10, 2019

Daily Futures Commentary 10 December 2019

The morning was spent within a tight range on low volumes, quietly con...

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  • December 9, 2019

Daily Futures Commentary 09 December 2019

The grind higher continues with the market once more working upward in...

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