Daily Market Price Updates and Commentary 25th April 2025

Raw Sugar Updates

The pattern of this week’s trading maintained through the early part of the session with July’25 initial rooted in the 17.80’s and still showing no sign of any noteworthy movement. Across the rest of the morning there was some range extension up into the mid 17.90’s but still the environment remained thin and uninspiring. In fact, it took until mid-afternoon for anything of interest to occur with the continuing rangebound drift finally broken as some fresh buying appeared to push prices back above 18.00 as traders tried to engineer a positive conclusion to the week. The movement led Jul’25 to a new weekly high at 18.11 while also pulling Jul/Oct’25 up to -0.10 points, though progress was not completely straightforward as scale pricing orders across 2025 positions provided some resistance. Having worked hard to forge the opportunity there was a drive from some specs to continue higher through the later stages and their efforts enabled Jul’25 to record a high at 18.20 on the close, its highest level in more than 2 weeks. Settlement was recorded at 18.18 to provide a positive aspect to the chart and some hope that we may see more interesting trading next week alongside Wednesdays May’25 expiry. 

White Sugar Updates

Initial lower trades were soon reversed, and the market was able to make mild gains through the morning within the boundaries of this week’s range, though at the upper levels some light pricing was sufficient to act as a buffer and limit Aug’25 to a morning high of $507.80. Some longs proceeded to liquidate into the early afternoon when the Americas day failed to draw any fresh interest and as the middle of the afternoon arrived it seems that we would end the week on a very slow session. This situation changed with the arrival of some new spec buying that shot the price up through the morning high and drew in additional support from which the market could break beyond Wednesdays highs at the second attempt and into some slightly clearer ground. Progress remained steady through the later part of the afternoon, helping the Aug/Jul’25 white premium up to $112.50 and Aug/Oct’25 to $10.00 in the process as the flat price reached $511.00 to the delight of the spec longs. From here they were able to gain additional ground through the final 30 minutes by taking the market to a close at $514.00, just $0.70c beneath the daily high, and leaving both the spread and arb heading out at their daily highs of $10.50 and $113.50. While by no means dynamic yet on the chart, this performance provides a basis from which the market has potential to continue upward on Monday should the buyers wish to continue driving.