Daily Market Price Updates and Commentary 2nd April 2025

Raw Market Update

May’25 Sugar opened the session quietly at 19.36 before dipping lower in the early hours, with little conviction behind the bids. Prices steadily slid through the morning, eventually touching a session low of 19.08 around lunchtime. While the move wasn’t dramatic in a broader context, it did mark the day’s softest point as the market paused to reassess direction. A modest recovery began shortly after, gathering pace through the early afternoon as speculative interest returned. The tone shifted into the US morning, with a steady grind higher that suggested light short-covering activity rather than fresh aggressive buying. By late session, values had pushed convincingly higher, breaking above the 19.50 mark and briefly peaking at 19.63. Trade flows remained measured, but the late strength carried May’25 to a close at 19.59 — its firmest settlement in recent sessions. While today’s price action brought the market back toward the top end of its current range, conviction still feels tentative, and traders may look for further cues as the week progresses. The move was encouraging, but not yet conclusive in setting a new directional tone.

White Market Update

No.5 opened at 546.60 and drifted steadily lower through the early session as selling interest persisted into mid-morning. A lack of support saw prices fall to a session low of 540.20 around midday, with trade flows remaining thin and directionless at that point. The market appeared to be following the broader tone of the complex rather than leading it. A slow grind higher began from early afternoon, with short-term technicals helping to turn sentiment modestly more constructive. By late afternoon, prices had recovered nearly 10 dollars from the day’s low, and late strength gathered pace on improved sentiment from the No.11 board. No.5 eventually extended gains toward the 555.00 area in the closing hour, brushing up against the session high before settling at 553.00. The recovery into the close helped mark a solid reversal from the morning’s tone and suggests short-term momentum may favour the upside heading into tomorrow’s open. The day’s range remained a bit above recent parameters, and follow-through may be required before fresh positioning is encouraged.