Daily Market Price Updates and Commentary 3rd April 2025

Raw sugar updates

No.11 opened at 19.34, with a 25-pts opening gap as a global selloff reaction to US tariffs implementation. May’25 struggled to maintain traction, with initial buying interest after opening quickly fading and leaving the contract to drift steadily lower over the early hours. Prices found resistance near 19.20c and the failure to push higher prompted steady liquidation through the mid-morning. This eventually took the market down to a low at 18.95c, with volume concentrated during the descent but offering little in the way of follow-through once support was reached. A small recovery followed as prices chopped sideways in the 19.10s, with small short covering attempts keeping the downside contained but failing to attract further buying. May’25 was able to claw back to 19.20s near close but settled at 19.11 (-48 pts). Spreads weakened through the whole board with KN closing at 0.14. May’25 volume traded was 59k lots.

White sugar updates

White Sugar No.5 May’25 opened at $550.0, -$2,9 from previous settlement amid global selloff after the US announcement of tariffs. The market then followed the broader tone seen across No.11, with consistent selling emerging to pressure values lower through much of the morning stabilizing near $544. More weakness followed, showing low print of $540.30. Some mild recovery emerged, though the rebound lacked conviction. Volume was minimal, and while the session ended with a small lift from lows, closing at $543.1, a reflex of more of an intra-day balancing than any new directional interest . White premium held steady with small gains, the market remains in wait-and-see mode, and May’25 continues to drift within the same well-established range.