Insight Focus
Both raw sugar futures and refined sugar futures continued trading lower over the past week. Commercial participants and speculators have closed out both their long and short positions.
New York No.11 Raw Sugar Futures
The raw sugar futures continue trading lower between 18-19c/lb.
Both the commercial participants and speculators have taken similar action over the past week by closing out their positions.
On the commercial side, producers and consumers have reduced their positions by 58.3k lots of shorts and 18.8k lots of longs respectively.
No.11 Commitment of Traders Report (4 March 2025)
Speculators have closed out 32.5k lots of long positions and 6.7k lots of short positions. The net-short position now stands at -79.1k lots.
The No. 11 forward curve has weakened slightly from May’26 onwards.
London No.5 Refined Sugar Futures
The no.5 refined sugar futures continued trading lower over the past week, trading between USD 516.9-524.9/tonne.
No.5 Open Interest
The No.5 refined sugar futures curve has flattened across the board.
White Premium (Arbitrage)
The K/K white premium traded between USD 119-123/tonne over the past week.
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
