Daily Market Price Updates and Commentary 2nd October 2026

There was immediate buying for March’27 this morning as traders looked to punch through recent resistance above 19.00, and their efforts quickly yielded success as the price moved into the 19.20’s. Progress then slowed however the intent remained and by later morning we had extended to 19.37 to give a strong platform from which US specs/funds could potentially continue. For a while it seemed that there would not be ay such input, but by the middle of the afternoon things began to hot up and new ground was being explored. There remained selling interest prom growers looking to average up their pricing, but not in the quantities needed to slow things down as funds added more buying and built the momentum. By late afternoon this had taken March’26 up into the 19.90’s and show a full cent daily gain, with a high recorded at 19.96 on the closing call. Such was the scale of the buying that the nearby spreads strengthened significantly with March/May’27 up to 0.76 points and March/Jul’27 to 1.25 points, while gains against the forwards were even larger. Settlement arrived at 19.93, a daily gain of 0.99 points and significantly for the chart placing the market above the September highs.    

Dec’26 quickly jumped to $517.30 in reaction to stronger No.11 values, and this provided the platform to finally make a break from the recent trading band. Smaller traders were keen to use the opportunity and build prices further and a morning high at $521.50 was achieved before profit taking kicked in and sent us back to opening levels. This came despite continuing No.11 strength and so the March/March’27 white premium value narrowed back to $99.00 and created an element of doubt. Into the early afternoon the market was struggling to break away from the lows, but eventually it did and once it was on the move the specs returned to buy with more freedom helping the premium to recover in the process. Scale selling from growers was filled as the price accelerated up through $530, but with the quantities on offer only of moderate size the volume proved light in consideration of the scale of movement. Consolidation through the later part of the day meant that there was the opportunity to head into London Sugar week on a firm note, and the longs did not disappoint as they pushed the price to a high at $532.60 late on. Dec’26 settled at $531.50, though the Dec’26/March’27 spread did not benefit and ended the day little changed at -$13.90.