Sugar Reverses as Dollar Firms and Brazil Rain Persists (14 October 2026)
Raw sugar failed to hold a move above its recent peak on Wednesday, while nearby whites continued to underperform later deliveries. New York March 2027 raw sugar settled at 20.84 cents/lb, down 0.27 cent, or 1.28%, after trading between 20.80 and 21.29. London December 2026 white sugar fell $7.00, or 1.25%, to $554.90/t, within a $553.80–565.00 range.
The raw contract exceeded the 7 October high of 21.24 cents before reversing to finish just 0.04 cent above its session low. It erased Tuesday’s gain and settled marginally below Monday’s 20.85 cents. December whites remained inside Tuesday’s trading range but also finished near the bottom of the session, only $1.10 above their low.
| Market | Wednesday volume | Change from Tuesday | Confirmed OI: 13 October | OI change vs 12 October |
|---|---|---|---|---|
| Raw sugar | 150,616 | +21.16% | 1,179,144 | +13,482 |
| White sugar | 36,646 | +6.58% | 160,792 | +2,166 |
Turnover increased in both markets, with raw volume expanding for a third consecutive session. The newly available Tuesday open-interest figures confirm that outstanding positions increased during Tuesday’s advance. Wednesday’s open interest remains unavailable, so the decline cannot yet be classified as liquidation or fresh position-building from these figures alone.
The raw March–May premium narrowed by 0.09 cent to 0.79 cent/lb as March lost more than May. In whites, December’s discount to March widened another $2.70 to $13.70/t. March whites fell $4.30 to $568.60/t, while May lost only $2.30 to $574.40/t.
The matched March white-over-raw futures premium nevertheless increased to $109.16/t from $107.50. This reflects the larger dollar-per-tonne decline in March raws; it does not signal a recovery in December whites. Both nearby calendar spreads weakened even as the matched March white premium improved.
