Futures prices for sugar showed gains on Friday afternoon (Oct 18) on both the New York and London exchanges. However, the rally that started stronger in the morning lost momentum throughout the day, leaving prices close to last Friday’s levels (Oct 11).
As of noon, the March 2025 contract on the New York Exchange was up by 0.12 cents, trading at 22.28 cents/lb. The May 2025 contract increased by 0.10 cents to 20.55 cents/lb, while July 2025 also rose by 0.10 cents to 19.60 cents/lb. Meanwhile, the October 2025 contract advanced by 0.13 cents, settling at 19.37 cents/lb.
On the London Exchange, the December 2024 contract rose by USD 1.10, reaching USD 566.80 per ton. The March 2025 contract increased by USD 2.60 to USD 575.60 per ton. Similarly, the May 2025 contract saw a gain of USD 2.00, priced at USD 567.00 per ton, and the August 2025 contract climbed by USD 1.20 to USD 549.00 per ton.
According to Barchart, the price increases were driven by a reduction in rainfall forecasts for Brazil. “Short covering emerged in sugar futures today after meteorologist Climatempo reduced the likelihood of widespread rainfall in Brazil’s Center-South region, the country’s largest sugar-producing area,” the international site reported.
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