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2026-07-15 20:18:12
[Sugar Futures Plunge Across the Board, Near-Month Contracts Lead the Decline, Supply Expectations Pressure the Market] ⑴ ICE sugar futures fell across the board on Wednesday, with the near-month August contract experiencing the most significant decline, closing at $451.70 per tonne, down about 2.5%, having touched a low of $451.30 during the session, a spread of $14. ⑵ The most active October contract fell 0.4% to $460.50, while the December and March contracts fell between 0.6% and 0.7%. The longer-term contracts generally showed relative resilience, indicating that market concerns about near-term supply pressure are more concentrated. ⑶ Looking at the spread structure, the discount between the August and October contracts widened further, reflecting greater selling pressure on near-term contracts, while the decline in longer-term contracts was shallower, suggesting that the market expects the supply-demand imbalance to ease in subsequent months. (4) Overall positions and subsequent trading should pay attention to changes in the crushing progress and export pace of major producing countries. If no new disruptive factors emerge on the supply side, sugar futures may continue to be under pressure and consolidate in the short term.
