Current Sugar Market Report: ICE Sugar No. 5 Rebounds Slightly

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1. Market Developments (As of December 11, 2024)

ICE Sugar No. 5 futures showed moderate gains across all contracts on December 11, 2024. Closing prices in EUR (based on an exchange rate of 1 USD = 0.92 EUR) are as follows:

• March 2025: €497.54/t (+0.39%)
• May 2025: €497.54/t (+0.68%)
• August 2025: €486.40/t (+0.51%)
• October 2025: €478.03/t (+0.54%)
• December 2025: €476.01/t (+0.60%)

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2. Observations and Trends

• Small Rebound: The sugar futures market saw a slight recovery, with the most notable increases in mid-term contracts like May 2025 (+0.68%).
• Trading Activity: The March and May contracts continue to dominate trading volumes, with nearly 9,500 units traded in March 2025.
• Global Sentiment: The recovery suggests renewed buying interest, possibly driven by technical corrections or speculative positions.

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3. Developments in the EU Sugar Market

• Stabilizing Prices: EU sugar prices remain within the range of €0.50–€0.54/kg, showing resilience despite global market volatility.
• Outlook: While the global sugar market faces persistent challenges, the slight uptick signals cautious optimism among traders.

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4. Recommendations

• For Traders: Monitor near-term contracts like March and May 2025 for further potential recovery or volatility.
• For Producers: Use the slight rebound to reassess hedging strategies for the upcoming months.
• For Investors: Watch for broader trends to see if the market stabilizes or remains prone to fluctuations.

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The slight recovery in ICE Sugar No. 5 futures highlights the market's potential for resilience amid uncertainty. The coming days will reveal whether this upward trend sustains or if further corrections occur.