The Market in June
Nearby raw sugar futures spent most of June under pressure, trading between 13.3-14.5 cents/lb, but rose towards the upper end of this range in the last few days of the month. The average ISA Daily Raw Sugar Price for June fell to 13.9 cents/lb, a USD0.85 cents/lb, or 6%, decline from the previous month.
Weak demand for raw sugar was an important factor behind the lower prices witnessed over much of the last month. With Brazil’s harvest now in full flow and the July futures contract expiring at the end of June, prices fell to attract demand for the sugar available for delivery.