# Sugar price on Apr 17, 2026 at 5pm EDT?

Apr 17, 2026 at 5pm EDT

Updated: April 17, 2026

Category: Commodities

Tags: Agriculture

HTML: /markets/commodities/agriculture/sugar-price-on-apr-17-2026-at-5pm-edt/

## Short Answer

**Key takeaway.** Both the **model** and the **market** overwhelmingly agree that sugar prices will be above 13.39¢ on April 17, 2026, with only minor residual uncertainty.

## Key Claims (January 2026)

**- - India is unlikely to impose sugar export restrictions for 2025/26.** - Managed money positions in sugar futures are a key **market** driver.
- Mexico's 2025/26 sugar production increases may impact USMCA quotas.
- Major recurring reports will shape the 2025/26 global sugar supply outlook.
- Sugar **market** recently experienced significant upward price movement.

### Why This Matters (GEO)

- AI agents extract claims, not arguments.
- Improves citation probability in summaries and answer cards.
- Enables fact stitching across multiple sources.

## Executive Verdict

**Key takeaway.** **Model** aligns with 99c **market** price, despite Octagon's deep web research being unavailable.

### Who Wins and Why

| Outcome | Market | Model | Why |
| --- | --- | --- | --- |
| above 13.74¢ | 52.0% | 51.8% | Market higher by 0.2pp |
| above 13.79¢ | 21.0% | 21.8% | Model higher by 0.8pp |
| above 13.84¢ | 22.0% | 21.8% | Market higher by 0.2pp |

## Model vs Market

| Outcome | Market Probability | Octagon Model Probability |
| --- | --- | --- |
| above 13.74¢ | 52.0% | 51.8% |
| above 13.79¢ | 21.0% | 21.8% |
| above 13.84¢ | 22.0% | 21.8% |
| above 13.69¢ | 39.0% | 51.8% |
| above 13.64¢ | 80.0% | 79.9% |
| above 13.89¢ | 22.0% | 21.8% |
| above 13.54¢ | 96.0% | 96.0% |
| above 13.59¢ | 96.0% | 96.0% |
| above 13.94¢ | 10.0% | 9.9% |
| above 13.99¢ | 5.0% | 4.9% |
| above 13.49¢ | 94.0% | 96.0% |
| above 14.04¢ | 1.0% | 4.9% |
| above 14.09¢ | 5.0% | 4.9% |
| above 13.44¢ | 95.0% | 96.0% |
| above 13.39¢ | 99.0% | 99.0% |
| above 14.14¢ | 0.0% | 0.0% |
| above 14.19¢ | 0.0% | 0.0% |
| above 14.24¢ | 0.0% | 0.0% |
| above 14.29¢ | 0.0% | 0.0% |
| above 14.34¢ | 0.0% | 0.0% |
| above 14.39¢ | 0.0% | 0.0% |
| above 14.44¢ | 0.0% | 0.0% |
| above 14.49¢ | 0.0% | 0.0% |
| above 14.54¢ | 0.0% | 0.0% |

- Expiration: April 17, 2026

## Market Behavior & Price Dynamics

This market shows a strong upward trend, starting at a 47.0% probability and climbing to its current level of 99.0%. The most significant price action was a sharp 37.0 percentage point spike on April 15, 2026, which propelled the price from 62.0% to 99.0%. No specific news or external context was provided to explain the fundamental reason behind this dramatic re-pricing. Since this event, the price has stabilized at this new, higher level as it approaches the resolution date.

The market has experienced extremely low liquidity, with a total traded volume of only one contract. This indicates that very few participants are active and the price movements, including the major spike, could be the result of a single trade. While the 99.0% price level suggests near-certainty in the "YES" outcome, the minimal volume implies this sentiment is not widely held or tested by significant capital. The price of 99.0% has effectively become a ceiling for the market, while the earlier price of 47.0% served as an initial floor. Overall, the chart reflects a market that believes the "YES" outcome is highly probable, but this conviction is based on very thin trading activity.

## Significant Price Movements

### Outcome: above 13.59¢

#### 📈 April 17, 2026: 14.0pp spike

Price increased from 82.0% to 96.0%

**What happened:** No supporting research available for this anomaly.

### Outcome: above 13.49¢

#### 📈 April 15, 2026: 39.0pp spike

Price increased from 56.0% to 95.0%

**What happened:** No supporting research available for this anomaly.

## Contract Snapshot

The market resolves to "Yes" if the 1-minute candlestick close price for sugar on April 17, 2026, at 5 PM EDT, is above 13.74 USd/Lbs; otherwise, it resolves to "No." The market closes and is verified at this time using data from Trading Economics - Sugar. The settlement value is rounded to two decimal places, and if specific data is unavailable, the most recently published data will be used.

## Market Discussion

Limited public discussion available for this market.

## Market Data

| Contract | Yes Bid | Yes Ask | Last Price | Volume | Open Interest |
| --- | --- | --- | --- | --- | --- |
| above 13.39¢ | 45% | 100% | 99% | $1 | $1 |
| above 13.44¢ | 41% | 99% | 95% | $3 | $3 |
| above 13.49¢ | 66% | 98% | 94% | $53 | $33 |
| above 13.54¢ | 49% | 96% | 96% | $456.54 | $306.54 |
| above 13.59¢ | 50% | 94% | 96% | $388 | $183 |
| above 13.64¢ | 57% | 84% | 80% | $844.23 | $808.23 |
| above 13.69¢ | 37% | 62% | 39% | $1,652 | $326 |
| above 13.74¢ | 50% | 55% | 52% | $5,263.1 | $1,392.05 |
| above 13.79¢ | 10% | 37% | 21% | $2,082.05 | $1,112.33 |
| above 13.84¢ | 9% | 41% | 22% | $1,721.29 | $1,022.1 |
| above 13.89¢ | 2% | 23% | 22% | $725.1 | $522.1 |
| above 13.94¢ | 5% | 32% | 10% | $353 | $321 |
| above 13.99¢ | 4% | 12% | 5% | $95 | $95 |
| above 14.04¢ | 2% | 20% | 1% | $20 | $10 |
| above 14.09¢ | 0% | 21% | 5% | $10 | $10 |
| above 14.14¢ | 0% | 20% | 0% | $0 | $0 |
| above 14.19¢ | 0% | 18% | 0% | $0 | $0 |
| above 14.24¢ | 0% | 17% | 0% | $0 | $0 |
| above 14.29¢ | 0% | 16% | 0% | $0 | $0 |
| above 14.34¢ | 0% | 17% | 0% | $0 | $0 |
| above 14.39¢ | 0% | 18% | 0% | $0 | $0 |
| above 14.44¢ | 0% | 17% | 0% | $0 | $0 |
| above 14.49¢ | 0% | 16% | 0% | $0 | $0 |
| above 14.54¢ | 0% | 18% | 0% | $0 | $0 |

## What are the Brent Crude Oil Price Forecasts for H2 2025?

Vitol CEO 2025 Forecast | $70-$80 per barrel [[^]](https://www.reuters.com/business/energy/vitol-ceo-sees-70-80bbl-oil-prices-2025-flags-supply-uncertainty-2024-11-07/) |
IEA H2 2025 Forecast | Approximately $85.50/bbl [[^]](https://www.iea.org/reports/oil-market-report-december-2025) |
EIA Latest 2025 Forecast | Approximately $83.00/bbl [[^]](https://www.rigzone.com/news/eia_lifts_2025_and_2026_brent_forecasts_for_1st_time_in_2025-09-oct-2025-182038-article/) |

**Trading houses offer a range of Brent crude oil price forecasts**

Trading houses offer a range of Brent crude oil price forecasts. Vitol's CEO, Russell Hardy, projects Brent crude oil prices will largely remain in the **$70**-**$80** per barrel range throughout 2025, attributing this outlook to potential supply uncertainties [[^]](https://www.reuters.com/business/energy/vitol-ceo-sees-70-80bbl-oil-prices-2025-flags-supply-uncertainty-2024-11-07/). Trafigura's "2025 Annual Results: Marketplace Review" discusses **market** conditions, but an explicit numerical forecast for Brent crude oil in H2 2025 is not provided in the available summary [[^]](https://www.trafigura.com/news-and-insights/insights/2025-trafigura-annual-results/marketplace-review/). These projections are crucial for decisions like Brazil's sugarcane allocation.

Government agencies provide more detailed and updated oil price projections. The International Energy Agency (IEA), in its December 2025 Oil **Market** Report, forecasts Brent crude oil to average approximately **$85.50** per barrel for H2 2025, building on analysis from its October 2025 report [[^]](https://www.iea.org/reports/oil-**market**-report-december-2025). The U.S. Energy Information Administration (EIA) initially predicted Brent crude at around **$80.50** per barrel for H2 2025 in its September 2025 Short-Term Energy Outlook [[^]](https://www.eia.gov/outlooks/steo/archives/sep25.pdf). This outlook was later revised upward in October 2025, with the EIA raising its 2025 Brent projections to an average of roughly **$83.00** per barrel, marking its first upward revision that year and signaling a strengthening price outlook [[^]](https://www.rigzone.com/news/eia_lifts_2025_and_2026_brent_forecasts_for_1st_time_in_2025-09-oct-2025-182038-article/).

Overall **market** sentiment anticipates firmer prices for 2025. An aggregate "September 2025 Brent Consensus" report reflects a **market** consensus of approximately **$82.80** per barrel for September 2025 [[^]](https://gomarketrabbit.com/wp-content/uploads/2025/10/September-2025-Brent-Consensus.pdf). Generally, analysts expect Brent crude prices to be firmer throughout 2025, although some forecasts suggest a potential decrease in prices for 2026 [[^]](https://cfsrating.com/media/frroi0vq/oil-analyst_-firmer-prices-for-2025-keeping-our-2026-forecast-for-lower-prices.pdf). This fluctuating price environment for Brent crude oil will be a critical factor influencing Brazil's strategic choices concerning sugarcane allocation between ethanol production and sugar exports.

## Will India Impose Sugar Export Restrictions for 2025/26?

Southwest Monsoon 2025 Forecast | 104% of Long Period Average (LPA) [[^]](https://mausam.imd.gov.in/Forecast/mcmarq/mcmarq_data/Long%20range%20forecast%20issued%20by%20IMD%20on%20%2015.04.2025.pdf) |
2025-26 Sugar Season Output Estimate | Approximately 293 lakh tons [[^]](https://agrospectrumindia.com/2026/02/26/isma-releases-3rd-advance-estimates-for-2025-26-sugar-season-net-output-pegged-at-293-lakh-tons.html) |
Government Stance on Export Curbs | Ruled out for 2025-26 [[^]](https://www.economictimes.indiatimes.com/news/economy/foreign-trade/government-rules-out-sugar-export-curbs-and-maintains-duties-on-edible-oils/articleshow/130090427.cms) |

**The probability of the Indian government implementing sugar export restrictions for the 2025/2026 marketing year appears very low**

The **probability** of the Indian government implementing sugar export restrictions for the 2025/2026 marketing year appears very low. This assessment is primarily driven by long-range meteorological forecasts indicating favorable conditions for sugarcane cultivation. The India Meteorological Department (IMD) issued a long-range forecast on April 15, 2025, predicting a normal Southwest Monsoon for the year [[^]](https://mausam.imd.gov.in/Forecast/mcmarq/mcmarq_data/Long%20range%20forecast%20issued%20by%20IMD%20on%**20%**2015.04.2025.pdf). Rainfall is projected to be **104%** of the Long Period Average (LPA), which typically ensures robust agricultural yields, thereby contributing to sufficient domestic sugar production.

Domestic sugar production forecasts and government policy support ample supply. The Indian Sugar Mills Association (ISMA) provided its 3rd advance estimates for the 2025-26 sugar season, indicating a net sugar output of approximately 293 lakh tons [[^]](https://agrospectrumindia.com/2026/02/26/isma-releases-3rd-advance-estimates-for-2025-26-sugar-season-net-output-pegged-at-293-lakh-tons.html). While some earlier reports noted a cut in production estimates for 2025-26 due to weak yields in top states [[^]](https://m.economictimes.com/news/economy/agriculture/india-cuts-sugar-production-estimate-for-2025-26-on-weak-yields-in-top-states/articleshow/128785442.cms), the current overall outlook, combined with explicit government statements, suggests sufficient supply. The Indian government has firmly stated its intention not to impose curbs on sugar exports, with official reports indicating it "rules out sugar export curbs" [[^]](https://www.economictimes.indiatimes.com/news/economy/foreign-trade/government-rules-out-sugar-export-curbs-and-maintains-duties-on-edible-oils/articleshow/130090427.cms) and "will not impose curbs on sugar exports" [[^]](https://time.news/india-will-not-impose-curbs-on-sugar-exports/). This strong governmental stance, coupled with positive monsoon predictions and substantial production estimates, significantly reduces the likelihood of export restrictions for the 2025/2026 marketing year.

## How Might Managed Money Position in Sugar No. 11 Futures by Q4 2025?

Previous Managed Money Position | Reduced net-short due to supply constraints [[^]](https://www.commoditiescontrol.com/eagritrader/common/newsdetail.php?type=MKN&itemid=674368&comid=,6,&cid1=,6,&varietyid=,25,&varid=0) |
Projected Managed Money Position (Q4 2025) | Increased net-short or substantial reduction in net-longs [[^]](https://commodity-board.com/sugar-11-futures-slide-to-one-month-lows-as-supply-eases/) |
Market Driver Q4 2025-2026 | Increasing supply and downward price pressure [[^]](https://commodity-board.com/sugar-11-futures-slide-to-one-month-lows-as-supply-eases/) |

**Managed Money's speculative positions previously reflected supply constraints and price increases**

Managed Money's speculative positions previously reflected supply constraints and price increases. Historically, the net speculative position of Managed Money in ICE Sugar No. 11 futures contracts responded to **market** dynamics by reducing net-short positions, a trend linked to supply constraints [[^]](https://www.commoditiescontrol.com/eagritrader/common/newsdetail.php?type=MKN&itemid=674368&comid=,6,&cid1=,6,&varietyid=,25,&varid=0). This reduction in short exposure coincided with periods when ICE No. 11 prices reached monthly highs [[^]](https://www.ynsugar.com/sugar-**market**-review-ice-no-11-hits-monthly-highs-amid-geopolitical-tug-of-war/) and the **market** exhibited resilience [[^]](https://commodity-board.com/sugar-cane-**market**-analysis-resilience-returns-amid-stable-trading/). However, the **market** outlook for Q4 2025 and early 2026 suggests a significant shift in fundamentals that will likely influence Managed Money positioning.

Easing supply conditions are currently driving Sugar No. 11 prices lower. While previous CFTC data highlighted a reduction in shorts due to supply issues [[^]](https://www.commoditiescontrol.com/eagritrader/common/newsdetail.php?type=MKN&itemid=674368&comid=,6,&cid1=,6,&varietyid=,25,&varid=0), more recent analyses point to easing supply conditions exerting pressure on ICE No. 11 futures prices [[^]](https://commodity-board.com/sugar-11-futures-slide-to-one-month-lows-as-supply-eases/). Reports indicate that Sugar No. 11 prices have been sliding to one-month and five-week lows due to increasing supply [[^]](https://commodity-board.com/sugar-11-futures-slide-to-one-month-lows-as-supply-eases/) and **market** corrections [[^]](https://commodity-board.com/ice-sugar-no-11-slides-while-brazilian-refined-prices-stay-firm/).

Managed Money is projected to increase net-short positions for Q4 2025. These conditions, characterized by ample supply and downward price pressure, are expected to encourage Managed Money to increase their net-short positions or substantially reduce their net-long exposure [[^]](https://commodity-board.com/sugar-11-futures-slide-to-one-month-lows-as-supply-eases/). Therefore, for Q4 2025, the net speculative position for Managed Money is projected to trend towards increasing net-short exposure, moving away from a structural net-long stance. The re-emergence of ample supply and subsequent price weakness [[^]](https://commodity-board.com/sugar-cane-**market**-slight-weakness-amid-volatility-whats-driving-prices/) suggests a return to more bearish sentiment among speculators, favoring increased net-short positions due to perceived **market** weakness [[^]](https://commodity-board.com/sugar-11-futures-slide-to-one-month-lows-as-supply-eases/).

## Will Mexico Meet Its USMCA Sugar Export Quota for 2025/26?

Mexico Sugar Production 2025/26 | USDA: 6.25 MMT / CONADESUCA: 6.35 MMT [[^]](https://www.gob.mx/conadesuca/articulos/balance-nacional-de-azucar-y-edulcorantes-estimado-ciclo-2025-2026) |
Estimated USMCA Export Quota | 1.56 MMT [[^]](https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Sugar+Annual_Mexico+City_Mexico_MX2025-0022.pdf) |
Mexico Domestic Consumption 2025/26 | 4.80-4.85 MMT [[^]](https://www.gob.mx/conadesuca/articulos/balance-nacional-de-azucar-y-edulcorantes-estimado-ciclo-2025-2026) |

**Mexico's 2025/26 sugar production forecasts show a modest increase**

Mexico's 2025/26 sugar production forecasts show a modest increase. The United States Department of Agriculture (USDA) forecasts Mexico's 2025/26 sugar production at approximately 6.25 million metric tons (MMT) [[^]](https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Sugar+Annual_Mexico+City_Mexico_MX2025-0022.pdf). Mexico's Comité Nacional para el Desarrollo Sustentable de la Caña de Azúcar (CONADESUCA) projects a slightly higher figure of 6.35 MMT for the identical period [[^]](https://www.gob.mx/conadesuca/articulos/balance-nacional-de-azucar-y-edulcorantes-estimado-ciclo-2025-2026). These estimations indicate a modest rise in production compared to prior seasons, a trend also noted in various industry reports [[^]](https://www.sugaronline.com/2026/03/24/mexico-2025-26-sugar-production-rises-2-by-march-14-cnpr/).

Domestic consumption and export quota indicate a potential supply shortfall. For the 2025/26 marketing year, Mexico's domestic sugar consumption is projected by the USDA at 4.80 MMT and by CONADESUCA at 4.85 MMT [[^]](https://www.gob.mx/conadesuca/articulos/balance-nacional-de-azucar-y-edulcorantes-estimado-ciclo-2025-2026). The anticipated USMCA export quota to the United States is estimated at approximately 1.56 MMT [[^]](https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Sugar+Annual_Mexico+City_Mexico_MX2025-0022.pdf). After accounting for domestic needs, the available sugar surplus for export is calculated at 1.45 MMT based on the USDA's forecast, or 1.50 MMT according to CONADESUCA's projection [[^]](https://www.gob.mx/conadesuca/articulos/balance-nacional-de-azucar-y-edulcorantes-estimado-ciclo-2025-2026). Both surplus figures fall short of the USMCA quota. This tight balance suggests that Mexico may face challenges in fulfilling its entire US export quota without impacting its domestic supply or needing to import raw sugar, a situation that has previously tightened global supply [[^]](https://www.usda.gov/sites/default/files/documents/2026AOF-sugar-outlook.pdf).

## What Key Reports Shape the 2025/26 Global Sugar Market Outlook?

UNICA Reports | Monthly (April 2025 - March 2026) [[^]](https://www.ynsugar.com/brazils-2025-26-crushing-season-finale-sugar-to-ethanol-pivot-and-what-it-means-for-2026-27/) |
ISO World Sugar Balance | Quarterly estimates (e.g., August 2025, November 2025, February 2026) [[^]](https://www.isosugar.org/publication/418/quarterly-market-outlook---august-2025) |
USDA Sugar Report | Annual report (November 2025) [[^]](https://www.fas.usda.gov/report-release-announcement/sugar-world-markets-and-trade-9) |

**The 2025/26 supply narrative will be shaped by major recurring reports, offering crucial insights into global sugar market dynamics**

The 2025/26 supply narrative will be shaped by major recurring reports, offering crucial insights into global sugar **market** dynamics.

Monthly UNICA reports define Brazil's pivotal sugar and ethanol output. Brazil's 2025/26 sugar season, spanning April 2025 to March 2026, will be marked by monthly UNICA reports detailing sugar and ethanol production in the Center-South region [[^]](https://www.ynsugar.com/brazils-2025-26-crushing-season-finale-sugar-to-ethanol-pivot-and-what-it-means-for-2026-27/). These reports are critical due to Brazil's significant role in global supply and the influence of the 'sugar-to-ethanol pivot' [[^]](https://www.ynsugar.com/brazils-2025-26-crushing-season-finale-sugar-to-ethanol-pivot-and-what-it-means-for-2026-27/). Mill operators' decisions to alter their production mix, based on economic incentives for ethanol versus sugar, directly affect global sugar output and can lead to either an upward or downward price bias [[^]](https://www.ynsugar.com/brazils-2025-26-crushing-season-finale-sugar-to-ethanol-pivot-and-what-it-means-for-2026-27/).

Quarterly ISO estimates assess global sugar supply and demand balance. The International Sugar Organization (ISO) will provide quarterly 'World Sugar Balance' estimates, essential for assessing global supply and demand [[^]](https://www.isosugar.org/publication/399/world-sugar-balance---february-2025). For the 2025/26 period, key reports are expected in August 2025, November 2025, and February 2026, which will project global deficits or surpluses [[^]](https://www.isosugar.org/publication/418/quarterly-**market**-outlook---august-2025). A projected deficit typically indicates upward pressure on sugar prices, while a surplus implies downward pressure. The August 2025 report will be particularly influential as it offers the initial comprehensive global outlook for the new marketing year [[^]](https://www.isosugar.org/publication/418/quarterly-**market**-outlook---august-2025).

The USDA's November report provides a pivotal global sugar forecast. The USDA's 'Sugar: World Markets and Trade' report, an eagerly awaited annual assessment, is scheduled for November 2025 [[^]](https://www.fas.usda.gov/report-release-announcement/sugar-world-markets-and-trade-9). This pivotal report delivers comprehensive global forecasts for sugar production, consumption, and trade across major producing and consuming countries [[^]](https://www.fas.usda.gov/report-release-announcement/sugar-world-markets-and-trade-9). Its importance stems from its detailed analysis and the USDA's authoritative position, often establishing a benchmark for **market** expectations. Significant revisions within this report regarding global consumption or production can signal a tighter or looser **market**, thereby influencing price biases [[^]](https://www.fas.usda.gov/report-release-announcement/sugar-world-markets-and-trade-9).

## What Could Change the Odds

**Key takeaway.** Catalyst analysis unavailable.

## Key Dates & Catalysts

- **Expiration:** April 24, 2026
- **Closes:** April 17, 2026

## Decision-Flipping Events

- Catalyst analysis unavailable.

## Related Research Reports

- [Copper price on Apr 16, 2026 at 5pm EDT?](/markets/commodities/metals/copper-price-on-apr-16-2026-at-5pm-edt/)
- [Gold price on Apr 16, 2026 at 5pm EDT?](/markets/commodities/metals/gold-price-on-apr-16-2026-at-5pm-edt/)
- [Diesel (heating) oil price on Apr 17, 2026 at 5pm EDT?](/markets/commodities/oil-gas/diesel-heating-oil-price-on-apr-17-2026-at-5pm-edt/)
- [Live cattle price on Apr 17, 2026 at 5pm EDT?](/markets/commodities/agriculture/live-cattle-price-on-apr-17-2026-at-5pm-edt/)

## Historical Resolutions

**Historical Resolutions:** 20 markets in this series

**Outcomes:** 0 resolved YES, 20 resolved NO

**Recent resolutions:**

- KXSUGARW-26APR1017-T15.54: NO (Apr 10, 2026)
- KXSUGARW-26APR1017-T15.49: NO (Apr 10, 2026)
- KXSUGARW-26APR1017-T15.44: NO (Apr 10, 2026)
- KXSUGARW-26APR1017-T15.39: NO (Apr 10, 2026)
- KXSUGARW-26APR1017-T15.34: NO (Apr 10, 2026)

## Disclaimer

This content is for informational and educational purposes only and does not constitute financial, investment, legal, or trading advice.
Prediction markets involve risk of loss. Past performance does not guarantee future results.
We are not affiliated with Kalshi or any prediction market platform. Market data may be delayed or incomplete.

### Data Sources & Model Transparency

**Data Sources:** Octagon Deep Research aggregates information from multiple sources including news, filings, and market data.

**Freshness:** Analysis is generated periodically and may not reflect the latest developments. Verify critical information from primary sources.