ICE sugar markets reach record open interest, surpassing 2010 high

Intercontinental Exchange (NYSE: ICE) reported that its global sugar markets reached a record open interest of over 2.3 million contracts on August 14, 2026, a 43% increase year-over-year, surpassing the previous record set in February 2010.

The record was driven by activity in ICE Sugar No. 11, the global benchmark for raw cane sugar, which reached a record open interest of 2.2 million contracts, and ICE White Sugar, the benchmark for refined sugar, which reached a record open interest of 188,000 contracts.

Matthew Ryan, Senior Director of Soft Commodities at ICE, attributed the milestone to shifting supply and demand balances, a strong El Niño forecast through January 2027 weighing on supply outlooks, and uncertainty in some of the world's largest producing regions. "That depth of engagement is reflected in positioning in our raw and white sugar markets, driving open interest to levels not seen since 2010," Ryan said.

Open interest across ICE's broader agricultural complex is up 46% year-over-year, with Cocoa up 65%, Cotton up 76%, Canola up 68%, and Coffee up 8%. Average daily volume across the agricultural complex is up 28% year-to-date, according to the company.

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