ICE white sugar delivery May 2026 has officially commenced, recording a total of 9,453 lots—the largest for a May contract in nearly 14 years.
The Intercontinental Exchange (ICE) has officially issued the delivery notice for its May 2026 White Sugar futures contract, recording a total of 9,453 lots across 12 tenders, signaling that the contract has entered its final physical delivery phase.
Delivery Structure: ADM Dominates, Thailand at the Core
In this delivery cycle, global agricultural giant Archer-Daniels-Midland (ADM) emerged as the largest seller, delivering 2,034 and 4,389 lots to buyers MCQ and MFL respectively via Bangkok/Kohsichang and Laem Chabang/Sri Racha ports, as well as an additional 546 and 1,176 lots through the same two ports. ADM alone accounted for 8,145 lots — more than 86% of the total delivery volume. Thailand served as the primary delivery country, absorbing the vast majority of lots.
In addition, sellers ICS, LDT, MCQ, and SCD also participated in the delivery process, with shipments directed to Puerto Quetzal, Guatemala, and Laem Chabang/Sri Racha in Thailand. Total delivery volume routed through Guatemala reached 1,196 lots.
Market Context: Global Sugar Prices Remain Under Pressure
The May contract delivery volume is the largest recorded for a May contract in nearly 14 years, reflecting a tendency among physical sugar holders to settle futures positions through actual delivery rather than early liquidation during periods of depressed prices. This development further underscores the reality of an oversupplied global white sugar market and elevated trader inventories.
Disclaimer: This report is synthesized from official ICE delivery documentation and publicly available market data. It is intended for informational and reference purposes only.
