You're a sugar trader at a commodity house. Over 12 months you'll trade raw & white sugar futures, lock the refining arbitrage, hedge FX and freight, and survive margin calls. Press Start Season to take the first news tick. Hover any underlined term for a definition.
Market Board
Instrument
Price
Δ mo
Trade Desk
P&L
$10.00M
Realised P&L$0
Open P&L$0
Cash$10.00M
Margin used$0
Risk
Net exposure$0
Flat. No risk on the book.
Open Positions
No open positions.
This Month's P&L — Why
Glossary
No.11 raw sugar, world market, ¢/lb · 112,000 lb/lot No.5 white refined sugar, London, $/tonne · 50t/lot White premium No.5 − No.11(conv). Refining margin. Refining toll ~$70/t to process raw into white (energy, labour, loss). Conversion yield ~92% — you need ~1.09 t raw per 1 t white. Ethanol parity price where Brazil mills are indifferent between making sugar or ethanol.