Agriculture
Sugar trading: raw sugar, white sugar and ethanol
Sugar is a food commodity and, in Brazil, an ethanol feedstock. Raw sugar and white sugar are different contracts. Weather, the real, and fuel policy can move the futures price without any change in how sweet a drink is.
Market overview
Mills in Brazil can tilt cane toward sugar or toward ethanol when the relative price changes. That link makes sugar partly an energy decision in one country and a food decision everywhere else.
ICE lists raw and white contracts. They are not the same delivery. Specifications stay on ICE’s pages.
What tends to move it
Brazilian cane
Weather and the crush, plus the currency.
Ethanol
Fuel economics pull cane away from sugar or toward it.
Other origins
India and other producers can change export availability.
Contract type
Raw and white answer different buyers.
Ways to take the exposure
These are different legal positions. A platform may offer one and not the others. Nothing here is available in every country.
Raw sugar futures
The main world contract used as a benchmark.
White sugar futures
A refined contract. Not the raw price.
Producer and mill exposure
Equities, where listed, add operating risk.
Contract specifications
ICE
Contract unit, tick and margin are on the exchange page. They are not reprinted here.
Read the exchange pageIllustrative contract value
What the costs usually are
Futures commission and exchange fees. The raw-white spread is its own trade with its own liquidity, not a fee.
What a headline commission leaves out of the bill separates the commission from the spread, financing and other charges.
Risks that belong to this market
Policy
Export quotas and fuel mandates are political.
Currency
The Brazilian real can move the sugar price in dollars.
Wrong contract
White sugar is not raw sugar plus a fixed margin.
Providers in the commodities directory
The rows come from the existing commodities research note. No second provider list was created. No commercial relationship is recorded on these rows, so the button goes to the firm’s own site. This is not a ranking.
FP Markets
Named in the research note
Oil, gas, corn, sugar and precious metals among broader commodity CFDs
Pricing line. Spread/commission account structures
Platforms. MT4; MT5; cTrader; TradingView; IRESS in selected regions
Fees that are not in the note are not shown as zero. Eligibility where you live is not confirmed.
AvaTrade
Group listing only
Metals, energy and agricultural commodity CFDs depending entity
Pricing line. Spread-based; product/entity-specific fees
Platforms. WebTrader; AvaTrade app; MT4; MT5; AvaOptions
Fees that are not in the note are not shown as zero. Eligibility where you live is not confirmed.
Capital.com
Group listing only
65+ commodity CFDs provider-stated across metals, energy and soft/agricultural markets
Pricing line. Spread-based, no commission on cited CFD proposition; other costs apply
Platforms. Capital.com web/mobile; TradingView; MT4/MT5 on current international page
Fees that are not in the note are not shown as zero. Eligibility where you live is not confirmed.
CMC Markets
Group listing only
Commodity CFDs across metals, energy and soft commodities; investing offering differs by region
Pricing line. Spread-based CFD pricing; investing fees region-specific
Platforms. Next Generation; MT4/MT5 in selected regions; mobile/web
Fees that are not in the note are not shown as zero. Eligibility where you live is not confirmed.
FOREX.com
Group listing only
A published range includes crude oil, natural gas, corn and metals.
Pricing line. Spread-based commodity CFDs; financing can apply
Platforms. FOREX.com proprietary; TradingView; MT5/MT4 depending region
Fees that are not in the note are not shown as zero. Eligibility where you live is not confirmed.
Interactive Brokers
Group listing only
Energy, metals, agriculture and related commodity products via futures, ETFs/ETPs and metals
Pricing line. Product/exchange commissions + market-data fees; fund/ETF pricing varies
Platforms. Trader Workstation; IBKR Desktop; Client Portal; GlobalTrader; mobile
Fees that are not in the note are not shown as zero. Eligibility where you live is not confirmed.
OANDA
Group listing only
Hard and soft commodity CFDs including oil, copper, natural gas, corn plus precious metals
Pricing line. Spread-based commodity/metal CFDs
Platforms. OANDA web/mobile; MT4; MT5; TradingView
Fees that are not in the note are not shown as zero. Eligibility where you live is not confirmed.
Pepperstone
Group listing only
40 spot commodity markets across metals, energies and softs on cited UK page
Pricing line. Spread-based; Razor pricing applies to some products
Platforms. Pepperstone platform; MT4; MT5; cTrader; TradingView
Fees that are not in the note are not shown as zero. Eligibility where you live is not confirmed.
Saxo
Group listing only
Commodity CFDs, futures, options, spot metals and ETCs across energy, metals and agriculture
Pricing line. Tiered commissions/spreads by product and account tier
Platforms. SaxoInvestor; SaxoTrader; web/mobile
Fees that are not in the note are not shown as zero. Eligibility where you live is not confirmed.
Compare selected providers
Select two or three providers. The limit is three.
Calculators
Each tool starts from numbers you type. This page does not send a contract size or a live price into them.
Position size
You type the contract multiplier. This page does not insert one.
OpenFutures margin
Tick value and margin come from the specification you enter.
OpenRisk and reward
A planned payoff. It does not grade the trade.
OpenProfit and loss
A result from prices you type.
OpenStop and target
Distances you choose, not a market order.
OpenTrading journal
A record of trades you enter.
OpenTrading performance
Figures from the journal, not from a feed.
OpenWhat a commission leaves out
How spread, fees and financing sit beside a headline commission.
OpenFood and fuel
When ethanol pays better, cane can be diverted and sugar supply tightens without a failed crop. When sugar pays better, the reverse can happen. The futures price includes that choice. It is not only a story about consumption.
Provider notes in the directory rarely name sugar. Group membership is labelled and is not confirmation.
Questions
Why does ethanol matter to sugar?
In Brazil, cane can be processed into either. The relative price changes the split.
Is white sugar the same future as raw sugar?
No. They are different contracts.
Sources and review
Written by: WiT Markets Editorial. Writes and structures WiT Markets pages. Separates a sourced fact from a cell that is Not confirmed.
Review: Editorially reviewed. This is not a qualified specialist review and it is not a legal sign-off.
Last reviewed: . Next review due . The date is an editorial pass. It is not a live check of every third-party fee.
Other sources
- Intercontinental Exchange — checked 16 October 2026
- WiT Markets methodology — checked 13 October 2026
Methodology. Editorial policy. Corrections. Report an error.