Benchmark Pricing
ICE Softs · CBOT Grains · BMD Palm — indicative mid-session marks
ICE · SBK6
Sugar No. 11
18.44¢/lb
As of 28 Feb 2026, 20:00 UTC
ICE · SWK6
Sugar No. 5 (White)
512.8$/MT
As of 28 Feb 2026, 20:00 UTC
CBOT · ZWK6
Wheat
568.25¢/bu
As of 28 Feb 2026, 20:00 UTC
CBOT · ZCK6
Corn
448.75¢/bu
As of 28 Feb 2026, 20:00 UTC
BMD · FCPOK6
Crude Palm Oil
4,188MYR/MT
As of 28 Feb 2026, 10:00 UTC
CBOT · ZLK6
Soybean Oil
44.14¢/lb
As of 28 Feb 2026, 20:00 UTC
Refining Margin & Spread Indicators
Desk-style relative value — not live broker feeds
White Premium (No.5 − No.11)
Refining margin proxy: ICE White Sugar vs Raw Sugar No.11
+106.4$/MT
Sugar No.5 − Sugar No.11 · widening
White premium above 5Y avg (~$85/MT) — supportive for refined sellers / refiners
Wheat–Corn Spread
CBOT Wheat vs Corn feed substitution indicator
+119.5¢/bu
Wheat − Corn · narrowing
Spread compressing — corn increasingly competitive vs feed wheat in MENA bids
CPO–SBO Crush Proxy
Palm vs soybean oil relative value (USD-equivalent)
-42.8$/MT
Crude Palm Oil − Soybean Oil · stable
Palm still discounted to SBO — supportive for CPO imports into EU/India
Santos FOB Premium vs No.11
Physical Brazilian raw sugar basis vs ICE No.11
+28.5$/MT
FOB Santos Physical − Sugar No.11 · widening
Tight prompt stems lifting Santos basis — watch Apr/May freight to Asia