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Sugar #11 Jul '24 (SBN24)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Pressured by Strong Brazil Sugar Production

July NY world sugar #11 (SBN24) on Wednesday closed down -0.22 (-1.17%), and Aug London ICE white sugar #5 (SWQ24) closed down -10.70 (-1.93%).

Sugar prices on Wednesday settled moderately lower but remained above Tuesday's major lows.  NY sugar on Tuesday posted a 1-1/2 year nearest-futures low, and London sugar dropped to a 1-1/4 year low.

Ramped-up sugar production in Brazil undercut prices.  Unica reported Wednesday that Brazil's sugar production in the second half of April jumped +84.0% y/y to 1,843 MMT, and for the 2024/25 marketing year (Apr-Mar) sugar production rose +65.9% y/y to 2.558 MMT.  Brazil's sugar mills have boosted their cane crushing for sugar at the expense of ethanol production as they crushed 46.96% of sugarcane this year for sugar, up from 41.42% of cane used last year.

For the 2023/24 marketing year that just ended, Unica reported on April 19 that Brazilian sugar output rose +25.7% y/y to 42.425 MMT.  Meanwhile, Conab, Brazil's crop agency,... Read more

Contract Specifications

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Contract
Sugar #11
Contract Size
112,000 pounds (50 long tonnes)
Tick Size
0.01 cents per pound ($11.20 per contract)
Trading Hours
2:30a.m. - 12:00p.m. (Settles 12:00p.m.) CST
Exchange
ICE/US
Point Value
$1,120
Margin/Maintenance
$2,217/2,016
First Notice Date
07/01/24 (47 days)
Expiration Date
06/28/24 (44 days)

Seasonal Chart

Sugar #11 Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
438,212 (-21,884)
463,388 (-26,528)
Non-Commercials - Long / Short
200,063 (+492)
171,502 (+12,236)
Producers - Long / Short
292,492 (-19,505)
316,074 (-27,844)
Swap Dealers - Long / Short
105,572 (-2,605)
107,166 (+1,090)
Managed Money - Long / Short
134,181 (-1,460)
139,289 (+9,854)
Other Reportables - Long / Short
65,882 (+1,952)
32,213 (+2,382)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
18.31 +1.86%
on 05/14/24
20.00 -6.75%
on 05/07/24
-1.17 (-5.90%)
since 04/15/24
3-Month
18.31 +1.86%
on 05/14/24
22.59 -17.44%
on 02/27/24
-3.35 (-15.23%)
since 02/15/24
52-Week
18.31 +1.86%
on 05/14/24
25.54 -26.98%
on 11/07/23
-4.18 (-18.31%)
since 05/15/23

More Sugar #11 Quotes

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Most Recent Stories

More News
Sugar Prices Pressured by Strong Brazil Sugar Production

July NY world sugar #11 (SBN24 ) on Wednesday closed down -0.22 (-1.17%), and Aug London ICE white sugar #5 (SWQ24 ) closed down -10.70 (-1.93%). Sugar prices on Wednesday settled moderately lower but...

SBN24 : 18.65s (-1.17%)
SWQ24 : 542.30s (-1.93%)
Cocoa Prices Close Sharply Higher on Recovery After Monday's Plunge

July ICE NY cocoa (CCN24 ) on Wednesday closed up +521 (+7.12%), and July ICE London cocoa #7 (CAN24 ) closed up +405 (+6.59%). Cocoa prices on Wednesday settled sharply higher on ideas that this week's...

CCN24 : 7,843s (+7.12%)
CAN24 : 6,554s (+6.59%)
Coffee Prices Post Moderate Losses as ICE Coffee Inventories Rebound

July arabica coffee (KCN24 ) on Wednesday closed down -1.45 (-0.72%), and July ICE robusta coffee (RMN24 ) closed down -31 (-0.90%). Coffee prices today posted moderate losses on a rebound in ICE coffee...

KCN24 : 199.40s (-0.72%)
RMN24 : 3,402s (-0.90%)
Cotton Trading Mixed on Wednesday

The cotton market is trading mixed at midday, with July back up 73 points. Other contracts are within 5 points of unch, with the exception to the thinly traded October contracts. The outside market factors...

CTN24 : 75.41s (+1.05%)
CTV24 : 75.27s (-0.41%)
CTZ24 : 74.29s (+0.15%)
Sugar Prices Retreat as Brazil Ramps Up Sugar Production

July NY world sugar #11 (SBN24 ) this morning is down -0.19 (-1.01%), and Aug London ICE white sugar #5 (SWQ24 ) is down -8.80 (-1.59%). Sugar prices this morning are moderately lower but remain above...

SBN24 : 18.65s (-1.17%)
SWQ24 : 542.30s (-1.93%)
Cocoa Prices Recover More of This Week's Plunge

July ICE NY cocoa (CCN24 ) this morning is up +559 (+7.63%), and July ICE London cocoa #7 (CAN24 ) is up +401 (+6.52%). Cocoa prices this morning are sharply higher on speculation that this week's price...

CCN24 : 7,843s (+7.12%)
CAN24 : 6,554s (+6.59%)
Coffee Prices Under Pressure as ICE Coffee Inventories Rebound

July arabica coffee (KCN24 ) this morning is down -2.20 (-1.10%), and July ICE robusta coffee (RMN24 ) is down -53 (-1.54%). Coffee prices this morning are posting moderate losses on a rebound in ICE coffee...

KCN24 : 199.40s (-0.72%)
RMN24 : 3,402s (-0.90%)
Cotton Mixed to Start Wednesday

The cotton market is posting mixed trade on Wednesday morning after seeing limit down losses in the July contract on Tuesday. Other contracts settled down 11 to 148 points on the day. Limits are expanded...

CTN24 : 75.41s (+1.05%)
CTV24 : 75.27s (-0.41%)
CTZ24 : 74.29s (+0.15%)
Meteorology's MJO index: What it means and how it is affecting sugar and coffee prices

Jim explains how the MJO may be the factor behind the price movements in sugar and coffee

SBN24 : 18.65s (-1.17%)
SBV24 : 18.70s (-0.95%)
SWQ24 : 542.30s (-1.93%)
SWZ24 : 514.80s (-1.13%)
CANE : 11.54 (-0.94%)
RMN24 : 3,402s (-0.90%)
RMU24 : 3,336s (-0.83%)
Cotton Close With Limit July Losses

The cotton market saw July settled down the 3 cent limit, as other contracts were down 11 to 148 points on the day. Limits are expanded to 4 cents for the Wednesday session Crude oil was down $0.72 and...

CTN24 : 75.41s (+1.05%)
CTV24 : 75.27s (-0.41%)
CTZ24 : 74.29s (+0.15%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 19.37
2nd Resistance Point 19.16
1st Resistance Point 18.91
Last Price 18.65s
1st Support Level 18.45
2nd Support Level 18.24
3rd Support Level 17.99

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52-Week High 25.54
Fibonacci 61.8% 22.78
Fibonacci 50% 21.92
Fibonacci 38.2% 21.07
Last Price 18.65s
52-Week Low 18.31

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