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Sugar #11 May '24 (SBK24)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Settle Lower on Weakness in the Brazilian Real

July NY world sugar #11 (SBN24) on Monday closed down -0.37 (-1.95%), and Aug London ICE white sugar #5 (SWQ24) closed down -9.10 (-1.64%).

Sugar prices Monday fell to 1-week lows and settled with moderate losses due to weakness in the Brazilian real (^USDBRL), which fell to a 17-month low against the dollar.  The weaker real encourages export selling from Brazil's sugar producers.  

Losses in sugar were limited after the International Sugar Organization (ISO) Monday raised its global 2023/24 sugar deficit estimate to -2.95 MMT from a February estimate of -689,000 MT.  The ISO also raised its global 2023/24 sugar demand estimate to 182.2 MMT from 180.4 MMT, citing upward revisions to India's consumption figures.

Ramped-up sugar production in Brazil is negative for prices.  Unica reported on May 31 that Brazil's sugar production in the first half of May rose by +1.0% y/y to 2.567 MMT from 2.542 MMT a year earlier.  For the 2024/25 crop year through mid-May, sugar pr... 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
$1,663/1,512
First Notice Date
05/01/24
Expiration Date
04/30/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 4, 2024

View Chart Details
Commercials - Long / Short
469,221 (+989)
456,880 (-3,069)
Non-Commercials - Long / Short
193,811 (-9,520)
197,851 (-375)
Producers - Long / Short
325,737 (-987)
309,553 (-7,910)
Swap Dealers - Long / Short
106,777 (-435)
110,620 (+2,430)
Managed Money - Long / Short
123,100 (-11,008)
166,060 (-3,061)
Other Reportables - Long / Short
70,711 (+1,488)
31,791 (+2,686)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
19.17 +2.82%
on 04/17/24
22.91 -13.97%
on 04/02/24
-2.81 (-12.48%)
since 03/28/24
3-Month
19.17 +2.82%
on 04/17/24
23.62 -16.55%
on 02/09/24
-3.36 (-14.56%)
since 01/30/24
52-Week
19.17 +2.82%
on 04/17/24
26.76 -26.35%
on 11/07/23
-4.01 (-16.91%)
since 04/28/23

More Sugar #11 Quotes

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Most Recent Stories

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How a weakening El Niño will affect global sugar production and summer price action

No video this evening, but there is a free issue of Jim's newsletter for any barchart.com visitors who are newcomers to BestWeather's reports

CANE : 11.39 (-1.16%)
SBN24 : 18.67 (+0.21%)
SBV24 : 18.62 (+0.16%)
SWQ24 : 544.30 (+0.02%)
SWV24 : 527.90 (+0.13%)
Cotton Sets New Lows for the Move on Monday, Condition Ratings Decline

Cotton futures were triple digits lower at midday and found only lukewarm buying interest of the close. They settled 130 to 203 points lower. A sharply stronger US Dollar Index may be impairing export...

DXM24 : 105.225 (+0.11%)
CTN24 : 72.30 (+0.68%)
CTV24 : 72.78s (-1.91%)
CTZ24 : 71.97 (+0.53%)
Crop Progress

Crop Progress - 2024-06-10

ZSN24 : 1185-4 (-0.23%)
ZSPAUS.CM : 11.3075 (+0.81%)
ZSBAUS.CM : -0.5750 (+0.17%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,055s (+1.25%)
XTN24 : 4,651s (+0.30%)
ZCN24 : 453-0 (+0.28%)
ZCPAUS.CM : 4.3433 (+0.75%)
ZCBAUS.CM : -0.1741 (+1.42%)
XVU24 : 2,483s (+0.85%)
XEU24 : 62.38 (-0.11%)
Sugar Prices Settle Lower on Weakness in the Brazilian Real

July NY world sugar #11 (SBN24 ) on Monday closed down -0.37 (-1.95%), and Aug London ICE white sugar #5 (SWQ24 ) closed down -9.10 (-1.64%). Sugar prices Monday fell to 1-week lows and settled with moderate...

SBN24 : 18.67 (+0.21%)
SWQ24 : 544.30 (+0.02%)
^USDBRL : 5.35510 (+0.01%)
Cocoa Prices Pressured by a Stronger Dollar

July ICE NY cocoa (CCN24 ) on Monday closed down -246 (-2.48%), and July ICE London cocoa #7 (CAN24 ) closed down -54 (-0.68%). Cocoa prices Monday posted moderate losses. Monday's rally in the dollar...

CCU24 : 8,966 (+0.56%)
CAU24 : 7,250 (-0.15%)
DXY00 : 105.251 (+0.10%)
Coffee Prices Close Lower on Brazil Harvest Pressures and Brazilian Real Weakness

July arabica coffee (KCN24 ) on Monday closed down -3.40 (-1.51%), and July ICE robusta coffee (RMN24 ) closed down -39 (-0.91%). Coffee prices on Monday settled moderately lower, with arabica sliding...

KCU24 : 221.80 (-0.09%)
RMU24 : 4,116 (+0.83%)
^USDBRL : 5.35510 (+0.01%)
Cotton Futures Down Triple Digits After Options Expiration

Cotton futures are triple digits lower this morning, down 131 to 198 points. A sharply stronger US Dollar Index may be impairing export sales. July cotton options expired on Friday, with futures deliveries...

DXM24 : 105.225 (+0.11%)
CTN24 : 72.30 (+0.68%)
CTV24 : 72.78s (-1.91%)
CTZ24 : 71.97 (+0.53%)
Sugar Prices Slide on Weakness in the Brazilian Real

July NY world sugar #11 (SBN24 ) today is down -0.22 (-1.16%), and Aug London ICE white sugar #5 (SWQ24 ) is down -5.50 (-0.99%). Today, sugar prices are under pressure from a fall in the Brazilian real...

SBN24 : 18.67 (+0.21%)
SWQ24 : 544.30 (+0.02%)
^USDBRL : 5.35510 (+0.01%)
Cocoa Prices Undercut by a Stronger Dollar

July ICE NY cocoa (CCN24 ) today is down -337 (-3.39%), and July ICE London cocoa #7 (CAN24 ) is down -144 (-1.80%). Cocoa prices today are moderately lower. Today's rally in the dollar index to a 3-1/2...

CCU24 : 8,966 (+0.56%)
CAU24 : 7,250 (-0.15%)
Coffee Prices Slip on Brazil Harvest Pressures and Brazilian Real Weakness

July arabica coffee (KCN24 ) today is down -2.40 (-1.07%), and July ICE robusta coffee (RMN24 ) is down -4 (-0.09%). Coffee prices today are trading lower, with arabica sliding to a 2-week low and robusta...

KCU24 : 221.80 (-0.09%)
RMU24 : 4,116 (+0.83%)
^USDBRL : 5.35510 (+0.01%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 20.75
2nd Resistance Point 20.49
1st Resistance Point 20.10
Last Price 19.71s
1st Support Level 19.45
2nd Support Level 19.19
3rd Support Level 18.80

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52-Week High 26.76
Fibonacci 61.8% 23.86
Fibonacci 50% 22.97
Fibonacci 38.2% 22.07
Last Price 19.71s
52-Week Low 19.17

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