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Sugar #11 Mar '24 (SBH24)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Close Lower on Brazilian Real Weakness and an Improved Supply Outlook

July NY world sugar #11 (SBN24) on Wednesday closed down -0.33 (-1.78%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24) closed down -2.90 (-0.53%).

Sugar prices Wednesday were under moderate pressure from weakness in the Brazilian real and an improved global supply outlook.  On Wednesday, the real (^USDBRL) fell to a 1-week low against the dollar, encouraging export selling from Brazil's sugar producers.

Sugar prices have tumbled over the past seven weeks as ramped-up sugar production in Brazil improved the global supply outlook.  Last Thursday, NY sugar fell to a 1-1/2 year nearest-futures low, and London sugar dropped to a 1-1/4 year low on the outlook for ample global sugar supplies.  Unica reported last 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 t... 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
03/01/24
Expiration Date
02/29/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
439,623 (+1,411)
451,082 (-12,306)
Non-Commercials - Long / Short
209,791 (+9,728)
183,900 (+12,398)
Producers - Long / Short
300,967 (+8,475)
308,014 (-8,060)
Swap Dealers - Long / Short
106,625 (+1,053)
111,037 (+3,871)
Managed Money - Long / Short
135,567 (+1,386)
151,079 (+11,790)
Other Reportables - Long / Short
74,224 (+8,342)
32,821 (+608)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
22.11 +2.13%
on 02/22/24
24.42 -7.53%
on 02/09/24
-0.95 (-4.04%)
since 01/29/24
3-Month
20.03 +12.73%
on 12/26/23
26.85 -15.90%
on 11/30/23
-4.28 (-15.93%)
since 11/29/23
52-Week
19.56 +15.44%
on 03/01/23
28.14 -19.76%
on 11/07/23
+2.98 (+15.20%)
since 02/28/23

More Sugar #11 Quotes

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Most Recent Stories

More News
Why Coffee Prices Exploded. What Next?

Jim's focus on the coffee crop via his grapevine of agents at the source in three countries (He also shares a thought or two about soybeans, sugar and orange juice)

KCN24 : 220.45s (+1.50%)
KCU24 : 219.25s (+1.50%)
KCZ24 : 217.90s (+1.49%)
RMN24 : 3,917s (+4.90%)
RMU24 : 3,844s (+4.66%)
RMX24 : 3,738s (+4.12%)
Cocoa continues to have the highest % carry yield score across all markets at 26.7%.

Cocoa had a huge run up in the first 4 months of the year and spread prices across the board are inflated. I expect to see continued contraction in the carry yield which will benefit “sell” calendar...

Cotton Post Limit Gains on Wednesday

Cotton futures posted a 3 cent limit gain in the July contract on Wednesday, with other contracts up 68 to 220 points. ICE did expand limits to 4 cents for the Thursday session. The outside market factors...

CTN24 : 79.14 (-0.30%)
CTV24 : 78.28s (+2.89%)
CTZ24 : 77.15 (-0.17%)
Sugar Prices Close Lower on Brazilian Real Weakness and an Improved Supply Outlook

July NY world sugar #11 (SBN24 ) on Wednesday closed down -0.33 (-1.78%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24 ) closed down -2.90 (-0.53%). Sugar prices Wednesday were under moderate pressure...

SBN24 : 18.23s (-1.78%)
SWQ24 : 541.50s (-0.53%)
^USDBRL : 5.15250 (+0.03%)
Cocoa Prices Recover Recent Sharp Losses

July ICE NY cocoa (CCN24 ) on Wednesday closed up +142 (+1.92%), and July ICE London cocoa #7 (CAN24 ) closed up +132 (+2.16%). Cocoa prices rallied moderately for a second day. Prices are correcting...

CCN24 : 7,536s (+1.92%)
CAU24 : 5,886s (+1.98%)
Coffee Prices Push Higher on Weather Concerns in Brazil and Vietnam

July arabica coffee (KCN24 ) on Wednesday closed up +3.25 (+1.50%), and July ICE robusta coffee (RMN24 ) closed up +183 (+4.90%). Coffee prices on Wednesday extended Tuesday's rally to fresh 3-week highs....

KCN24 : 220.45s (+1.50%)
RMN24 : 3,917s (+4.90%)
Cotton Pushing Limit Gains on Wednesday

Cotton are trading with limit gains in the July contract so far on Wednesday, with other contracts up 145 to 216 points. The outside market factors are again not supportive, with crude oil 38 cents lower...

CTN24 : 79.14 (-0.30%)
CTV24 : 78.28s (+2.89%)
CTZ24 : 77.15 (-0.17%)
Sugar Prices Slide on Brazilian Real Weakness and an Improved Supply Outlook

July NY world sugar #11 (SBN24 ) today is down -0.30 (-1.62%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24 ) is down -2.10 (-0.39%). Sugar prices today are under moderate pressure from weakness...

SBN24 : 18.23s (-1.78%)
SWQ24 : 541.50s (-0.53%)
^USDBRL : 5.15250 (+0.03%)
Cocoa Prices Correct Higher From Their Month-Long Decline

July ICE NY cocoa (CCN24 ) today is +126 (+1.70%), and July ICE London cocoa #7 (CAN24 ) is up +116 (+1.90%). Cocoa prices today are moving moderately higher for a second day. Prices are correcting upward...

CCN24 : 7,536s (+1.92%)
CAU24 : 5,886s (+1.98%)
Coffee Prices Extend This Week's Rally on Crop Concern in Brazil and Vietnam

July arabica coffee (KCN24 ) today is up +2.05 (+0.94%), and July ICE robusta coffee (RMN24 ) is up +149 (+3.99%). Coffee prices today extended Tuesday's sharp rally and posted 3-week highs. Coffee prices...

KCN24 : 220.45s (+1.50%)
RMN24 : 3,917s (+4.90%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 25.04
2nd Resistance Point 24.51
1st Resistance Point 23.55
Last Price 22.58s
1st Support Level 22.06
2nd Support Level 21.53
3rd Support Level 20.57

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52-Week High 28.14
Fibonacci 61.8% 24.86
Fibonacci 50% 23.85
Fibonacci 38.2% 22.84
Last Price 22.58s
52-Week Low 19.56

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