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Sugar #11 Jul '24 (SBN24)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Hammered on the Outlook for Abundant Supplies

July NY world sugar #11 (SBN24) today is down -0.25 (-1.34%), and Aug London ICE white sugar #5 (SWQ24) is down -4.10 (-0.76%).

Sugar prices today extended this week's slide, with NY sugar posting a 1-1/2 year nearest-futures low and London sugar posting a 1-1/4 year low on the outlook for ample global sugar supplies.

Ramped-up sugar production in Brazil is hammering sugar 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, projected on... 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 (46 days)
Expiration Date
06/28/24 (43 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
17.95 +2.40%
on 05/16/24
20.00 -8.10%
on 05/07/24
-1.15 (-5.89%)
since 04/16/24
3-Month
17.95 +2.40%
on 05/16/24
22.59 -18.64%
on 02/27/24
-3.97 (-17.76%)
since 02/16/24
52-Week
17.95 +2.40%
on 05/16/24
25.54 -28.03%
on 11/07/23
-4.15 (-18.42%)
since 05/16/23

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Most Recent Stories

More News
Cotton Rallying Despite Weaker Export Sales Data

The cotton market is trading with 131 to 176 point gains on Thursday’s midday. The outside market factors are a mixed bag, with crude oil up another 48 cents and the US dollar index back 113 points higher....

CTN24 : 76.87 (+1.94%)
CTV24 : 76.49 (+1.62%)
CTZ24 : 75.48 (+1.60%)
Sugar Prices Hammered on the Outlook for Abundant Supplies

July NY world sugar #11 (SBN24 ) today is down -0.25 (-1.34%), and Aug London ICE white sugar #5 (SWQ24 ) is down -4.10 (-0.76%). Sugar prices today extended this week's slide, with NY sugar posting a...

SBN24 : 18.34 (-1.66%)
SWQ24 : 537.80 (-0.83%)
Cocoa Sharply Lower as a Lack of Liquidity Sparks Volatile Price Moves

July ICE NY cocoa (CCN24 ) this morning is down -467 (-5.95%), and July ICE London cocoa #7 (CAN24 ) is down -314 (-4.79%). Cocoa prices today are sharply lower as the market continues its volatile price...

CCN24 : 7,371 (-6.02%)
CAN24 : 6,229s (-4.96%)
Coffee Prices Mixed on Higher ICE Coffee Inventories and Brazilian Real Strength

July arabica coffee (KCN24 ) this morning is down -0.60 (-0.30%), and July ICE robusta coffee (RMN24 ) is up +2 (+0.06%). Coffee prices today are mixed. A rebound in ICE coffee inventories from historically...

KCN24 : 197.10 (-1.15%)
RMN24 : 3,420s (+0.53%)
^USDBRL : 5.12630 (-0.20%)
Cotton Bounce Extending into Thursday

The cotton market is up 84 to 119 points to start the Thursday session. Most contracts showed gains on Wednesday, with futures up 8 to 78 points. The outside market factors were helpful, with crude oil...

CTN24 : 76.87 (+1.94%)
CTV24 : 76.49 (+1.62%)
CTZ24 : 75.48 (+1.60%)
Cotton Gets a Bounce on Wednesday

The cotton market posted strength across most contracts on Wednesday, with futures up 8 to 78 points across most contracts. The outside market factors were helpful, with crude oil up 79 cents and the US...

CTN24 : 76.87 (+1.94%)
CTV24 : 76.49 (+1.62%)
CTZ24 : 75.48 (+1.60%)
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 : 18.34 (-1.66%)
SWQ24 : 537.80 (-0.83%)
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 : 7,371 (-6.02%)
CAN24 : 6,229s (-4.96%)
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 : 197.10 (-1.15%)
RMN24 : 3,420s (+0.53%)
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 : 76.87 (+1.94%)
CTV24 : 76.49 (+1.62%)
CTZ24 : 75.48 (+1.60%)

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 18.34
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% 22.64
Fibonacci 50% 21.75
Fibonacci 38.2% 20.85
Last Price 18.34
52-Week Low 17.95

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