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Sugar #11 May '24 (SBK24)

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Sugar #11 Futures Market News and Commentary

Sugar Settles Higher on Strength in Gasoline Prices

May NY world sugar #11 (SBK24) on Monday closed up +0.04 (+0.18%), and May London ICE white sugar #5 (SWK24) closed up +4.60 (+0.74%).

Sugar prices on Monday rallied to 2-week highs due to the strength of gasoline prices.  April gasoline (RBJ24) on Monday jumped to a 6-month high, which boosted ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward ethanol production instead of sugar, thus reducing sugar supplies.  

Gains in sugar were limited on Monday due to weakness in the Brazilian real (^USDBRL).   The real on Monday dropped to a 4-1/2 month low against the dollar, encouraging export selling from Brazil's sugar producers.

On the bearish side for sugar, the Indian Sugar and Bioenergy Manufacturers Association last Wednesday raised its forecast for India's sugarcane production in the 2023-24 marketing year (that began on Oct 1) by +2.9% to 34 MMT from January's forecast of 33.05 MMT.  Higher sugarcane production likely means hi... 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 11:55a.m.) CST
Exchange
ICE/US
Point Value
$1,120
Margin/Maintenance
$2,217/2,016
First Notice Date
05/01/24 (43 days)
Expiration Date
04/30/24 (42 days)

Seasonal Chart

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

Commitment of Traders Positions as of Mar 12, 2024

View Chart Details
Commercials - Long / Short
429,842 (-9,407)
519,310 (-500)
Non-Commercials - Long / Short
177,558 (-4,988)
92,595 (-8,174)
Producers - Long / Short
295,406 (+3,669)
345,347 (+8,715)
Swap Dealers - Long / Short
99,274 (-13,421)
138,801 (-9,560)
Managed Money - Long / Short
113,521 (-2,258)
60,449 (-6,029)
Other Reportables - Long / Short
64,037 (-2,730)
32,146 (-2,145)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
20.53 +7.65%
on 03/05/24
22.95 -3.70%
on 02/27/24
-0.45 (-2.17%)
since 02/16/24
3-Month
19.80 +11.62%
on 12/21/23
23.66 -6.59%
on 01/25/24
+1.23 (+5.69%)
since 12/19/23
52-Week
18.70 +18.18%
on 03/20/23
26.76 -17.41%
on 11/07/23
+3.30 (+17.30%)
since 03/17/23

More Sugar #11 Quotes

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Most Recent Stories

More News
Cotton Off Highs, Still Higher on Monday

The May cotton futures were 163 points off their 226 point gain for the close, though the nearby contracts were still 1 to 67 points higher at the close. The Cotlook A Index for was down by 135 points...

CTK24 : 93.41 (-1.23%)
CTN24 : 93.26 (-1.06%)
CTV24 : 86.02 (-0.91%)
Sugar Settles Higher on Strength in Gasoline Prices

May NY world sugar #11 (SBK24) on Monday closed up +0.04 (+0.18%), and May London ICE white sugar #5 (SWK24 ) closed up +4.60 (+0.74%). Sugar prices on Monday rallied to 2-week highs due to the strength...

SWK24 : 628.40 (+0.06%)
RBK24 : 2.7259 (-0.71%)
^USDBRL : 5.03090 (+0.11%)
Cocoa Prices Post New Record Highs on Uncertainty About Global Cocoa Production

May ICE NY cocoa (CCK24 ) on Monday closed up +154 (+1.92%), and May ICE London cocoa #7 (CAK24 ) closed up +262 (+4.00%). On Monday, the May NY and London cocoa futures contracts extended their two-month-long...

CCK24 : 8,172s (+1.92%)
CAK24 : 6,804s (+4.00%)
Arabica Coffee Weighed Down by Weakness in the Brazilian Real

May arabica coffee (KCK24 ) on Monday closed down -1.20 (-0.66%), and ICE robusta coffee (RMK24 ) closed up +35 (+1.06%). Coffee prices on Monday settled mixed, with robusta posting a 1-week high. Weakness...

KCK24 : 180.80 (-0.52%)
RMK24 : 3,318 (-0.75%)
^USDBRL : 5.03090 (+0.11%)
Cotton Holding Firm at Midday

Cotton futures attempted to rally out of the weekend early on Monday, though futures have backed off from their 226 point gains. Current prices are still up by 14 to 58 points at midday. The Cotlook A...

CTK24 : 93.41 (-1.23%)
CTN24 : 93.26 (-1.06%)
CTV24 : 86.02 (-0.91%)
Sugar Falls Back on Brazilian Real Strength

May NY world sugar #11 (SBK24 ) this morning is down -0.17 (-0.77%), and May London ICE white sugar #5 (SWK24 ) is down -0.40 (-0.06%). Sugar prices this morning fell back from 2-week highs and posted...

SBK24 : 22.13 (-0.14%)
SWK24 : 628.40 (+0.06%)
Cocoa Prices Post New Record Highs on Uncertainty About Global Cocoa Output

May ICE NY cocoa (CCK24 ) this morning is up +126 (+1.57%), and May ICE London cocoa #7 (CAK24 ) is up +233 (+3.56%). The May NY and London cocoa futures contracts today extended their parabolic two-month-long...

CCK24 : 8,172s (+1.92%)
CAK24 : 6,804s (+4.00%)
Arabica Coffee Slips on Weakness in the Brazilian Real

May arabica coffee (KCK24 ) this morning is down -0.20 (-0.11%), and ICE robusta coffee (RMK24 ) is up +15 (+0.45%). Coffee prices this morning are mixed, with robusta posting a 1-week high. Weakness...

KCK24 : 180.80 (-0.52%)
RMK24 : 3,318 (-0.75%)
Morning Cotton Up Triple Digits

Cotton prices are starting out the new week with triple digit gains so far for old crop. The May contract was up by 226 points earlier overnight. Nearby cotton futures settled 24 to 46 points in the black...

CTK24 : 93.41 (-1.23%)
CTN24 : 93.26 (-1.06%)
CTV24 : 86.02 (-0.91%)
Short Robusta Coffee Calendar Spread and Short Cotton Calendar Spread

Robusta Coffee is amongst the most “expensive and overbought” markets in the agriculture complex.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 22.77
2nd Resistance Point 22.56
1st Resistance Point 22.36
Last Price 22.09
1st Support Level 21.95
2nd Support Level 21.74
3rd Support Level 21.54

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52-Week High 26.76
Fibonacci 61.8% 23.68
Fibonacci 50% 22.73
Last Price 22.09
Fibonacci 38.2% 21.78
52-Week Low 18.70

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