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Sugar #11 Mar '23 (SBH23)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Close Higher on Strength in Crude Oil

July NY world sugar #11 (SBN24) on Tuesday closed up +0.16 (+0.86%), and Aug London ICE white sugar #5 (SWQ24) closed up +2.30 (+0.42%).

Sugar prices Tuesday recovered from 1-week lows and posted moderate gains.  Short-covering emerged in sugar futures Tuesday after crude prices (CLN24) rallied to a 1-week high.  Higher crude prices benefit ethanol prices and may prompt global sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.  

Another supportive factor for sugar was Monday's action by the International Sugar Organization (ISO) to raise 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 fir... 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
03/01/23
Expiration Date
02/28/23 (expired)

Seasonal Chart

Sugar #11 Mar '23
Average Price Chart for 5 Prior Mar 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
20.50 +7.71%
on 02/07/23
22.36 -1.25%
on 02/28/23
+1.12 (+5.34%)
since 01/27/23
3-Month
18.92 +16.70%
on 01/09/23
22.36 -1.25%
on 02/28/23
+2.70 (+13.93%)
since 11/28/22
52-Week
17.19 +28.45%
on 09/19/22
22.36 -1.25%
on 02/28/23
+4.17 (+23.28%)
since 02/28/22

More Sugar #11 Quotes

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Most Recent Stories

More News
Cotton Posts Gains on Tuesday

Cotton futures pushed higher on Tuesday, recovering from Monday’s losses. Contracts we3re mostly 8 to 92 points higher. A 118 point stronger US Dollar Index was shrugged off, with crude oil up 63 cents...

DXM24 : 105.245 (+0.04%)
CTN24 : 72.46 (-0.37%)
CTV24 : 73.22 (+0.49%)
CTZ24 : 72.24 (-0.26%)
Sugar Prices Close Higher on Strength in Crude Oil

July NY world sugar #11 (SBN24 ) on Tuesday closed up +0.16 (+0.86%), and Aug London ICE white sugar #5 (SWQ24 ) closed up +2.30 (+0.42%). Sugar prices Tuesday recovered from 1-week lows and posted moderate...

SBV24 : 18.75s (+0.86%)
SWQ24 : 546.50s (+0.42%)
Cocoa Prices Finish Higher on Global Supply Woes

July ICE NY cocoa (CCN24 ) on Tuesday closed up +223 (+2.30%), and July ICE London cocoa #7 (CAN24 ) closed up +178 (+2.24%). Cocoa prices Tuesday settled moderately higher, with London cocoa posting a...

CCU24 : 9,254s (+3.79%)
CAU24 : 7,443s (+2.51%)
Coffee Prices Ease on Brazil Harvest Pressures

July arabica coffee (KCN24 ) Tuesday closed down -0.85 (-0.38%), and July ICE robusta coffee (RMN24 ) closed down -40 (-0.94%). Coffee prices on Tuesday gave up an early advance and posted moderate losses,...

KCU24 : 221.45s (-0.25%)
RMU24 : 4,053s (-0.71%)
^USDBRL : 5.36630 (unch)
Cotton Futures Pushing Higher on Tuesday

Cotton futures are rallying back on Tuesday, with contracts 68 to 123 points higher. A 198 point stronger US Dollar Index is being shrugged off, with crude oil up 45 cents providing some outside support....

DXM24 : 105.245 (+0.04%)
CTN24 : 72.46 (-0.37%)
CTV24 : 73.22 (+0.49%)
CTZ24 : 72.24 (-0.26%)
Will Sugar Reach a Bottom and Reverse Higher?

World sugar futures ran out of upside steam after trading to a twelve-year high in November 2023. The continuous sugar futures contract has made lower highs and lower lows since late 2023, with the latest...

SBN24 : 18.79s (+0.86%)
CCN24 : 9,910s (+2.30%)
CTN24 : 72.46 (-0.37%)
KCN24 : 220.55s (-0.38%)
OJN24 : 409.60s (-4.60%)
CANE : 11.47 (+0.70%)
Sugar Prices Follow Crude Oil Higher

July NY world sugar #11 (SBN24 ) today is up +0.15 (+0.81%), and Aug London ICE white sugar #5 (SWQ24 ) is up +3.00 (+0.55%). Sugar prices today recovered from 1-week lows and are moderately higher. Short-covering...

SBV24 : 18.75s (+0.86%)
SWQ24 : 546.50s (+0.42%)
Cocoa Prices Push Higher on Global Supply Woes

July ICE NY cocoa (CCN24 ) today is up +301 (+3.11%), and July ICE London cocoa #7 (CAN24 ) is up +185 (+2.33%). Cocoa prices today are sharply higher, with London cocoa posting a 5-week high and NY cocoa...

CCU24 : 9,254s (+3.79%)
CAU24 : 7,443s (+2.51%)
Arabica Coffee Slightly Higher on Dry Conditions in Brazil

July arabica coffee (KCN24 ) today is up +0.30 (+0.14%), and July ICE robusta coffee (RMN24 ) is down -28 (-0.66%). Coffee prices today are mixed. Arabica coffee is supported by the lack of rain in Brazil....

KCU24 : 221.45s (-0.25%)
RMU24 : 4,053s (-0.71%)
^USDBRL : 5.36630 (unch)
Cotton Futures Mostly Lower To Begin Tuesday

It’s Tuesday, do you know where your cotton market is? Futures are trading steady to 18 points lower. Cotton futures settled 130 to 203 lower on Monday. A sharply stronger US Dollar Index may be impairing...

DXM24 : 105.245 (+0.04%)
CTN24 : 72.46 (-0.37%)
CTV24 : 73.22 (+0.49%)
CTZ24 : 72.24 (-0.26%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 22.65
2nd Resistance Point 22.51
1st Resistance Point 22.29
Last Price 22.08s
1st Support Level 21.93
2nd Support Level 21.79
3rd Support Level 21.57

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52-Week High 22.36
Last Price 22.08s
Fibonacci 61.8% 20.39
Fibonacci 50% 19.78
Fibonacci 38.2% 19.16
52-Week Low 17.19

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