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Sugar #11 Mar '23 (SBH23)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Underpinned by Global Supply Woes

March NY world sugar #11 (SBH23) on Friday closed up +0.28 (+1.35%), and March London white sugar #5 (SWH23) closed up +7.40 (+1.33%).

Sugar prices Friday extended this week's rally to 1-month highs.   Sugar has climbed this week on speculation that smaller sugar output in India will dissuade the government from allowing additional sugar exports.  India's National Federation of Cooperative Sugar Factories projects that India's 2022/23 sugar production will fall -4.5% y/y to 34.3 MMT.   India's Food Secretary Chopra said last Thursday that India would assess domestic demand before deciding whether to allow more sugar exports next month.   India is the world's second-largest sugar exporter.  

Sugar prices also have support from Tuesday when Brazil's state-owned oil company Petrobras raised gasoline prices by more than +7% to distributors.  Strength in gasoline is supportive of ethanol prices, and higher ethanol prices may prompt Brazil's sugar mills to boost ethanol produc... 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
$1,478/1,344
First Notice Date
03/01/23 (33 days)
Expiration Date
02/28/23 (32 days)

Seasonal Chart

Sugar #11 Mar '23
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Jan 24, 2023

View Chart Details
Commercials - Long / Short
404,948 (+17,762)
634,287 (+13,957)
Non-Commercials - Long / Short
270,150 (-3,516)
85,066 (-1,902)
Producers - Long / Short
275,085 (+17,248)
454,301 (+14,053)
Swap Dealers - Long / Short
109,643 (-1,874)
159,766 (-2,484)
Managed Money - Long / Short
228,739 (-2,902)
54,041 (+2,064)
Other Reportables - Long / Short
41,411 (-614)
31,025 (-3,966)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
18.92 +10.78%
on 01/09/23
21.03 -0.33%
on 01/27/23
+0.64 (+3.15%)
since 12/27/22
3-Month
17.55 +19.43%
on 10/28/22
21.18 -1.04%
on 12/23/22
+3.25 (+18.35%)
since 10/27/22
52-Week
17.19 +21.93%
on 09/19/22
21.18 -1.04%
on 12/23/22
+2.66 (+14.54%)
since 01/27/22

More Sugar #11 Quotes

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Most Recent Stories

More News
Coffee Closes Moderately Higher on Short Covering and Technical Buying

March arabica coffee (KCH 23 ) on Friday closed up +2.75 (+1.65%), and Mar ICE robusta coffee (RMH23 ) closed up +59 (+2.96%). Coffee prices Friday extended their 2-week long rally, with arabica posting...

KCH23 : 169.90s (+1.65%)
RMH23 : 2,053s (+2.96%)
^USDBRL : 5.10934 (+0.84%)
Sugar Prices Underpinned by Global Supply Woes

March NY world sugar #11 (SBH23 ) on Friday closed up +0.28 (+1.35%), and March London white sugar #5 (SWH23 ) closed up +7.40 (+1.33%). Sugar prices Friday extended this week's rally to 1-month highs....

SBH23 : 20.96s (+1.35%)
SWH23 : 562.40s (+1.33%)
Cocoa Prices Little Changed on Dollar Strength

March ICE NY cocoa (CCH23 ) on Friday closed down -2 (-0.08%), and March ICE London cocoa #7 (CAH23 ) closed up +2 (+0.10%). Cocoa prices Friday settled little changed. A stronger dollar (DXY00 ) Friday...

CCH23 : 2,627s (-0.08%)
CAH23 : 2,035s (+0.10%)
DXY00 : 101.839s (+0.19%)
Coffee Climbs on Brazilian Real Strength and Technical Buying

March arabica coffee (KCH23 ) this morning is up +1.95 (+1.17%), and Mar ICE robusta coffee (RMH23 ) is up +21 (+1.05%). Coffee prices this morning extended their 2-week long rally, with arabica posting...

KCH23 : 169.90s (+1.65%)
RMH23 : 2,053s (+2.96%)
^USDBRL : 5.10934 (+0.84%)
Friday Cotton Working Lower

Cotton prices are fading the week’s strength through Friday’s midday. The board is back down by 57 to 104 points, led by March. That has the March contract back to a net loss for the week, with a Friday...

CTH23 : 86.89s (-0.70%)
CTK23 : 87.45s (-0.65%)
CTN23 : 87.80s (-0.61%)
Cotton Futures Fading

After the gains yesterday, cotton is trading with front month weakness of 50 to 60 points so far for the final trade day of the week. Cotton pulled back for the Thursday close, but still ended higher on...

CTH23 : 86.89s (-0.70%)
CTK23 : 87.45s (-0.65%)
CTN23 : 87.80s (-0.61%)
Cotton Fades Day Session Highs, Still Closes Higher

Cotton pulled back for the Thursday close, but still ended up on the day. March had seen 222 point gains at the day’s high, but settled up by 84 points. The other nearby contracts were up by 44 to 78...

CTH23 : 86.89s (-0.70%)
CTK23 : 87.45s (-0.65%)
CTN23 : 87.80s (-0.61%)
Coffee Rises on U.S. Coffee Demand Optimism and Brazilian Real Strength

March arabica coffee (KCH23 ) on Thursday closed up +4.70 (+2.89%), and Mar ICE robusta coffee (RMH23 ) closed up +24 (+1.22%). Coffee prices Thursday posted moderate gains, with arabica climbing to a...

KCH23 : 169.90s (+1.65%)
RMH23 : 2,053s (+2.96%)
^USDBRL : 5.10934 (+0.84%)
Sugar Moves Higher on Global Supply Concerns

March NY world sugar #11 (SBH23 ) on Thursday closed up +0.57 (+2.83%), and March London white sugar #5 (SWH23 ) closed up +8.00 (+1.46%). Sugar prices Thursday closed moderately higher, with NY sugar...

SBH23 : 20.96s (+1.35%)
SWH23 : 562.40s (+1.33%)
^USDBRL : 5.10934 (+0.84%)
Cocoa Prices Climb on Demand Optimism

March ICE NY cocoa (CCH23 ) on Thursday closed up +37 (+1.43%), and March ICE London cocoa #7 (CAH23 ) closed up +29 (+1.45%). Cocoa prices Thursday climbed to 1-week highs on optimism that cocoa and chocolate...

CCH23 : 2,627s (-0.08%)
CAH23 : 2,035s (+0.10%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 21.62
2nd Resistance Point 21.33
1st Resistance Point 21.14
Last Price 20.96s
1st Support Level 20.66
2nd Support Level 20.37
3rd Support Level 20.18

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52-Week High 21.18
Last Price 20.96s
Fibonacci 61.8% 19.66
Fibonacci 50% 19.19
Fibonacci 38.2% 18.71
52-Week Low 17.19

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