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Sugar #11 Jul '23 (SBN23)
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Sugar #11 Futures Market News and Commentary

Sugar Prices Rally on Production Concerns in India

March NY world sugar #11 (SBH24) on Tuesday closed up +0.69 (+2.98%), and May London ICE white sugar #5 (SWK24) closed up +7.20 (+1.15%).

Sugar prices on Tuesday extended Monday's gains, with NY sugar posting a 2-week high and London sugar posting a 1-week high.  Sugar rallied Tuesday on positive carryover from Monday when Sucden predicted that India's 2024/25 sugar production would fall -15.3% y/y to 28 MMT.    

Reduced sugar production in India is a bullish factor.  The Indian Sugar Mills Association (ISMA) reported last Monday that India's 2023/24 sugar output during the Oct -Feb 15 period fell -2.5% y/y to 22.4 MMT.   For the full marketing year, ISMA forecasts India's 2023/24 sugar production at 33.05 MMT, down -9.7% from 36.6 MMT in 2022/23.  India's Weather Department said this year's monsoon rain (Jun-Sep) was 6% below average, the poorest monsoon rainfall in 5 years.  In October, India extended restrictions on sugar exports from Oct 31 until further notice in an... 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
07/03/23
Expiration Date
06/30/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Feb 20, 2024

View Chart Details
Commercials - Long / Short
461,062 (-32,014)
558,755 (-46,459)
Non-Commercials - Long / Short
184,174 (+49)
92,484 (+514)
Producers - Long / Short
311,569 (-35,151)
383,355 (-2,597)
Swap Dealers - Long / Short
116,075 (+22,253)
141,982 (-24,746)
Managed Money - Long / Short
112,361 (+323)
56,065 (+8,039)
Other Reportables - Long / Short
71,813 (-274)
36,419 (-7,525)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
21.81 +4.95%
on 06/29/23
26.49 -13.59%
on 06/16/23
-2.44 (-9.63%)
since 05/30/23
3-Month
21.36 +7.16%
on 03/31/23
26.83 -14.69%
on 04/27/23
+1.39 (+6.47%)
since 03/30/23
52-Week
16.18 +41.47%
on 10/28/22
26.83 -14.69%
on 04/27/23
+4.95 (+27.59%)
since 06/30/22

More Sugar #11 Quotes

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Cocoa Prices Settled Mixed as Technical Selling Undercuts NY Cocoa

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Sugar Prices Rally on Production Concerns in India

March NY world sugar #11 (SBH24 ) on Tuesday closed up +0.69 (+2.98%), and May London ICE white sugar #5 (SWK24 ) closed up +7.20 (+1.15%). Sugar prices on Tuesday extended Monday's gains, with NY sugar...

SBK24 : 22.61 (-0.31%)
SWK24 : 632.70 (+0.16%)
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KCK24 : 182.15 (-0.49%)
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Cotton Futures Locked Limit Higher

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Cocoa Prices Mixed as Overbought Conditions Weigh on NY Cocoa

May ICE NY cocoa (CCK24 ) this morning is down -113 (-1.72%), and Mar ICE London cocoa #7 (CAH24 ) is up +35 (+0.60%). Cocoa prices on Tuesday are mixed, with Mar London cocoa posting an all-time nearest-futures...

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Sugar Prices Extend Monday's Gains on Concerns Over Smaller Sugar Output in India

March NY world sugar #11 (SBH24 ) this morning is up +0.32 (+1.38%), and May London ICE white sugar #5 (SWK24 ) is up +1.30 (+0.21%). Sugar prices this morning are moderately higher, with NY sugar climbing...

SBK24 : 22.61 (-0.31%)
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Coffee Prices Rebound on Forecasts for Limited Rain in Brazil

May arabica coffee (KCK24 ) this morning is up +4.30 (+2.45%), and May ICE robusta coffee (RMK24 ) is up +70 (+2.32%). Coffee prices this morning recovered from 5-week lows and are moderately higher. ...

KCK24 : 182.15 (-0.49%)
RMK24 : 3,056 (-0.68%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 23.82
2nd Resistance Point 23.39
1st Resistance Point 23.14
Last Price 22.89s
1st Support Level 22.46
2nd Support Level 22.03
3rd Support Level 21.78

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52-Week High 26.83
Last Price 22.89s
Fibonacci 61.8% 22.76
Fibonacci 50% 21.51
Fibonacci 38.2% 20.25
52-Week Low 16.18

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