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Sugar #11 Oct '21 (SBV21)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Close at a 1-Week Low on a Slump in the Brazilan Real and Weak Crude Prices

May NY world sugar #11 (SBK21) on Friday closed down -0.39 (-2.32%), and May London white sugar #5 (SWK21) closed down -12.90 (-2.76%).

Sugar prices on Friday tumbled to 1-week lows as weakness in crude prices and a slump in the Brazilian real against the dollar sparked long liquidation in sugar futures. Crude oil prices on Friday fell more than -2%, which weighed on ethanol prices, while the Brazilian real on Friday dropped -1.58% to a 3-1/2 month low against the dollar. The weaker real gives incentive for export selling from Brazil's sugar producers.

Sugar prices were undercut Thursday when Green Pool Commodity Specialists projected a 2021/22 global sugar surplus estimate of +4.1 MMT, wider than the projected 2020/21 global sugar surplus of +500,000 MT and the largest surplus in 4 years.

Sugar prices are consolidating below Tuesday's contract and 3-3/4 year nearest-futures highs. Concern about smaller global sugar supplies has fueled rec... 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
$1,108/1,008
First Notice Date
10/01/21 (214 days)
Expiration Date
09/30/21 (213 days)

Seasonal Chart

Sugar #11 Oct '21
Average Price Chart for 5 Prior Oct Contracts

Commitment of Traders Positions as of Feb 23, 2021

View Chart Details
Commercials - Long / Short
536,776 (-55,058)
849,254 (-36,797)
Non-Commercials - Long / Short
282,375 (+122)
44,439 (-10,874)
Producers - Long / Short
318,542 (-52,949)
646,336 (-30,757)
Swap Dealers - Long / Short
174,437 (-8,770)
159,121 (-12,701)
Managed Money - Long / Short
242,108 (+9,104)
25,554 (-12,621)
Other Reportables - Long / Short
40,267 (-8,982)
18,885 (+1,747)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
14.50 +8.55%
on 02/04/21
16.27 -3.26%
on 02/22/21
+1.10 (+7.51%)
since 02/01/21
3-Month
13.23 +18.97%
on 12/14/20
16.27 -3.26%
on 02/22/21
+2.31 (+17.20%)
since 12/01/20
52-Week
10.82 +45.47%
on 04/28/20
16.27 -3.26%
on 02/22/21
+2.21 (+16.33%)
since 02/28/20

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 16.23
2nd Resistance Point 16.09
1st Resistance Point 15.85
Last Price 15.70
1st Support Level 15.47
2nd Support Level 15.33
3rd Support Level 15.09

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52-Week High 16.27
Last Price 15.70
Fibonacci 61.8% 14.19
Fibonacci 50% 13.55
Fibonacci 38.2% 12.90
52-Week Low 10.82

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Barchart Futures Commentary

Barchart Futures is a twice weekly newsletter that features a selection of the latest and best commodities commentary appearing on Barchart.com. Delivered every Wednesday and Friday morning to your inbox.

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