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Sugar #16 Jan '24 (SDF24)

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Sugar #16 Futures Market News and Commentary

The Outlook for a Global Sugar Surplus Weighs on Prices

May NY world sugar #11 (SBK26) on Thursday closed down -0.01 (-0.07%), and May London ICE white sugar #5 (SWK26) closed down -2.80 (-0.68%).

Sugar prices settled lower on Thursday, with NY sugar falling to a 2-week low.  The outlook for the global sugar surplus to persist is weighing on prices and limiting rallies.

Sugar losses were limited on Thursday amid soaring crude oil prices.  WTI crude oil (CLJ26) surged more than +8% to a 19.5-month high on Thursday, which benefits ethanol prices and could prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.

On February 12, sugar prices plunged to 5.25-year nearest-futures lows on concern that a global sugar surplus will persist.  On February 11, analysts from sugar trader Czarnikow said they expect a global sugar surplus of 3.4 MMT in the 2026/27 crop year, following an 8.3 MMT surplus in 2025/26.   Also, Green Pool Commodity Specialists said... Read more

Contract Specifications

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Contract
Sugar #16
Contract Size
112,000 pounds (50 long tonnes)
Tick Size
0.01 cents per pound ($11.20 per contract)
Trading Hours
8:00a.m. - 12:00p.m. (Settles 12:00p.m.) CST
Exchange
ICE/US
Point Value
$1,120
Margin/Maintenance
$948/862
First Notice Date
12/11/23
Expiration Date
12/08/23 (expired)

Seasonal Chart

Sugar #16 Jan '24
Average Price Chart for 5 Prior Jan Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
39.00 unch
on 12/08/23
45.75 -14.75%
on 11/16/23
-6.28 (-13.87%)
since 11/08/23
3-Month
39.00 unch
on 12/08/23
45.75 -14.75%
on 11/16/23
-3.50 (-8.24%)
since 09/08/23
52-Week
34.93 +11.65%
on 01/09/23
45.75 -14.75%
on 11/16/23
+3.33 (+9.34%)
since 12/08/22

More Sugar #16 Quotes

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Most Recent Stories

More News
Cotton Closes Mixed on Thursday

Cotton futures rounded out Thursday with missed trade as most contracts were down 18 to 4 points higher and soon to expire March up 87 points. Thursday. Crude oil was up $4.23 on the day to $78.89. The...

CTK26 : 64.33 (+0.45%)
CTH26 : 63.03s (+1.40%)
CTZ24 : 71.40s (-1.37%)
The Outlook for a Global Sugar Surplus Weighs on Prices

May NY world sugar #11 (SBK26 ) on Thursday closed down -0.01 (-0.07%), and May London ICE white sugar #5 (SWK26 ) closed down -2.80 (-0.68%). Sugar prices settled lower on Thursday, with NY sugar falling...

CLJ26 : 80.40 (-0.75%)
SBK26 : 13.72s (-0.07%)
SWK26 : 406.50s (-0.68%)
Cocoa Prices Consolidate Recent Losses

May ICE NY cocoa (CCK26 ) on Thursday closed down -5 (-0.16%), and May ICE London cocoa #7 (CAK26 ) closed up +33 (+1.52%). Cocoa prices settled mixed on Thursday, consolidating above Monday's significant...

$DXY : 99.32 (+0.56%)
CCK26 : 3,055s (-0.16%)
CAK26 : 2,206s (+1.52%)
Supply Concerns Lift Coffee Prices

May arabica coffee (KCK26 ) on Thursday closed up +2.55 (+0.89%), and May ICE robusta coffee (RMK26 ) closed up +17 (+0.46%). Coffee prices settled higher on Thursday, with arabica climbing to a 2-week...

$DXY : 99.32 (+0.56%)
RMK26 : 3,751s (+0.46%)
KCK26 : 288.80s (+0.89%)
Cotton Falling lower on Thursday

Cotton futures are down 15 to 28 points across most contracts on Thursday. Crude oil is up $4.90 on the day to $79.56. The US dollar index is back up $0.510 at $99.240. USDA Export Sales data from this...

CTK26 : 64.33 (+0.45%)
CTH26 : 63.03s (+1.40%)
CTZ24 : 71.40s (-1.37%)
Soaring Crude Oil Prices Push Sugar Higher

May NY world sugar #11 (SBK26 ) today is up +0.08 (+0.58%), and May London ICE white sugar #5 (SWK26 ) is up +0.60 (+0.15%). Sugar prices recovered from early losses today and pushed higher, supported...

CLJ26 : 80.40 (-0.75%)
SBK26 : 13.72s (-0.07%)
SWK26 : 406.50s (-0.68%)
Dollar Strength Undercuts Cocoa Prices

May ICE NY cocoa (CCK26 ) today is down -11 (-0.36%), and May ICE London cocoa #7 (CAK26 ) is up +30 (+1.38%). Cocoa prices are mixed today. Dollar strength ($DXY ) today is weighing on most commodity...

$DXY : 99.32 (+0.56%)
CCK26 : 3,055s (-0.16%)
CAK26 : 2,206s (+1.52%)
Coffee Prices Supported by Supply Concerns

May arabica coffee (KCK26 ) today is up +1.40 (+0.49%), and May ICE robusta coffee (RMK26 ) is up +13 (+0.35%). Coffee prices are moving higher today on supply concerns. The war in Iran has halted shipping...

$DXY : 99.32 (+0.56%)
RMK26 : 3,751s (+0.46%)
KCK26 : 288.80s (+0.89%)
Cotton Steady to Kick Off Thursday Trade

Cotton price action is holding near unchanged on Thursday morning. Futures were up 10 to 15 points in the front months on Wednesday. The outside markets provided some support, as crude oil was up $1.54...

CTK26 : 64.33 (+0.45%)
CTH26 : 63.03s (+1.40%)
CTZ24 : 71.40s (-1.37%)
Cotton Holds on to Close Wednesday with Gains

Cotton futures were up 10 to 15 points in the front months on Wednesday. The outside markets provided some support, as crude oil was up $1.54 on the day to $76.10. The US dollar index was back down $0.231...

CTK26 : 64.33 (+0.45%)
CTH26 : 63.03s (+1.40%)
CTZ24 : 71.40s (-1.37%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 39.00
2nd Resistance Point 39.00
1st Resistance Point 39.00
Last Price 39.00s
1st Support Level 39.00
2nd Support Level 39.00
3rd Support Level 39.00

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52-Week High 45.75
Fibonacci 61.8% 41.62
Fibonacci 50% 40.34
Fibonacci 38.2% 39.06
Last Price 39.00s
52-Week Low 34.93

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