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Sugar #16 May '24 (SDK24)

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Sugar #16 Futures Market News and Commentary

Sugar Prices Rally with the Brazilian Real

March NY world sugar #11 (SBH26) today is up +0.08 (+0.56%), and May London ICE white sugar #5 (SWK26) is up +0.20 (+0.05%).

Sugar prices are moving higher today, with NY sugar posting a 2.5-week high and London sugar posting a 1.5-week high.  Strength in the Brazilian real (^USDBRL) is bullish for sugar prices.  The real jumped to a 1.75-year high against the dollar today, discouraging export sales from Brazil's sugar producers.

Sugar prices also have positive carryover support from last Friday after the US Supreme Court struck down President Trump's tariffs, potentially allowing Brazil to export more sugar to the US, which would shrink global supplies.  

An excessive short position by funds in NY sugar futures could add fuel to a short-covering rally.  Last Friday's weekly Commitment of Traders (COT) report showed funds boosted their short position in NY sugar futures and options by 14,381 to a record 265,324 net short positions (data from 2006).

Signs of l... 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
$1,798/1,635
First Notice Date
04/09/24
Expiration Date
04/08/24 (expired)

Seasonal Chart

Sugar #16 May '24
Average Price Chart for 5 Prior May 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
38.65 +4.79%
on 03/20/24
41.00 -1.22%
on 04/04/24
+1.50 (+3.85%)
since 03/08/24
3-Month
38.65 +4.79%
on 03/20/24
42.51 -4.73%
on 01/29/24
+1.44 (+3.69%)
since 01/08/24
52-Week
38.00 +6.58%
on 12/21/23
45.15 -10.30%
on 11/07/23
+1.70 (+4.38%)
since 04/06/23

More Sugar #16 Quotes

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Most Recent Stories

More News
Sugar Prices Rally with the Brazilian Real

March NY world sugar #11 (SBH26 ) today is up +0.08 (+0.56%), and May London ICE white sugar #5 (SWK26 ) is up +0.20 (+0.05%). Sugar prices are moving higher today, with NY sugar posting a 2.5-week high...

SBK26 : 13.94 (+0.50%)
^USDBRL : 5.16320 (-0.28%)
SWK26 : 406.80 (+0.05%)
Ample Supplies and Weak Demand Undercut Cocoa Prices

May ICE NY cocoa (CCK26 ) today is down -69 (-2.17%), and March ICE London cocoa #7 (CAH26 ) is down -80 (-3.54%). Cocoa prices are under pressure today but remain above last week's significant lows. ...

CCK26 : 3,137 (-1.29%)
CAK26 : 2,203s (-3.08%)
Improved Brazil Coffee Crop Prospects Weigh on Prices

May arabica coffee (KCK26 ) today is down -8.10 (-2.84%), and May ICE robusta coffee (RMK26 ) is down -37 (-1.03%). Coffee prices are falling sharply today, with robusta tumbling to a 6.5-month low. Coffee...

RMK26 : 3,561 (-0.84%)
KCK26 : 277.75 (-2.78%)
Cotton Starting a New Week with Mixed Action

Cotton prices are up 16 in the thin March contract, but lower in the rest on Tuesday morning, Futures posted a rally or 110 to 150 points across most contracts on Friday, as March closed out the week with...

CTK26 : 65.16 (-0.72%)
CTH26 : 63.08 (+0.08%)
CTZ24 : 71.40s (-1.37%)
Cotton Rallies to Round Out the Week

Cotton futures posted a rally or 110 to 150 points across most contracts on Friday, as March closed out the week with a 92 point gain. Crude oil futures was down 4 cents per barrel on the day at $66.36....

CTK26 : 65.16 (-0.72%)
CTH26 : 63.08 (+0.08%)
CTZ24 : 71.40s (-1.37%)
Supreme Court's US Tariff Rebuttal Pushes Sugar Prices Higher

March NY world sugar #11 (SBH26 ) on Friday closed up +0.23 (+1.63%), and May London ICE white sugar #5 (SWK26 ) closed up +3.30 (+0.82%). Sugar prices rallied sharply on Friday, with NY sugar posting...

$DXY : 97.80 (-0.13%)
SBK26 : 13.94 (+0.50%)
SWK26 : 406.80 (+0.05%)
Cocoa Prices Settle Higher as Dollar Weakness Induces Short Covering

March ICE NY cocoa (CCH26 ) on Friday closed up +112 (+3.77%), and March ICE London cocoa #7 (CAH26 ) closed up +133 (+6.25%). Cocoa prices rallied sharply on Friday as dollar weakness ($DXY ) spurred...

$DXY : 97.80 (-0.13%)
CCK26 : 3,137 (-1.29%)
CAK26 : 2,203s (-3.08%)
Coffee Prices Settle Mixed as They Consolidate Recent Losses

May arabica coffee (KCK26 ) on Friday closed up +0.30 (+0.11%), and May ICE robusta coffee (RMK26 ) closed down -29 (-0.80%). Coffee prices settled mixed on Friday, consolidating above Thursday's significant...

$DXY : 97.80 (-0.13%)
RMK26 : 3,561 (-0.84%)
KCK26 : 277.75 (-2.78%)
Cotton Rallying on Friday

Cotton prices are up 98 to 150 points at Friday’s midday. Crude oil futures are down 8 cents per barrel on the day at $66.32. The US dollar index is down $0.175 to $97.695. USDA’s Export Sales report...

CTK26 : 65.16 (-0.72%)
CTH26 : 63.08 (+0.08%)
CTZ24 : 71.40s (-1.37%)
Sugar Prices Rebound as the Supreme Court Strikes Down President Trump’s Tariffs

March NY world sugar #11 (SBH26 ) today is up +0.19 (+1.35%), and May London ICE white sugar #5 (SWK26 ) closed is up +1.30 (+0.32%). Sugar prices are climbing today, with NY sugar posting a 1.5-week high....

SBK26 : 13.94 (+0.50%)
SWK26 : 406.80 (+0.05%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 40.50
2nd Resistance Point 40.50
1st Resistance Point 40.50
Last Price 40.50s
1st Support Level 40.50
2nd Support Level 40.50
3rd Support Level 40.50

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52-Week High 45.15
Fibonacci 61.8% 42.42
Fibonacci 50% 41.58
Fibonacci 38.2% 40.73
Last Price 40.50s
52-Week Low 38.00

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