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Sugar #11 Mar '23 (SBH23)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Fall on Ramped-Up Brazil Sugar Production

March NY world sugar #11 (SBH23) on Friday closed down -0.22 (-1.13%), and March London white sugar #5 (SWH23) closed down -9.40 (-1.74%).

Sugar prices on Friday posted moderate losses, with NY sugar falling to a 2-week low and London sugar falling to a 1-week low.  An increase in sugar output from Brazil weighed on prices Friday after Unica reported that Brazil's Center-South sugar output in the 2022/23 marketing year through mid-November rose +0.3% y/y at 31.966 MMT.

Sugar prices Friday were also undercut from a more than -1% fall in crude oil prices (CLF23).  Weaker crude prices undercut ethanol prices and may prompt Brazil's sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.

A bearish factor for sugar was Monday's forecast from Czarnikow that Brazil's Center-South mills would produce 34.7 million metric tons of sugar in 2023-24 (Apr/Mar), up +7% y/y and the highest in three years.

Sugar pric... 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 (93 days)
Expiration Date
02/28/23 (92 days)

Seasonal Chart

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

Commitment of Traders Positions as of Nov 15, 2022

View Chart Details
Commercials - Long / Short
391,034 (-9,998)
592,813 (+69,220)
Non-Commercials - Long / Short
251,928 (+56,997)
95,734 (-9,015)
Producers - Long / Short
239,601 (-10,869)
436,635 (+55,690)
Swap Dealers - Long / Short
127,661 (-1,940)
132,406 (+10,719)
Managed Money - Long / Short
220,023 (+66,684)
54,253 (-20,958)
Other Reportables - Long / Short
31,905 (-9,687)
41,481 (+11,943)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
17.55 +10.14%
on 10/28/22
20.48 -5.62%
on 11/16/22
+1.22 (+6.74%)
since 10/25/22
3-Month
17.19 +12.45%
on 09/19/22
20.48 -5.62%
on 11/16/22
+1.55 (+8.72%)
since 08/25/22
52-Week
17.19 +12.45%
on 09/19/22
20.63 -6.30%
on 04/13/22
+0.53 (+2.82%)
since 11/24/21

More Sugar #11 Quotes

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Sugar Prices Fall on Ramped-Up Brazil Sugar Production

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SBH23 : 19.33s (-1.13%)
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Seasonal Trend Alert: Cotton

This seasonal trend has played out for 14 of the last 15 years, will it play out again this year?

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 20.23
2nd Resistance Point 20.03
1st Resistance Point 19.68
Last Price 19.33s
1st Support Level 19.13
2nd Support Level 18.93
3rd Support Level 18.58

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52-Week High 20.63
Last Price 19.33s
Fibonacci 61.8% 19.32
Fibonacci 50% 18.91
Fibonacci 38.2% 18.50
52-Week Low 17.19

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