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Sugar #11 Mar '24 (SBH24)
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Sugar #11 Futures Market News and Commentary

Sugar Prices Under Pressure as Brazil Ramps Up Sugar Output

March NY world sugar #11 (SBH24) on Tuesday closed -0.21 (-0.77%), and March London ICE white sugar #5 (SWH24) closed -7.4 (-0.99%)

Sugar prices on Tuesday posted moderate losses, with NY sugar falling to a 4-week low and London sugar falling to a 1-week low.  Increased sugar production in Brazil should alleviate supply concerns and is undercutting prices.  Unica on Monday reported that Brazil Center-South sugar output in the first half of November rose +30.9% y/y to 2.19 MMT and that sugar output in the 2023/24 crop year through mid-November rose +23.1% y/y to 39.412 MMT.  Also, 49.41% of the crushed sugarcane was used for sugar production this year, an increase from 45.97% last year.

Another bearish factor for sugar prices was the action by the International Sugar Organization (ISO) on Nov 15 to raise its 2023/24 global sugar production (Oct-Sep) estimate to 179.9 MMT from a previous estimate of 174.8 MMT and cut its 2023/24 global sugar deficit to -335,000 MT from a p... 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
03/01/24 (93 days)
Expiration Date
02/29/24 (92 days)

Seasonal Chart

Sugar #11 Mar '24
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Nov 21, 2023

View Chart Details
Commercials - Long / Short
347,460 (+15,943)
614,860 (+5,818)
Non-Commercials - Long / Short
304,939 (-7,098)
82,802 (-2,969)
Producers - Long / Short
216,284 (+13,065)
433,634 (+4,017)
Swap Dealers - Long / Short
105,631 (+1,877)
155,681 (+800)
Managed Money - Long / Short
221,841 (-1,093)
42,021 (-4,511)
Other Reportables - Long / Short
83,098 (-6,005)
40,781 (+1,542)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
26.65 +1.61%
on 10/30/23
28.14 -3.77%
on 11/07/23
-0.26 (-0.95%)
since 10/27/23
3-Month
25.28 +7.12%
on 10/04/23
28.14 -3.77%
on 11/07/23
+1.32 (+5.12%)
since 08/29/23
52-Week
17.39 +55.72%
on 01/06/23
28.14 -3.77%
on 11/07/23
+9.51 (+54.13%)
since 11/28/22

More Sugar #11 Quotes

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Most Recent Stories

More News
Turnaround Tuesday for Cotton

After a wide ranged session, the cotton market closed 1 to 41 points in the black. Futures are still at a loss for the week’s move, with March down by 139 after Monday. March cotton saw a 131 point range...

CTZ23 : 78.60s (+0.01%)
CTH24 : 80.02 (+0.53%)
CTK24 : 80.66 (+0.52%)
Arabica Coffee Settles Higher on Tight Supplies and Brazil Real Strength

March arabica coffee (KCH24 ) on Tuesday closed up +4.05 (+2.40%), and Jan ICE robusta coffee (RMF24 ) closed down -7 (-0.27%). Coffee prices on Tuesday settled mixed, with Mar arabica climbing to a 1-1/2...

Sugar Prices Under Pressure as Brazil Ramps Up Sugar Output

March NY world sugar #11 (SBH24 ) on Tuesday closed -0.21 (-0.77%), and March London ICE white sugar #5 (SWH24 ) closed -7.4 (-0.99%) Sugar prices on Tuesday posted moderate losses, with NY sugar falling...

Cocoa Prices Soar on Risks to Global Cocoa Production

March ICE NY cocoa (CCH24 ) on Tuesday closed +71 (+1.72%), and Dec ICE London cocoa #7 (CAZ23 ) closed +38 (+1.08%). Cocoa prices on Tuesday closed moderately higher, with Mar NY cocoa posting a contract...

Cotton Trading Double Digits Higher

Midday cotton action has the board 20 to 54 points in the black. March contracts are 60 points under the session high but 70 points off their daily low. The last NASS Crop Progress report for this year...

CTZ23 : 78.60s (+0.01%)
CTH24 : 80.02 (+0.53%)
CTK24 : 80.66 (+0.52%)
AM Bounce for Cotton Market

Cotton is working near the highs from overnight action with 15 to 23 point recovery into Tuesday’s day trade. Futures posted losses of 144 to 180 points on Monday to start the week off on a lower note....

CTZ23 : 78.60s (+0.01%)
CTH24 : 80.02 (+0.53%)
CTK24 : 80.66 (+0.52%)
Cotton Settles Weaker on Monday

Cotton posted losses of 144 to 180 points on Monday to start the week off on a lower note. Crude oil was down $0.52/barrel, with the US dollar index 19 points lower. The last NASS Crop Progress report...

CTZ23 : 78.60s (+0.01%)
CTH24 : 80.02 (+0.53%)
CTK24 : 80.66 (+0.52%)
Crop Progress

Crop Progress - 2023-11-27

ZSF24 : 1348-0 (+0.11%)
ZSPAUS.CM : 12.8913 (+0.12%)
ZSBAUS.CM : -0.5886 (+0.15%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSF24 : 4,392s (-0.72%)
XTF24 : 5,036s (-0.63%)
ZCH24 : 473-4 (unch)
ZCPAUS.CM : 4.2666 (-0.16%)
ZCBAUS.CM : -0.2416 (+1.75%)
XVF24 : 2,500s (-0.68%)
XEF24 : 68.11 (-0.15%)
Coffee Settles Higher on Tight ICE Coffee Inventories

March arabica coffee (KCH24 ) on Monday closed up +0.90 (+0.54%), and Jan ICE robusta coffee (RMF24 ) closed up +1 (+0.04%). Coffee prices on Monday closed moderately higher. Nearest-futures arabica coffee...

Sugar Prices Recover Early Losses as Dollar Weakness Sparks Short Covering

March NY world sugar #11 (SBH24 ) on Monday closed +0.22 (+0.82%), and March London ICE white sugar #5 (SWH24 ) closed +7.60 (+1.03%). Sugar prices on Monday recovered from early losses and closed moderately...

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 27.68
2nd Resistance Point 27.46
1st Resistance Point 27.23
Last Price 27.07
1st Support Level 26.78
2nd Support Level 26.56
3rd Support Level 26.33

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52-Week High 28.14
Last Price 27.07
Fibonacci 61.8% 24.03
Fibonacci 50% 22.76
Fibonacci 38.2% 21.50
52-Week Low 17.39

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