Sugar #11 Mar '24 (SBH24)
Sugar #11 Futures Market News and Commentary
May NY world sugar #11 (SBK26) on Wednesday closed up +0.14 (+1.04%), and Aug London ICE white sugar #5 (SWQ26) closed up +1.70 (+0.40%).
Sugar prices settled higher on Wednesday, with London sugar posting a 1.5-week high. Short covering emerged in sugar futures on Wednesday as crude oil prices (CLM26) jumped more than +3%, which boosts 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.
The outlook for smaller Brazilian sugar output is supportive for prices. The USDA on Tuesday forecast Brazil's 2026/27 sugar production at 42.5 MMT, down -3% y/y, citing millers crushing more cane for ethanol than for sugar.
Signs of a smaller global sugar surplus are also supportive for prices. Covrig Analytics on Tuesday cut its 2026/27 global sugar surplus estimate to 800,000 MT from 1.4 MMT previously. On Monday, sugar trader Czarnikow cut its 2026/27 global sugar su... Read more
Barchart · 1 hour ago
May NY world sugar #11 (SBK26 ) on Wednesday closed up +0.14 (+1.04%), and Aug London ICE white sugar #5 (SWQ26 ) closed up +1.70 (+0.40%). Sugar prices...
Barchart · 1 hour ago
May ICE NY cocoa (CCK26 ) on Wednesday closed up +119 (+3.70%), and May ICE London cocoa #7 (CAK26 ) closed up +92 (+3.80%). Cocoa prices settled sharply...
Barchart · 1 hour ago
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Barchart · Wed Apr 22, 11:25AM CDT
May NY world sugar #11 (SBK26 ) today is up +0.07 (+0.52%), and Aug London ICE white sugar #5 (SWQ26 ) is up +1.20 (+0.28%). Sugar prices are moving higher...
Barchart · Wed Apr 22, 11:07AM CDT
May ICE NY cocoa (CCK26 ) today is up +131 (+4.07%), and May ICE London cocoa #7 (CAK26 ) is up +85 (+3.51%). Cocoa prices are sharply higher today on...
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