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Sugar #11 May '23 (SBK23)
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Sugar #11 Futures Market News and Commentary

Brazil Harvest Pressure Weighs on Sugar Prices

July NY world sugar #11 (SBN23) on Wednesday closed down -0.08 (-0.33%), and Aug London white sugar #5 (SWQ23) closed down -1.70 (-0.25%).

Sugar prices Wednesday posted modest losses but remained above Tuesday's 6-week lows.  The ongoing sugar harvest in Brazil has been weighing on prices over the past two weeks.  On May 18, Unica reported Brazil's 2023/24 sugar production through mid-May was up +48% y/y at 4.063 MMT and that the percentage of sugarcane crushed for sugar rose to 45.6% from 38.5% last year.  In addition, Conab on Apr 26 forecasted that Brazil's 2023/24 sugar output would climb +4.7% y/y to 38.8 MMT, the second most ever, as crops recover from the previous season's adverse weather.

In April, sugar prices rallied to 11-year highs on the outlook for tighter global supplies.  On Apr 26, the Indian Sugar Mills Association (ISMA) cut its 2022/23 India sugar production estimate to 32.8 MMT from a Jan estimate of 34 MMT.  India's Food Secretary said India might n... 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
05/01/23
Expiration Date
04/28/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 30, 2023

View Chart Details
Commercials - Long / Short
386,730 (+580)
680,462 (-29,011)
Non-Commercials - Long / Short
332,464 (-17,780)
82,077 (+5,643)
Producers - Long / Short
248,968 (+531)
433,026 (-28,885)
Swap Dealers - Long / Short
92,823 (+627)
202,497 (+452)
Managed Money - Long / Short
258,402 (-16,035)
50,033 (+3,024)
Other Reportables - Long / Short
74,062 (-1,745)
32,044 (+2,619)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
21.05 +28.22%
on 03/29/23
27.41 -1.53%
on 04/27/23
+5.68 (+26.65%)
since 03/28/23
3-Month
19.43 +38.91%
on 02/07/23
27.41 -1.53%
on 04/27/23
+7.38 (+37.63%)
since 01/27/23
52-Week
16.64 +62.20%
on 10/28/22
27.41 -1.53%
on 04/27/23
+8.23 (+43.87%)
since 04/28/22

More Sugar #11 Quotes

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Most Recent Stories

More News
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Cotton worked lower on the midweek session, but closed 40 points to a penny off the session lows. July went home at a 33 point loss, and is now down a net 104 points for the week’s move. July was a 3.78...

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Weather Concerns Spark Cocoa Buying

July ICE NY cocoa (CCN23 ) on Wednesday closed up +58 (+1.90%), and July ICE London cocoa #7 (CAK23 ) closed up +34 (+1.44%). Cocoa prices Wednesday posted moderate gains, with NY cocoa posting a contract...

CCU23 : 3,091s (+1.44%)
CAU23 : 2,368s (+1.46%)
Brazil Harvest Pressure Weighs on Sugar Prices

July NY world sugar #11 (SBN23 ) on Wednesday closed down -0.08 (-0.33%), and Aug London white sugar #5 (SWQ23 ) closed down -1.70 (-0.25%). Sugar prices Wednesday posted modest losses but remained above...

SBN23 : 24.50s (-0.33%)
SWQ23 : 669.20s (-0.25%)
Coffee Settles Higher on Tight Supplies and Increased Robusta Demand from Roasters

July arabica coffee (KCN23 ) on Wednesday closed up +2.80 (+1.53%), and July ICE robusta coffee (RMN23 ) closed up +60 (+2.30%). Coffee prices Wednesday posted moderate gains, with robusta climbing to...

KCU23 : 181.70s (+1.20%)
RMU23 : 2,636s (+2.05%)
DXY00 : 103.951 (-0.14%)
Cotton Marching Lower through Midweek Trade

Cotton futures continue to push lower on Wednesday, with the front months working 62 to 76 points in the red. Prices were also weaker overnight, bounced strongly near 8 AM, but have been fading since....

CTN23 : 85.08 (+0.08%)
CTV23 : 83.62s (+0.48%)
CTZ23 : 81.44 (+0.26%)
Robusta Coffee Rallies to a 2-Week High on Increased Demand from Roasters

July arabica coffee (KCN23 ) this morning is up +2.05 (+1.12%), and July ICE robusta coffee (RMN23 ) is up +57 (+1.87%). Coffee prices this morning are moderately higher, with robusta posting to a 2-week...

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RMU23 : 2,636s (+2.05%)
DXY00 : 103.951 (-0.14%)
Midweek Cotton Red in AM

Cotton is trading with a mixed AM of 20-80 points red for the active months and 20-80 points higher for the lighter traded contracts. Cotton prices ended the Tuesday session up by 18 to 55 points after...

CTN23 : 85.08 (+0.08%)
CTV23 : 83.62s (+0.48%)
CTZ23 : 81.44 (+0.26%)
June WASDE Report: What to Expect? | Doug Christie | Agricultural Commodities Focus

The June WASDE report is going to be released this week. Are we in for any surprise? The macroeconomic picture may be turning a bit more optimistic but probably not significantly enough at this stage to...

ZSN23 : 1355-2 (-0.40%)
ZCN23 : 597-6 (-1.08%)
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Tuesday’s Cotton Market Closed with Gains

Cotton prices ended the session up by 18 to 55 points after having spent time on both sides of UNCH. The Dec contract stayed inside Monday’s range. The Seam reported 5,238 bales of cotton was sold on...

CTN23 : 85.08 (+0.08%)
CTV23 : 83.62s (+0.48%)
CTZ23 : 81.44 (+0.26%)
Cocoa Moves Lower on Dollar Strength

July ICE NY cocoa (CCN23 ) on Tuesday closed down -11 (-0.36%), and July ICE London cocoa #7 (CAK23 ) closed down -4 (-0.17%). Cocoa prices Tuesday gave up early gains and closed slightly lower as a stronger...

CCU23 : 3,091s (+1.44%)
CAU23 : 2,368s (+1.46%)
DXY00 : 103.951 (-0.14%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 27.74
2nd Resistance Point 27.40
1st Resistance Point 27.19
Last Price 26.99s
1st Support Level 26.64
2nd Support Level 26.30
3rd Support Level 26.09

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52-Week High 27.41
Last Price 26.99s
Fibonacci 61.8% 23.30
Fibonacci 50% 22.02
Fibonacci 38.2% 20.75
52-Week Low 16.64

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