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Sugar #11 May '24 (SBK24)

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Sugar #11 Futures Market News and Commentary

Sugar Closes Higher as a Weak Dollar Inspires Short Covering

July NY world sugar #11 (SBN24) on Friday closed up +0.15 (+0.82%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24) closed up +6.20 (+1.15%).

Sugar prices on Friday recovered from 1-week lows and posted moderate gains as a weaker dollar (DXY00) sparked short covering in sugar futures.  

Sugar prices have tumbled over the past seven weeks as ramped-up sugar production in Brazil improved the global supply outlook.  Last Thursday, NY sugar fell to a 1-1/2 year nearest-futures low, and London sugar dropped to a 1-1/4 year low on the outlook for ample global sugar supplies.  Unica reported last Wednesday that Brazil's sugar production in the second half of April jumped +84.0% y/y to 1,843 MMT, and for the 2024/25 marketing year (Apr-Mar) sugar production rose +65.9% y/y to 2.558 MMT.  Brazil's sugar mills have boosted their cane crushing for sugar at the expense of ethanol production as they crushed 46.96% of sugarcane this year for sugar, up from 41.42% of cane used las... 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 12:00p.m.) CST
Exchange
ICE/US
Point Value
$1,120
Margin/Maintenance
$1,663/1,512
First Notice Date
05/01/24
Expiration Date
04/30/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 21, 2024

View Chart Details
Commercials - Long / Short
470,669 (+31,046)
464,046 (+12,964)
Non-Commercials - Long / Short
203,079 (-6,712)
194,658 (+10,758)
Producers - Long / Short
329,580 (+28,613)
322,774 (+14,760)
Swap Dealers - Long / Short
108,251 (+1,626)
108,434 (-2,603)
Managed Money - Long / Short
132,226 (-3,341)
162,946 (+11,867)
Other Reportables - Long / Short
70,853 (-3,371)
31,712 (-1,109)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
19.17 +2.82%
on 04/17/24
22.91 -13.97%
on 04/02/24
-2.81 (-12.48%)
since 03/28/24
3-Month
19.17 +2.82%
on 04/17/24
23.62 -16.55%
on 02/09/24
-3.36 (-14.56%)
since 01/30/24
52-Week
19.17 +2.82%
on 04/17/24
26.76 -26.35%
on 11/07/23
-4.01 (-16.91%)
since 04/28/23

More Sugar #11 Quotes

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Most Recent Stories

More News
Global Sugar Production Rises, But Stocks and Exports Face Headwinds

Global sugar production is expected to rise slightly in the 2023/24 marketing year, but stocks and exports are forecast to decline, according to the latest sugar report released by the USDA.

How the active U.S. Tornado Season implies that El Niño may be holding on by a thread

Jim's exploration of previous growing seasons and their correlations with El Niño/La Niña (vis-à-vis tornado activity)

ZWN24 : 697-2s (-0.11%)
KEN24 : 721-2s (+1.48%)
WEAT : 6.42 (+0.16%)
ZCU24 : 474-4s (+0.26%)
CORN : 20.72 (+0.44%)
ZSX24 : 1219-4s (+0.29%)
SOYB : 25.86 (+0.47%)
TAGS : 28.83 (+0.52%)
DBA : 24.67 (+0.16%)
CCN24 : 8,294s (+2.28%)
SBV24 : 18.39s (+0.66%)
CANE : 11.41 (+0.91%)
Cotton Bulls Have Good Week, Up 6.1%

Cotton prices retreated ahead of the holiday weekend, down 9 to 120 points in the actively traded contract months. Nearby July was still up 463 points for the week, thanks to a limit up move at midweek....

CTN24 : 80.52s (-1.47%)
CTV24 : 80.19s (+0.72%)
CTZ24 : 78.01s (-0.78%)
Cold Storage

Cold Storage - 2024-05-24

GFQ24 : 260.225s (-0.47%)
LCM24 : 181.600s (-0.71%)
LEQ24 : 181.125s (+0.03%)
LHM24 : 101.675s (+1.98%)
HEN24 : 97.225s (-0.26%)
YKU24 : 18,225s (-0.30%)
BDN24 : 313.8500s (-1.31%)
OJN24 : 476.50s (+2.14%)
Sugar Closes Higher as a Weak Dollar Inspires Short Covering

July NY world sugar #11 (SBN24 ) on Friday closed up +0.15 (+0.82%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24 ) closed up +6.20 (+1.15%). Sugar prices on Friday recovered from 1-week lows and...

SBN24 : 18.41s (+0.82%)
SWQ24 : 545.90s (unch)
DXY00 : 104.692 (-0.03%)
Cocoa Prices Supported by West African Crop Concerns

July ICE NY cocoa (CCN24 ) on Friday closed up +185 (+2.28%), and July ICE London cocoa #7 (CAN24 ) closed up +167 (+2.51%). Cocoa prices Friday added to Thursday's sharp gains and posted 1-1/2 week highs....

CCN24 : 8,294s (+2.28%)
CAU24 : 6,385s (unch)
Coffee Prices Post Moderate Gains on Crop Concerns in Brazil and Vietnam

July arabica coffee (KCN24 ) on Friday closed up +2.60 (+1.21%), and July ICE robusta coffee (RMN24 ) closed up +73 (+1.91%). Coffee prices on Friday settled moderately higher but remained below Thursday's...

KCN24 : 218.25s (+1.21%)
RMN24 : 3,892s (unch)
Cotton Slipping Lower on Friday

Cotton prices are down 55 to 140 points on Friday’s midday. Cotton limits are back to 400 points, with the July contract back in the 80 cent level. The outside market factors are supportive this go...

CTN24 : 80.52s (-1.47%)
CTV24 : 80.19s (+0.72%)
CTZ24 : 78.01s (-0.78%)
Dollar Weakness Sparks Short Covering in Sugar Futures

July NY world sugar #11 (SBN24 ) today is up +0.19 (+1.04%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24 ) is up +4.90 (+0.91%). Sugar prices today recovered from 1-week lows and moved moderately...

SBN24 : 18.41s (+0.82%)
SWQ24 : 545.90s (unch)
Cocoa Prices Climb on Concerns About West African Crop Production

July ICE NY cocoa (CCN24 ) today is up +148 (+1.83%), and July ICE London cocoa #7 (CAN24 ) is up +141 (+2.12%). Cocoa prices today extended Thursday's sharp rally to new 1-1/2 week highs. Since posting...

CCN24 : 8,294s (+2.28%)
CAU24 : 6,385s (unch)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 20.75
2nd Resistance Point 20.49
1st Resistance Point 20.10
Last Price 19.71s
1st Support Level 19.45
2nd Support Level 19.19
3rd Support Level 18.80

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52-Week High 26.76
Fibonacci 61.8% 23.86
Fibonacci 50% 22.97
Fibonacci 38.2% 22.07
Last Price 19.71s
52-Week Low 19.17

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