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Sugar #11 Jul '23 (SBN23)
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Sugar #11 Futures Market News and Commentary

Sugar Prices Surge on Global Weather Concerns

July NY world sugar #11 (SBN23) on Thursday closed up +0.98 (+4.00%), and Aug London white sugar #5 (SWQ23) closed up +19.60 (+2.93%).

Sugar prices Thursday rallied sharply, with NY sugar posting a 1-week high.  Fund buying pushed sugar prices sharply higher Thursday after the  U.S. Climate Prediction Center said that sea surface temperatures across the equatorial Pacific Ocean had risen 0.5 degrees Celsius above normal, and wind patterns have changed to the point where El Nino criteria have been met.  An El Nino weather pattern typically brings heavy rains to Brazil and drought to India, negatively impacting sugar crop production.  The last time El Nino brought dryness to sugar crops in Asia was in 2015 and 2016, which caused prices to soar.

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... 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
07/03/23 (25 days)
Expiration Date
06/30/23 (22 days)

Seasonal Chart

Sugar #11 Jul '23
Average Price Chart for 5 Prior Jul 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
24.23 +5.16%
on 06/06/23
26.74 -4.71%
on 05/11/23
-0.61 (-2.34%)
since 05/08/23
3-Month
19.87 +28.23%
on 03/16/23
26.83 -5.03%
on 04/27/23
+5.17 (+25.46%)
since 03/08/23
52-Week
16.18 +57.48%
on 10/28/22
26.83 -5.03%
on 04/27/23
+6.79 (+36.33%)
since 06/08/22

More Sugar #11 Quotes

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Most Recent Stories

More News
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With the exception of July’s 70 point loss, cotton futures settled higher ahead of the USDA report day. Dec contracts were up by 40 points at the close, tightening the inverse to 2.68 cents. So far through...

CTN23 : 84.31s (-0.82%)
CTV23 : 83.95s (+0.39%)
CTZ23 : 81.63s (+0.49%)
Dollar Weakness and El Nino Spark Fund Buying in Cocoa Futures

July ICE NY cocoa (CCN23 ) on Thursday closed up +46 (+1.48%), and July ICE London cocoa #7 (CAK23 ) closed up +23 (+0.96%). Cocoa prices Thursday extended this week's rally to 1-month nearest-futures...

CCU23 : 3,137s (+1.49%)
CAU23 : 2,391s (+0.97%)
DXY00 : 103.346 (unch)
Coffee Prices Settle Sharply Higher as an El Nino Weather Pattern Develops

July arabica coffee (KCN23 ) on Thursday closed up +9.45 (+5.10%), and July ICE robusta coffee (RMN23 ) closed up +86 (+3.22%). Coffee prices Thursday settled sharply higher, with arabica posting a 3-week...

KCU23 : 190.35s (+4.76%)
RMU23 : 2,726s (+3.41%)
DXY00 : 103.346 (unch)
Sugar Prices Surge on Global Weather Concerns

July NY world sugar #11 (SBN23 ) on Thursday closed up +0.98 (+4.00%), and Aug London white sugar #5 (SWQ23 ) closed up +19.60 (+2.93%). Sugar prices Thursday rallied sharply, with NY sugar posting a 1-week...

SBN23 : 25.48s (+4.00%)
SWQ23 : 688.80s (+2.93%)
Dollar Weakness and El Nino Spark Fund Buying in Cocoa Futures

July ICE NY cocoa (CCN23 ) on Thursday closed up +46 (+1.48%), and July ICE London cocoa #7 (CAK23 ) closed up +23 (+0.96%). Cocoa prices Thursday extended this week's rally to 1-month nearest-futures...

CCU23 : 3,137s (+1.49%)
CAU23 : 2,391s (+0.97%)
DXY00 : 103.346 (unch)
Mixed Midday for Cotton Market

July cotton is 24 points in the red at midday. The other front months are working higher with 40 to 47 point gains. July is still a 312 point premium to the new crop Dec contract. USDA reported 480,399...

CTN23 : 84.31s (-0.82%)
CTV23 : 83.95s (+0.39%)
CTZ23 : 81.63s (+0.49%)
Coffee Prices Surge as an El Nino Weather Pattern Develops

July arabica coffee (KCN23 ) this morning is up +9.00 (+4.85%), and July ICE robusta coffee (RMN23 ) is up +83 (+3.10%). Coffee prices this morning are sharply higher, with arabica posting a 3-week nearest-futures...

KCU23 : 190.35s (+4.76%)
RMU23 : 2,726s (+3.41%)
Cocoa Consolidation

Cocoa prices continue to consolidate at over $3,000 per ton. The soft commodity is the latest to join the bullish party in a sector that has led the commodities asset class over the past year.

CCN23 : 3,149s (+1.48%)
ICE : 110.60 (+2.10%)
NIB : 36.29 (+1.65%)
Cotton Gaining into Export Sales Data

Cotton is trading a point to 96 points higher this morning ahead of the USDA Export Sales report. Cotton worked lower on the midweek session, but closed 40 points to a penny off the session lows. July...

CTN23 : 84.31s (-0.82%)
CTV23 : 83.95s (+0.39%)
CTZ23 : 81.63s (+0.49%)
Cotton Closes Red on Wednesday

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...

CTN23 : 84.31s (-0.82%)
CTV23 : 83.95s (+0.39%)
CTZ23 : 81.63s (+0.49%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 27.23
2nd Resistance Point 26.45
1st Resistance Point 25.97
Last Price 25.48s
1st Support Level 24.71
2nd Support Level 23.93
3rd Support Level 23.45

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52-Week High 26.83
Last Price 25.48s
Fibonacci 61.8% 22.76
Fibonacci 50% 21.51
Fibonacci 38.2% 20.25
52-Week Low 16.18

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by Barchart
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