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Sugar #11 Oct '23 (SBV23)
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Sugar #11 Futures Market News and Commentary

Sugar Prices Retreat on Weakness in the Brazilian Real and Crude Oil

March NY world sugar #11 (SBH24) on Monday closed -0.13 (-0.49%), and Dec London white sugar #5 (SWZ23) closed -4.20 (-0.59%).

Sugar prices Monday closed moderately lower, with London sugar falling to a 5-week low.  Weakness in the Brazilian real (^USDBRL) is bearish for sugar prices after the real on Monday tumbled to a 4-month low against the dollar.  The weaker real encourages export selling from Brazil's sugar producers.    Also, Monday's -2% fall in crude prices (CLX23) was bearish for sugar as the weakness in crude undercuts ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward sugar production than ethanol, thus boosting sugar supplies.

Sugar has been under pressure over the past week on signs of ramped-up sugar production in Brazil.  Last Tuesday, Unica reported that Brazil Center-South sugar output in the first half of September rose +8.5% y/y to 3.116 MMT and that sugar output in the 2023/24 crop year through mid-September ro... 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
10/02/23
Expiration Date
09/29/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 26, 2023

View Chart Details
Commercials - Long / Short
381,053 (-33,452)
662,107 (-47,012)
Non-Commercials - Long / Short
324,664 (-4,451)
85,424 (+618)
Producers - Long / Short
236,608 (-31,753)
480,330 (-36,503)
Swap Dealers - Long / Short
114,289 (+3,238)
151,621 (-5,572)
Managed Money - Long / Short
254,492 (-2,822)
52,086 (+2,333)
Other Reportables - Long / Short
70,172 (-1,629)
33,338 (-1,715)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
25.02 +5.00%
on 08/31/23
27.62 -4.89%
on 09/19/23
+0.82 (+3.22%)
since 08/29/23
3-Month
22.17 +18.49%
on 06/30/23
27.62 -4.89%
on 09/19/23
+4.19 (+18.98%)
since 06/29/23
52-Week
16.23 +61.86%
on 10/31/22
27.62 -4.89%
on 09/19/23
+9.67 (+58.25%)
since 09/29/22

More Sugar #11 Quotes

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Most Recent Stories

More News
Rain in Brazil Weighs on Coffee Prices

Dec arabica coffee (KCZ23 ) on Tuesday closed down -0.35 (-0.23%), and Nov ICE robusta coffee (RMX23 ) closed down -51 (-2.07%). Coffee prices Tuesday posted moderate losses, with robusta falling to a...

KCZ23 : 148.75s (-0.23%)
RMX23 : 2,410s (-2.07%)
^USDBRL : 5.16680 (+2.11%)
Weakness in the Brazilian Real Undercuts Sugar Prices

March NY world sugar #11 (SBH24 ) on Tuesday closed -0.68 (-2.58%), and Dec London white sugar #5 (SWZ23 ) closed -12.60 (-1.80%). Sugar prices Tuesday tumbled to 5-week lows. Weakness in the Brazilian...

SBH24 : 25.67s (-2.58%)
SWZ23 : 689.10s (-1.80%)
^USDBRL : 5.16680 (+2.11%)
Dollar Strength Sparks Long Liquidation in Cocoa Futures

Dec ICE NY cocoa (CCZ23 ) on Tuesday closed -74 (-2.11%), and Dec ICE London cocoa #7 (CAZ23 ) closed -54 (-1.78%). Cocoa prices Tuesday closed moderately lower after a rally in the dollar index (DXY00...

CCZ23 : 3,428s (-2.11%)
CAH24 : 2,947s (-1.57%)
DXY00 : 107.074 (+0.16%)
Red Cotton Market through Tuesday

Front month cotton prices are 21 to 31 points lower through Tuesday’s midday. December prices are 40 points off the session low. USDA had 75% of the cotton crop with open bolls as of 10/1. The harvest...

CTV23 : 87.14s (-0.37%)
CTZ23 : 87.43s (-0.36%)
CTH24 : 88.27s (-0.36%)
Coffee Prices Retreat on Rain Forecasts for Brazil

Dec arabica coffee (KCZ23 ) this morning is down -0.60 (-0.40%), and Nov ICE robusta coffee (RMX23 ) is down -49 (-1.99%). Coffee prices this morning are moderately lower, with robusta dropping to a 3-week...

KCZ23 : 148.75s (-0.23%)
RMX23 : 2,410s (-2.07%)
Cotton Futures Fading into Tuesday

The AM cotton trade has the board 40 to 46 points lower for the turnaround Tuesday session. Front month cotton prices had firmed up on Monday to start the new week. The Dec contract closed up by 60 points,...

CTV23 : 87.14s (-0.37%)
CTZ23 : 87.43s (-0.36%)
CTH24 : 88.27s (-0.36%)
Cotton Ended with Gains on Monday

Front month cotton prices firmed up to start the new week / new month of positioning. The Dec contract closed up by 60 points, and just 21 points off the session high. USDA had 75% of the cotton crop...

CTV23 : 87.14s (-0.37%)
CTZ23 : 87.43s (-0.36%)
CTH24 : 88.27s (-0.36%)
Crop Progress

Crop Progress - 2023-10-02

ZSX23 : 1272-6s (-0.33%)
ZSPAUS.CM : 12.0799 (-0.34%)
ZSBAUS.CM : -0.6476 (+0.28%)
ZSDAUS-BIW.CM : 4,363,252 (+0.04%)
ZSYAUS-BIW.CM : 50.45 (+0.04%)
XSX23 : 4,767s (+0.61%)
XTX23 : 5,084s (+0.04%)
ZCZ23 : 487-4s (-0.26%)
ZCPAUS.CM : 4.5291 (-0.23%)
ZCBAUS.CM : -0.3458 (+0.60%)
XVF24 : 2,569s (+0.75%)
XEX23 : 59.90 (+0.22%)
Sugar Prices Retreat on Weakness in the Brazilian Real and Crude Oil

March NY world sugar #11 (SBH24 ) on Monday closed -0.13 (-0.49%), and Dec London white sugar #5 (SWZ23 ) closed -4.20 (-0.59%). Sugar prices Monday closed moderately lower, with London sugar falling to...

SBH24 : 25.67s (-2.58%)
SWZ23 : 689.10s (-1.80%)
^USDBRL : 5.16680 (+2.11%)
CLX23 : 89.42 (+0.68%)
Tight Global Supplies Support Coffee Prices

Dec arabica coffee (KCZ23 ) on Monday closed up +2.95 (+2.01%), and Nov ICE robusta coffee (RMX23 ) closed down -1 (-0.04%). Coffee prices on Monday settled mixed. Tight global coffee supplies support...

KCZ23 : 148.75s (-0.23%)
RMX23 : 2,410s (-2.07%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 27.25
2nd Resistance Point 27.02
1st Resistance Point 26.65
Last Price 26.27s
1st Support Level 26.05
2nd Support Level 25.82
3rd Support Level 25.45

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52-Week High 27.62
Last Price 26.27s
Fibonacci 61.8% 23.27
Fibonacci 50% 21.92
Fibonacci 38.2% 20.58
52-Week Low 16.23

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