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Sugar #16 Jan '24 (SDF24)
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Sugar #16 Futures Market News and Commentary

Sugar Prices Retreat on Demand Concerns

May NY world sugar #11 (SBK24) on Friday closed down -0.60 (-2.77%), and May London ICE white sugar #5 (SWK24) closed down -12.50 (-2.03%).

Sugar prices Friday retreated for a second day and posted 2-month lows.  A large delivery to settle the March NY sugar contract, which expired Thursday, undercut prices with a delivery of 1.3 MMT, the second-largest delivery ever for a March contract.  A large delivery is typically bearish for prices as it signals difficulty finding demand.  

Another negative for sugar prices is a significant increase in Brazil's sugar production.  On Tuesday, Unica reported that Brazil's Center-South sugar output surged +1051% y/y in the first half of February to 27,000 MT and that sugar output in the 2023/24 crop year through mid-February rose +25.6% y/y to 42.158 MMT.  Meanwhile, more sugarcane is being crushed for sugar than ethanol, as 49.04% of cane was crushed in the 2023/24 crop year through mid-February for sugar production compared to 45.95... Read more

Contract Specifications

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Contract
Sugar #16
Contract Size
112,000 pounds (50 long tonnes)
Tick Size
0.01 cents per pound ($11.20 per contract)
Trading Hours
8:00a.m. - 12:00p.m. (Settles 12:00p.m.) CST
Exchange
ICE/US
Point Value
$1,120
Margin/Maintenance
$2,241/2,038
First Notice Date
12/11/23
Expiration Date
12/08/23 (expired)

Seasonal Chart

Sugar #16 Jan '24
Average Price Chart for 5 Prior Jan Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
39.00 unch
on 12/08/23
45.75 -14.75%
on 11/16/23
-6.28 (-13.87%)
since 11/08/23
3-Month
39.00 unch
on 12/08/23
45.75 -14.75%
on 11/16/23
-3.50 (-8.24%)
since 09/08/23
52-Week
34.93 +11.65%
on 01/09/23
45.75 -14.75%
on 11/16/23
+3.33 (+9.34%)
since 12/08/22

More Sugar #16 Quotes

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Sugar Prices Retreat on Demand Concerns

May NY world sugar #11 (SBK24 ) on Friday closed down -0.60 (-2.77%), and May London ICE white sugar #5 (SWK24 ) closed down -12.50 (-2.03%). Sugar prices Friday retreated for a second day and posted 2-month...

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Cocoa Prices Surge as the Global Cocoa Deficit Deepens

May ICE NY cocoa (CCK24 ) this morning is up +270 (+4.46%), and May ICE London cocoa #7 (CAK24 ) is up +138 (+2.67%). Cocoa prices this morning are sharply higher on signs of deeper global cocoa deficits....

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Friday Starting Mixed for Cotton Futures

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Sugar Prices Slump as the Brazilian Real Falls

March NY world sugar #11 (SBH24 ) on Thursday closed down -1.43 (-5.96%), and May London ICE white sugar #5 (SWK24 ) closed down -19.90 (-3.13%). Sugar prices slumped on Thursday as weakness in the Brazilian...

SBK24 : 21.09s (-2.77%)
SWK24 : 602.60s (-2.03%)
^USDBRL : 4.95520 (-0.36%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 39.00
2nd Resistance Point 39.00
1st Resistance Point 39.00
Last Price 39.00s
1st Support Level 39.00
2nd Support Level 39.00
3rd Support Level 39.00

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52-Week High 45.75
Fibonacci 61.8% 41.62
Fibonacci 50% 40.34
Fibonacci 38.2% 39.06
Last Price 39.00s
52-Week Low 34.93

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