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Sugar #16 May '23 (SDK23)

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Sugar #16 Futures Market News and Commentary

Sugar Prices Close Higher on Strength in the Brazilian Real

May NY world sugar #11 (SBK24) on Tuesday closed up +0.11 (+0.56%), and Aug London ICE white sugar #5 (SWQ24) closed up +2.80 (+0.49%).

Sugar prices on Tuesday settled moderately higher.  Sugar prices found support from a rally in the Brazilian real (^USDBRL) to a 1-week high against the dollar.  Strength in the real discourages export selling by Brazil's sugar producers.  

Sugar prices have underlying support from last Thursday when Conab cut its Brazil 2023/24 sugar production estimate by -2.6% to 45.7 MMT from a November estimate of 46.9 MMT.  Conab's Brazil sugar production estimate was reduced since Conab raised its Brazil 2023/24 ethanol production estimate to 29.7 bln liters from a November estimate of 28 billion liters.

Last  Wednesday, NY sugar fell to a 15-month low, and London sugar dropped to a 14-month low on improved supply prospects.  Last Friday, Unica reported that Brazil's Center-South sugar output in the second half of March was 183,000 MT, up +9... 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
$2,217/2,016
First Notice Date
04/11/23
Expiration Date
04/10/23 (expired)

Seasonal Chart

Sugar #16 May '23
Average Price Chart for 5 Prior May Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
36.65 +4.39%
on 04/04/23
39.95 -4.23%
on 04/03/23
-0.04 (-0.10%)
since 03/10/23
3-Month
35.88 +6.63%
on 01/11/23
39.95 -4.23%
on 04/03/23
+2.47 (+6.90%)
since 01/10/23
52-Week
34.60 +10.58%
on 09/22/22
39.95 -4.23%
on 04/03/23
+2.01 (+5.54%)
since 04/08/22

More Sugar #16 Quotes

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Most Recent Stories

More News
Sugar Prices Close Higher on Strength in the Brazilian Real

May NY world sugar #11 (SBK24 ) on Tuesday closed up +0.11 (+0.56%), and Aug London ICE white sugar #5 (SWQ24 ) closed up +2.80 (+0.49%). Sugar prices on Tuesday settled moderately higher. Sugar prices...

SBN24 : 19.66s (+0.25%)
SWQ24 : 573.20s (+0.49%)
^USDBRL : 5.13030 (+0.08%)
Cocoa Plunges as Prices Correct Lower from Record Highs

May ICE NY cocoa (CCK24 ) on Tuesday closed down -582 (-5.21%), and May ICE London cocoa #7 (CAK24 ) closed down -482 (-4.85%). Cocoa prices fell sharply for a second session on Tuesday as the market corrected...

CCN24 : 10,444s (-5.60%)
CAU24 : 8,491s (-5.91%)
Arabica Coffee Posts Moderate Losses as ICE-Monitored Inventories Recover

July arabica coffee (KCN24 ) on Tuesday closed down -5.80 (-2.55%), and May ICE robusta coffee (RMK24 ) closed up +98 (+2.37%). Coffee prices on Tuesday settled mixed, with Arabica falling to a 1-week...

KCN24 : 221.85s (-2.55%)
RMN24 : 4,117s (-0.39%)
Cotton Pushing Back Lower at Midday

The cotton market showing losses on Turnaround Tuesday, to continue the slide with 25 to 131 point losses. They are shrugging off outside market strength, with crude oil up $1.02 at midday and the US dollar...

CTK24 : 80.22s (+0.22%)
CTN24 : 81.72s (-0.85%)
CTZ24 : 78.08s (-0.52%)
Strength in the Brazilian Real Boosts Sugar Prices

May NY world sugar #11 (SBK24 ) this morning is up +0.11 (+0.56%), and Aug London ICE white sugar #5 (SWQ24 ) is up +3.10 (+0.54%). Sugar prices this morning are moderately higher. Sugar prices are seeing...

SBN24 : 19.66s (+0.25%)
SWQ24 : 573.20s (+0.49%)
^USDBRL : 5.13030 (+0.08%)
Cocoa Prices in Correction Mode from Record Highs

May ICE NY cocoa (CCK24 ) this morning is down -582 (-5.21%), and May ICE London cocoa #7 (CAK24 ) is down -482 (-4.85%). Cocoa prices today are falling sharply for a second session as the market corrects...

CCN24 : 10,444s (-5.60%)
CAU24 : 8,491s (-5.91%)
Arabica Coffee Under Pressure from a Rebound in ICE-Monitored Arabica Inventories

July arabica coffee (KCN24 ) this morning is down -5.90 (-2.59%), and May ICE robusta coffee (RMK24 ) is up +58 (+1.41%). Coffee prices this morning are mixed, with arabica falling to a 1-week low. A...

KCN24 : 221.85s (-2.55%)
RMN24 : 4,117s (-0.39%)
Cotton Leaking Lower

The cotton market is down 11 to 28 points in early Tuesday trade. Cotton saw a bit of a dead cat bounce on Monday, as contracts were up 29 to 140 points after reaching new multi-month lows last week. ...

CTK24 : 80.22s (+0.22%)
CTN24 : 81.72s (-0.85%)
CTZ24 : 78.08s (-0.52%)
Cotton Post Monday Strength

The cotton market saw some recovery from the drop off the February highs, as contracts were up 29 to 140 points on Monday. The US cotton crop is now 11% planted as of April 21 according to the NASS Crop...

CTK24 : 80.22s (+0.22%)
CTN24 : 81.72s (-0.85%)
CTZ24 : 78.08s (-0.52%)
Crop Progress

Crop Progress - 2024-04-22

ZSN24 : 1182-0s (+0.47%)
ZSPAUS.CM : 11.1526 (+0.63%)
ZSBAUS.CM : -0.5224 (+0.93%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSK24 : 3,768s (+1.32%)
XTN24 : 4,621s (-0.19%)
ZCN24 : 452-4s (+0.61%)
ZCPAUS.CM : 4.2744 (+0.79%)
ZCBAUS.CM : -0.1556 (+0.58%)
XVN24 : 2,414s (+0.08%)
XEU24 : 58.90 (-0.20%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 38.26
2nd Resistance Point 38.26
1st Resistance Point 38.26
Last Price 38.26s
1st Support Level 38.26
2nd Support Level 38.26
3rd Support Level 38.26

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52-Week High 39.95
Last Price 38.26s
Fibonacci 61.8% 37.91
Fibonacci 50% 37.28
Fibonacci 38.2% 36.64
52-Week Low 34.60

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