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Sugar #16 May '23 (SDK23)

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Sugar #16 Futures Market News and Commentary

Sugar Surges Amid Soaring Gasoline Prices and Supply Disruptions

May NY world sugar #11 (SBK26) today is up +0.50 (+3.38%), and May London ICE white sugar #5 (SWK26) is up +11.70 (+2.67%).

Sugar prices today added to this week's sharp rally, climbing to 5-month highs.  Soaring gasoline prices are boosting ethanol prices and are bullish for sugar.  Gasoline (RBJ26) rallied to a 3.5-year high today, which may encourage the world's sugar mills to increase ethanol production at the expense of sugar.  

Sugar prices are also finding support amid supply disruptions from the closure of the Strait of Hormuz.  According to Covrig Analytics, the closure of the strait has curbed approximately 6% of the world's sugar trade, constraining refined sugar output.

Earlier this month, sugar prices plunged to 5.25-year nearest-futures lows on concern that a global sugar surplus will persist.  On February 11, analysts from sugar trader Czarnikow said they expect a global sugar surplus of 3.4 MMT in the 2026/27 crop year, following an 8.3 MMT surplus... 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
$1,798/1,635
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
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

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 Surges Amid Soaring Gasoline Prices and Supply Disruptions

May NY world sugar #11 (SBK26 ) today is up +0.50 (+3.38%), and May London ICE white sugar #5 (SWK26 ) is up +11.70 (+2.67%). Sugar prices today added to this week's sharp rally, climbing to 5-month highs....

RBK26 : 3.1187 (+1.54%)
SBK26 : 15.37s (+3.85%)
SWK26 : 452.30 (+3.41%)
Dollar Weakness Sparks Short Covering in Cocoa Futures

May ICE NY cocoa (CCK26 ) today is up +81 (+2.48%), and May ICE London cocoa #7 (CAK26 ) is up +65 (+2.70%). Cocoa prices recovered from early losses today and are moving higher as a slumping dollar ($DXY...

$DXY : 99.52 (-0.57%)
CCK26 : 3,329 (+2.12%)
CAK26 : 2,444 (+1.71%)
Higher Shipping Costs Boost Coffee Prices

May arabica coffee (KCK26 ) today is up +5.30 (+1.81%), and May ICE robusta coffee (RMK26 ) is up +68 (+1.90%). Coffee prices are climbing today, with robusta posting a 1-week high. The closure of the...

RMK26 : 3,668 (+2.49%)
KCK26 : 300.35 (+2.54%)
Cotton Slipping Back on Thursday Morning

Cotton prices are down 20 to 40 points early on Thursday morning. Futures crept lower into the Wednesday close, as contracts were down 1 to 18 points on the session. Crude oil was back up $3.61 to $99.82,...

CTN26 : 69.77 (-1.13%)
CTK26 : 67.82 (-1.28%)
CTZ26 : 72.11 (-0.73%)
Cotton Slips Lower on Wednesday

Cotton futures crept lower into the Wednesday close, as contracts were down 1 to 18 points on the session. Crude oil was back up $3.61 to $99.82, with the US dollar index up $0.725 to $100.055. The Seam...

CTN26 : 69.77 (-1.13%)
CTK26 : 67.82 (-1.28%)
CTZ26 : 72.11 (-0.73%)
Sugar Rallies as Gasoline Surge Boosts Ethanol

May NY world sugar #11 (SBK26 ) on Wednesday closed up +0.35 (+2.42%), and May London ICE white sugar #5 (SWK26 ) closed up +11.40 (+2.68%). Sugar prices rallied sharply on Wednesday, with NY sugar posting...

RBK26 : 3.1187 (+1.54%)
SBK26 : 15.37s (+3.85%)
SWK26 : 452.30 (+3.41%)
Cocoa Prices Fall on an Improved Supply Outlook

May ICE NY cocoa (CCK26 ) on Wednesday closed down -89 (-2.66%), and May ICE London cocoa #7 (CAK26 ) closed down -32 (-1.31%). Cocoa prices settled lower on Wednesday and have been under pressure over...

CCK26 : 3,329 (+2.12%)
CAK26 : 2,444 (+1.71%)
Arabica Coffee Closes Lower on a Bumper Brazil Crop and Abundant ICE Inventories

May arabica coffee (KCK26 ) on Wednesday closed down by -1.85 (-0.63%), and May ICE robusta coffee (RMK26 ) closed up +52 (+1.47%). Coffee prices settled mixed on Wednesday. The outlook for a bumper Brazil...

RMK26 : 3,668 (+2.49%)
KCK26 : 300.35 (+2.54%)
Cotton Mixed at Midday

Cotton futures are down 6 points to 9 points higher on Wednesday. Crude oil is back up $1.58 to $97.79, with the US dollar index up $0.270 to $99.610. The Seam showed sales on 15,400 bales on 3/17, averaging...

CTN26 : 69.77 (-1.13%)
CTK26 : 67.82 (-1.28%)
CTZ26 : 72.11 (-0.73%)
Soaring Gasoline Price Boosts Sugar

May NY world sugar #11 (SBK26 ) today is up +0.34 (+2.35%), and May London ICE white sugar #5 (SWK26 ) is up +11.10 (+2.61%). Sugar prices are moving sharply higher today, with NY sugar posting a 1.5-month...

RBK26 : 3.1187 (+1.54%)
SBK26 : 15.37s (+3.85%)
SWK26 : 452.30 (+3.41%)

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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