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Sugar #16 Nov '19 (SDX19)

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Sugar #16 Futures Market News and Commentary

Sugar Prices Fall to 1-Month Low on Plunge in Crude Oil and Record Low in Brazilian Real

May NY world sugar #11 (SBK20) on Thursday closed down -0.34 (-2.34%), and May London white sugar #5 (SWK20) closed down -7.10 (-1.75%).

Sugar prices on Thursday dropped to a 1-month low on weakness in crude prices and a plunge in the Brazilian real to a new record low. Crude oil prices tumbled more than 4% Thursday to a 13-3/4 month low. Lower crude prices are negative for ethanol prices and may prompt Brazil's sugar mills to divert more cane crushing toward sugar production rather than ethanol production, thus boosting sugar supplies.

The Brazilian real on Thursday fell -0.52% against the dollar and posted a new record low of 4.5002 reals/USD. A weaker real encourages export selling by Brazil's sugar producers.

An extremely large net-long position held by funds makes the sugar futures markets vulnerable to long liquidation pressure. Last Friday's Commitment of Traders (COT) data showed that funds boosted their long NY sugar positions by 96765 contracts in the... 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
$751/683
First Notice Date
10/09/19
Expiration Date
10/08/19 (expired)

Seasonal Chart

Sugar #16 Nov '19
Average Price Chart for 5 Prior Nov Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
25.50 unch
on 10/08/19
25.95 -1.73%
on 10/01/19
-0.25 (-0.97%)
since 09/06/19
3-Month
25.50 unch
on 10/08/19
26.10 -2.30%
on 07/09/19
-0.56 (-2.15%)
since 07/08/19
52-Week
25.50 unch
on 10/08/19
26.70 -4.49%
on 06/04/19
-0.47 (-1.81%)
since 10/08/18

More Sugar #16 Quotes

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Most Recent Stories

More News
Cocoa Prices Close Higher as Weak Dollar Spurs Short-Covering

May ICE NY cocoa (CCK20) on Thursday closed up +6 (+0.22%), and May ICE London cocoa #7 (CAK20) closed up +4 (+0.20%). Cocoa prices on Thursday closed higher after a slump in the dollar index to a 3-week...

Coffee Gives up Early Gains and Closes Lower on Weakness in the Brazilian Real

May arabica coffee (KCK20) on Thursday closed down -0.90 (-0.81%), and May ICE Robusta coffee (DFK0) closed down -6 (-0.46%). Coffee prices on Thursday gave up early gains and closed lower on weakness...

Sugar Prices Fall to 1-Month Low on Plunge in Crude Oil and Record Low in Brazilian Real

May NY world sugar #11 (SBK20) on Thursday closed down -0.34 (-2.34%), and May London white sugar #5 (SWK20) closed down -7.10 (-1.75%). Sugar prices on Thursday dropped to a 1-month low on weakness in...

Cotton Market Lower Again

So far the cotton futures market is down 78 to 182 points at midday. The dollar is sharply lower, and the stock market is also weaker. There were another 26 deliveries against March futures, with Dreyfus...

Cocoa Prices Move Higher as Weak Dollar Spurs Short-Covering

May ICE NY cocoa (CCK20) this morning is up +6 (+0.22%), and May ICE London cocoa #7 (CAK20) is up +7 (+0.35%). Cocoa prices this morning are slightly higher as a slump in the dollar index to a 3-week...

Softs Report 02/27/2020

COTTON General Comments: Cotton was lower in reaction to news of the spread of the Caronavirus and in reaction to the drop for the [...]

Coffee Climbs to 1-Week Highs on Hopes Coronavirus May Have Limited Impact on Coffee Demand

May arabica coffee (KCK20) this morning is up +1.55 (+1.40%), and May ICE Robusta coffee (DFK0) is up +1 (+0.08%). Coffee prices this morning are gaining for a third day and posted 1-week highs on speculation...

Sugar Prices Drop to 1-Month Low on a Plunge in Crude Oil and Weakness in Brazilian Real

May NY world sugar #11 (SBK20) this morning is down -0.48 (-3.30%), and May London white sugar #5 (SWK20) is down -10.60 (-2.61%). Sugar prices this morning dropped to a 1-month low on weakness in crude...

Mooses in the Markets - Cocoa, Coronavirus and Currencies

May cocoa futures continue to move lower as fear grows that the coronavirus outbreak could continue to get worse.

Cotton Drops Triple Digits Overnight on Economic Fears

Cotton comes out of the overnight session with 84 to 113 point losses. The dollar is sharply lower, and the stock market is weaker. On Wednesday, front month cotton futures closed with more losses to the...

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 88% Sell with a Strengthening short term outlook on maintaining the current direction.

Long term indicators fully support a continuation of the trend.

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Key Turning Points

2nd Resistance Point 25.50
1st Resistance Point 25.50
Last Price 25.50s
1st Support Level 25.50
2nd Support Level 25.50

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52-Week High 26.70
Fibonacci 61.8% 26.24
Fibonacci 50% 26.10
Fibonacci 38.2% 25.96
Last Price 25.50s
52-Week Low 25.50

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InsideFutures Commentary

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