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Sugar #11 May '23 (SBK23)
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Sugar #11 Futures Market News and Commentary

Sugar Prices Weighed Down by a Plunge in Crude Oil

July NY world sugar #11 (SBN23) on Tuesday closed down -0.04 (-0.16%), and Aug London white sugar #5 (SWQ23) closed down -1.70 (-0.24%).

Sugar prices Tuesday gave up early gains and closed slightly lower.  A slump of more than -4% in crude prices Tuesday to a 2-week low sparked long liquidation in sugar futures.  Weaker crude prices undercut ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward sugar than ethanol, thus boosting sugar supplies.  

The USDA, in its bi-annual report released on May 25, projected that global 2023/24 sugar production would climb +6.0% y/y to a record 187.881 MMT and that global 2023/24 human sugar consumption would increase +2.3% y/y to a record 180.045 MMT.  The USDA also forecasted that 2023/24 global sugar ending stocks will fall -15.2% y/y to a 5-year low of 33.455 MMT.

Ramped-up Brazil sugar production is bearish for prices after Unica last Thursday reported  Brazil's 2023/24 sugar production thro... 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
05/01/23
Expiration Date
04/28/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 23, 2023

View Chart Details
Commercials - Long / Short
386,150 (+6,847)
709,473 (+6,787)
Non-Commercials - Long / Short
350,244 (+9,758)
76,434 (+6,777)
Producers - Long / Short
248,437 (+5,276)
461,911 (+5,582)
Swap Dealers - Long / Short
92,196 (+687)
202,045 (+321)
Managed Money - Long / Short
274,437 (+9,649)
47,009 (-173)
Other Reportables - Long / Short
75,807 (+109)
29,425 (+6,950)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
21.05 +28.22%
on 03/29/23
27.41 -1.53%
on 04/27/23
+5.68 (+26.65%)
since 03/28/23
3-Month
19.43 +38.91%
on 02/07/23
27.41 -1.53%
on 04/27/23
+7.38 (+37.63%)
since 01/27/23
52-Week
16.64 +62.20%
on 10/28/22
27.41 -1.53%
on 04/27/23
+8.23 (+43.87%)
since 04/28/22

More Sugar #11 Quotes

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Sugar Prices Weighed Down by a Plunge in Crude Oil

July NY world sugar #11 (SBN23 ) on Tuesday closed down -0.04 (-0.16%), and Aug London white sugar #5 (SWQ23 ) closed down -1.70 (-0.24%). Sugar prices Tuesday gave up early gains and closed slightly lower....

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KCN23 : 178.90 (+1.02%)
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Coffee Prices Lower on Harvest Pressures and Brazil Real Weakness

July arabica coffee (KCN23 ) this morning is down -4.45 (-2.45%), and July ICE robusta coffee (RMN23 ) is down -7 (-0.27%). Coffee prices this morning are moving lower, with arabica falling to a 1-1/2...

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Breakfast Report | 5/30/2023 |

"Actionable Soft commodity trading ideas that help you stay ahead of the markets."

Cotton Futures Mixed at Midday

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DXM23 : 104.580 (+0.48%)
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Cotton Rallying Out of Holiday Break

AM cotton prices are working with 8 to 240 point gains so far following the Memorial Day break. Friday’s round of trading lifted the board back up by 2.5% to 4% across the front months. For July, the...

CTN23 : 83.25 (-0.88%)
CTV23 : 80.91s (-0.15%)
CTZ23 : 79.62 (-0.74%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 27.74
2nd Resistance Point 27.40
1st Resistance Point 27.19
Last Price 26.99s
1st Support Level 26.64
2nd Support Level 26.30
3rd Support Level 26.09

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52-Week High 27.41
Last Price 26.99s
Fibonacci 61.8% 23.30
Fibonacci 50% 22.02
Fibonacci 38.2% 20.75
52-Week Low 16.64

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