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Sugar #16 May '23 (SDK23)
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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
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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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...

SBK24 : 21.09s (-2.77%)
SWK24 : 602.60s (-2.03%)
Cocoa Prices Sharply Higher as the Global Cocoa Deficit Widens

May ICE NY cocoa (CCK24 ) on Friday closed up +278 (+4.60%), and May ICE London cocoa #7 (CAK24 ) closed up +138 (+2.67%). On Friday, cocoa prices rallied sharply on signs of deeper global cocoa deficits....

CCK24 : 6,327s (+4.60%)
CAK24 : 5,300s (+2.67%)
Arabica Coffee Closes Lower on Increased Supplies from Honduras

May arabica coffee (KCK24 ) on Friday closed down -1.05 (-0.57%), and May ICE robusta coffee (RMK24 ) closed up +48 (+1.55%). Coffee prices on Friday settled mixed, with robusta climbing to a 1-week high....

KCK24 : 183.30s (-0.57%)
RMK24 : 3,143s (+1.55%)
Cotton Giving Back a Limit 4c

The May cotton contract is lock-limit lower at midday giving back 4 cents of value after Tuesday’s limit rally. May is still up by a net 208 points for the week. New crop futures are also trading in...

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Sugar Prices Tumble on a Large Delivery to Settle the March NY Sugar Contract

May NY world sugar #11 (SBK24 ) this morning is down -0.57 (-2.63%), and May London ICE white sugar #5 (SWK24 ) is down -11.30 (-1.84%). Sugar prices today retreated for a second day and fell to 2-month...

SBK24 : 21.09s (-2.77%)
SWK24 : 602.60s (-2.03%)
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....

CCK24 : 6,327s (+4.60%)
CAK24 : 5,300s (+2.67%)
Coffee Prices Mixed as Arabica Slips as Coffee Exports from Honduras Climb

May arabica coffee (KCK24 ) this morning is down -0.40 (-0.22%), and May ICE robusta coffee (RMK24 ) is up +46 (+1.49%). Coffee prices this morning are mixed, with robusta climbing to a 1-week high. Arabica...

KCK24 : 183.30s (-0.57%)
RMK24 : 3,143s (+1.55%)

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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