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Sugar #11 May '19 (SBK19)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Close Lower on Increased Production in India

May NY world sugar #11 (SBK19) on Tuesday closed down -0.06 (-0.47%) and May ICE London white sugar (SWK19) closed down -4.90 (-1.41). Sugar prices moved lower Tuesday after the All India Sugar Trade Association raised its 2018/19 sugar production estimate for India, now the world's largest sugar producer, to 32.6 MMT from a Jan estimate of 31.5 MMT and above the Indian Sugar Mills Association's estimate of 30.7 MMT. Also, weakness in crude prices weighed on sugar as weaker crude oil prices undercut ethanol prices and may prompt Brazil’s sugar mills to divert more cane crushing to sugar production than ethanol production, thus boosting sugar supplies. A positive for sugar was strength in the Brazilian real which climbed to a 1-1/2 week high against the dollar on Tuesday, which discourages exports from Brazil’s sugar producers. On the bearish side, India's Sugar Mills Association on Monday reported that India sugar production during Oct 1-Mar 15 rose +5.9% y/y to 27.35 MMT.

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
$1,047/952
First Notice Date
05/01/19 (43 days)
Expiration Date
04/30/19 (42 days)

Seasonal Chart

Sugar #11 May '19
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Mar 12, 2019

View Chart Details
Commercials - Long / Short
482,696 (+37,846)
423,240 (-17,838)
Non-Commercials - Long / Short
176,302 (+5,240)
242,289 (+48,715)
Producers - Long / Short
271,694 (+39,667)
386,435 (-13,590)
Swap Dealers - Long / Short
196,699 (+1,906)
22,502 (-521)
Managed Money - Long / Short
112,290 (+39)
229,481 (+46,891)
Other Reportables - Long / Short
64,012 (+5,201)
12,808 (+1,824)
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Price Performance

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Period Period Low Period High Performance
1-Month
12.08 +5.79%
on 03/07/19
13.42 -4.77%
on 02/20/19
-0.45 (-3.40%)
since 02/19/19
3-Month
11.82 +8.12%
on 01/03/19
13.42 -4.77%
on 02/20/19
+0.24 (+1.91%)
since 12/19/18
52-Week
10.94 +16.82%
on 09/27/18
14.51 -11.92%
on 03/20/18
-1.73 (-11.92%)
since 03/19/18

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Sugar Prices Close Lower on Increased Production in India

May NY world sugar #11 (SBK19) on Tuesday closed down -0.06 (-0.47%) and May ICE London white sugar (SWK19) closed down -4.90 (-1.41). Sugar prices moved lower Tuesday after the All India Sugar Trade...

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Softs Report 03/19/19

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Sugar Prices Fall on Increased Production in India

May NY world sugar #11 (SBK19) this morning is down -0.07 (-0.55%) and May ICE London white sugar (SWK19) is down -2.40 (-0.69). Sugar prices moved lower today after the All India Sugar Trade Association...

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 8% Sell with a Weakest short term outlook on maintaining the current direction.

Longer term, the trend strength is Minimum. Long term indicators fully support a continuation of the trend.

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Key Turning Points

2nd Resistance Point 12.94
1st Resistance Point 12.86
Last Price 12.78s
1st Support Level 12.67
2nd Support Level 12.56

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52-Week High 14.51
Fibonacci 61.8% 13.15
Last Price 12.78s
Fibonacci 50% 12.73
Fibonacci 38.2% 12.30
52-Week Low 10.94

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