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Sugar #11 May '24 (SBK24)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Settle Mixed on Higher Brazil Sugar Production Estimates

July NY world sugar #11 (SBN24) on Thursday closed down -0.02 (-0.10%), and Aug London ICE white sugar #5 (SWQ24) closed up +2.70 (+0.47%).

Sugar prices Thursday settled mixed.  Thursday's action by Datagro to raise its sugar production estimate for Brazil's Center-South region is bearish for sugar prices.  Datagro hiked its 2024 Center-South sugar production estimate to 41.6 MMT from a March estimate of 40.45 MMT.  

Also, weakness in the Brazilian real (^USDBRL) is negative for sugar prices as the real Thursday fell to a 1-week low against the dollar.  The weaker real encourages export selling from Brazil's sugar producers.

On Tuesday, sugar prices rose to 3-week highs on signs of lower sugar output in India when the Indian Sugar and Bioenergy Manufacturers Association reported Monday that India's 2023/24 sugar production from Oct-Apr fell -1.6% y/y to 31.4 MMT as more sugar mills closed for the year and ended their sugarcane crush.  As of April 30, 516 Indian sug... 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
$2,217/2,016
First Notice Date
05/01/24
Expiration Date
04/30/24 (expired)

Seasonal Chart

Sugar #11 May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 30, 2024

View Chart Details
Commercials - Long / Short
460,096 (+8,116)
489,916 (-1,214)
Non-Commercials - Long / Short
199,571 (+2,274)
159,266 (+7,070)
Producers - Long / Short
311,997 (+6,329)
343,918 (-1,981)
Swap Dealers - Long / Short
108,177 (+487)
106,076 (-533)
Managed Money - Long / Short
135,641 (-4,484)
129,435 (+8,406)
Other Reportables - Long / Short
63,930 (+6,758)
29,831 (-1,336)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
19.17 +2.82%
on 04/17/24
22.91 -13.97%
on 04/02/24
-2.81 (-12.48%)
since 03/28/24
3-Month
19.17 +2.82%
on 04/17/24
23.62 -16.55%
on 02/09/24
-3.36 (-14.56%)
since 01/30/24
52-Week
19.17 +2.82%
on 04/17/24
26.76 -26.35%
on 11/07/23
-4.01 (-16.91%)
since 04/28/23

More Sugar #11 Quotes

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Most Recent Stories

More News
Crop Production

Crop Production - 2024-05-10

ZSN24 : 1211-4 (+0.25%)
ZSPAUS.CM : 11.4911 (+0.25%)
ZSBAUS.CM : -0.6238 (-0.26%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,129s (-0.55%)
XTN24 : 4,670s (-0.70%)
ZCN24 : 465-0 (+1.86%)
ZCPAUS.CM : 4.4189 (+1.94%)
ZCBAUS.CM : -0.2310 (-0.35%)
XVN24 : 2,452s (+0.41%)
XEU24 : 62.31 (+0.16%)
WASDE

WASDE - 2024-05-10

ZSN24 : 1211-4 (+0.25%)
ZSPAUS.CM : 11.4911 (+0.25%)
ZSBAUS.CM : -0.6238 (-0.26%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,129s (-0.55%)
XTN24 : 4,670s (-0.70%)
ZCN24 : 465-0 (+1.86%)
ZCPAUS.CM : 4.4189 (+1.94%)
ZCBAUS.CM : -0.2310 (-0.35%)
XVN24 : 2,452s (+0.41%)
XEU24 : 62.31 (+0.16%)
Cotton Lower on Friday Morning

The cotton market is trading 77 to 94 points lower as we head into USDA”s first official supply/demand forecast for 2024/25 crop cotton. Futures resumed their slide on Thursday, down 93 to 168 points....

CTN24 : 77.71 (-1.13%)
CTV24 : 77.43 (-0.41%)
CTZ24 : 75.52 (-1.23%)
Cotton Pushes Lower Despite Solid Export Sales Data

The cotton market continued their slide on Thursday, as were down 93 to 168 points on Thursday. That was despite a round of positive export data for the bulls. Cotton limits are back to 3 cents with July...

CTN24 : 77.71 (-1.13%)
CTV24 : 77.43 (-0.41%)
CTZ24 : 75.52 (-1.23%)
Sugar Prices Settle Mixed on Higher Brazil Sugar Production Estimates

July NY world sugar #11 (SBN24 ) on Thursday closed down -0.02 (-0.10%), and Aug London ICE white sugar #5 (SWQ24 ) closed up +2.70 (+0.47%). Sugar prices Thursday settled mixed. Thursday's action by...

SBN24 : 19.36 (-1.12%)
SWQ24 : 570.50 (-0.89%)
^USDBRL : 5.15410 (+0.24%)
Cocoa Prices Finish Higher on Global Cocoa Shortages

July ICE NY cocoa (CCN24 ) on Thursday closed up +61 (+0.71%), and July ICE London cocoa #7 (CAN24 ) closed up +39 (+0.52%). Cocoa prices recovered from early losses on Thursday and posted moderate gains....

CCN24 : 8,896 (+2.31%)
CAU24 : 7,095s (+1.18%)
Coffee Prices Climb on Insufficient Rain in Vietnam and Brazil

July arabica coffee (KCN24 ) on Thursday closed up +3.90 (+1.97%), and July ICE robusta coffee (RMN24 ) closed up +25 (+0.73%). Coffee prices on Thursday settled moderately higher. Insufficient rainfall...

KCN24 : 200.45 (-0.50%)
RMN24 : 3,443 (+0.12%)
Will World Sugar Futures Find a Bottom?

World sugar futures rose 2.69% in 2023 and were 9.43% higher in Q1 2024. In early Q2, the world sugar futures declined to below 20 cents per pound, the lowest price since early 2023. Given the price action...

CCN24 : 8,896 (+2.31%)
SBN24 : 19.36 (-1.12%)
CANE : 11.88 (-0.84%)
Cotton Heading Lower Despite Positive Export Sales Data

The cotton market continued to slide, as midday action had futures down 82 to 116 points on Thursday. That is despite a round of positive export data for the bulls. The outside market influences are helpful...

CTN24 : 77.71 (-1.13%)
CTV24 : 77.43 (-0.41%)
CTZ24 : 75.52 (-1.23%)
Sugar Prices Mixed on Higher Brazil Sugar Production Estimates

July NY world sugar #11 (SBN24 ) this morning is down -0.06 (-0.31%), and Aug London ICE white sugar #5 (SWQ24 ) is up +1.40 (+0.24%). Sugar prices today are mixed. Today's action by Datagro to raise...

SBN24 : 19.36 (-1.12%)
SWQ24 : 570.50 (-0.89%)
^USDBRL : 5.15410 (+0.24%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Soft Signal Strength.

Key Turning Points

3rd Resistance Point 20.75
2nd Resistance Point 20.49
1st Resistance Point 20.10
Last Price 19.71s
1st Support Level 19.45
2nd Support Level 19.19
3rd Support Level 18.80

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52-Week High 26.76
Fibonacci 61.8% 23.86
Fibonacci 50% 22.97
Fibonacci 38.2% 22.07
Last Price 19.71s
52-Week Low 19.17

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