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Sugar #11 Jul '24 (SBN24)

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Sugar #11 Futures Market News and Commentary

Fund Short Covering Pushes Sugar Prices Sharply Higher

July NY world sugar #11 (SBN24) on Monday closed up +0.55 (+3.03%), and Aug London ICE white sugar #5 (SWQ24) closed up +16.10 (+3.01%).

Sugar prices Monday closed sharply higher as strength in the Brazilian real sparked fund short covering in sugar futures.  The real (^USDBRL) on Monday climbed to a 1-1/2 week high against the dollar, discouraging export sales from Brazil's sugar producers.  

An excessive short position by funds in NY sugar futures could exacerbate any short-covering rally.  Last Friday's weekly Commitment of Traders (COT) report showed funds boosted their net-short positions in NY sugar by 24,857 in the week ending May 14 to a nearly 4-year high of 72,541.

Ramped-up sugar production in Brazil is hammering sugar prices.  Last Thursday, NY sugar fell to a 1-1/2 year nearest-futures low, and London sugar dropped to a 1-1/4 year low on the outlook for ample global sugar supplies.  Unica reported last Wednesday that Brazil's sugar production in the se... 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 12:00p.m.) CST
Exchange
ICE/US
Point Value
$1,120
Margin/Maintenance
$2,217/2,016
First Notice Date
07/01/24 (41 days)
Expiration Date
06/28/24 (38 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
439,623 (+1,411)
451,082 (-12,306)
Non-Commercials - Long / Short
209,791 (+9,728)
183,900 (+12,398)
Producers - Long / Short
300,967 (+8,475)
308,014 (-8,060)
Swap Dealers - Long / Short
106,625 (+1,053)
111,037 (+3,871)
Managed Money - Long / Short
135,567 (+1,386)
151,079 (+11,790)
Other Reportables - Long / Short
74,224 (+8,342)
32,821 (+608)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
17.95 +3.40%
on 05/16/24
20.00 -7.20%
on 05/07/24
-0.94 (-4.82%)
since 04/19/24
3-Month
17.95 +3.40%
on 05/16/24
22.59 -17.84%
on 02/27/24
-3.55 (-16.06%)
since 02/21/24
52-Week
17.95 +3.40%
on 05/16/24
25.54 -27.33%
on 11/07/23
-3.87 (-17.25%)
since 05/19/23

More Sugar #11 Quotes

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Most Recent Stories

More News
Cocoa Prices Rebound on Concern Recent Losses Were Too Excessive

July ICE NY cocoa (CCN24 ) today is up +143 (+1.98%), and July ICE London cocoa #7 (CAN24 ) is up +97 (+1.62%). Cocoa prices today are moderately higher on concerns that recent losses have been excessive....

CCN24 : 7,385 (+2.34%)
CAZ24 : 5,114s (+0.91%)
Coffee Prices Surge on Crop Concerns in Brazil and Vietnam

July arabica coffee (KCN24 ) today is up +10.30 (+4.98%), and July ICE robusta coffee (RMN24 ) is up +181 (+5.17%). Coffee prices today surged to 3-week highs and are sharply higher. Concerns that excessive...

KCN24 : 217.20 (+5.08%)
RMN24 : 3,719 (+6.29%)
Cotton Reverting Lower on Tuesday

Cotton is trading 4 to 82 points lower so far on Tuesday morning. Futures were 4 to 14 points higher on Monday, with contracts past May 2025 down 2 to 15 points. The outside market factors were not supportive,...

CTN24 : 76.65 (+0.82%)
CTV24 : 76.31 (+0.46%)
CTZ24 : 75.48 (+0.63%)
Cotton Gets Small Pop on Monday

Cotton futures were 4 to 14 points higher on Monday, with contracts past May 2025 down 2 to 15 points. The outside market factors were not supportive, with crude oil down 35 cents and the US dollar index...

CTN24 : 76.65 (+0.82%)
CTV24 : 76.31 (+0.46%)
CTZ24 : 75.48 (+0.63%)
Crop Progress

Crop Progress - 2024-05-20

ZSN24 : 1231-4 (-1.32%)
ZSPAUS.CM : 11.7011 (-1.38%)
ZSBAUS.CM : -0.6138 (+0.26%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,138s (+0.32%)
XTN24 : 4,661s (+0.34%)
ZCN24 : 456-2 (-0.92%)
ZCPAUS.CM : 4.3250 (-0.97%)
ZCBAUS.CM : -0.2375 (+0.04%)
XVN24 : 2,455s (-0.37%)
XEU24 : 62.48 (-0.86%)
Fund Short Covering Pushes Sugar Prices Sharply Higher

July NY world sugar #11 (SBN24 ) on Monday closed up +0.55 (+3.03%), and Aug London ICE white sugar #5 (SWQ24 ) closed up +16.10 (+3.01%). Sugar prices Monday closed sharply higher as strength in the Brazilian...

SBN24 : 18.56 (-0.64%)
SWQ24 : 545.20 (-1.02%)
^USDBRL : 5.11480 (+0.21%)
Easing Supply Concerns Pressures Cocoa Prices

July ICE NY cocoa (CCN24 ) on Monday closed down -132 (-1.80%), and July ICE London cocoa #7 (CAN24 ) closed down -133 (-2.17%). Cocoa prices on Monday extended their month-long slide to 2-1/2 month lows...

CCN24 : 7,385 (+2.34%)
CAZ24 : 5,114s (+0.91%)
Coffee Prices Settle Mixed on Rising ICE Coffee Inventories

July arabica coffee (KCN24 ) on Monday closed up +0.10 (+0.05%), and July ICE robusta coffee (RMN24 ) closed down -19 (-0.54%). Coffee prices Monday fell back from 2-week highs and settled mixed. A rebound...

KCN24 : 217.20 (+5.08%)
RMN24 : 3,719 (+6.29%)
Cotton Heading Higher to Start the Week

Cotton futures are up 9 to 94 points at Monday’s midday. The outside market factors are not supportive, with crude oil down 49 cents and the US dollar index 90 points higher. The large managed money...

CTN24 : 76.65 (+0.82%)
CTV24 : 76.31 (+0.46%)
CTZ24 : 75.48 (+0.63%)
Sugar Prices Sharply Higher on Fund Short Covering

July NY world sugar #11 (SBN24 ) today is up +0.54 (+2.98%), and Aug London ICE white sugar #5 (SWQ24 ) is up +16.80 (+3.14%). Sugar prices today are sharply higher as strength in the Brazilian real (^USDBRL...

SBN24 : 18.56 (-0.64%)
SWQ24 : 545.20 (-1.02%)
^USDBRL : 5.11480 (+0.21%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 19.70
2nd Resistance Point 19.25
1st Resistance Point 18.96
Last Price 18.55
1st Support Level 18.22
2nd Support Level 17.77
3rd Support Level 17.48

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52-Week High 25.54
Fibonacci 61.8% 22.64
Fibonacci 50% 21.75
Fibonacci 38.2% 20.85
Last Price 18.55
52-Week Low 17.95

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