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Sugar #11 Mar '24 (SBH24)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Lower on Doubts About Global Economic Growth

October NY world sugar #11 (SBV24) today is down -0.40 (-2.14%), and Oct London ICE white sugar #5 (SWV24) is down -11.10 (-2.05%).

Sugar prices are lower today due to doubts about the global economic outlook after China was forced to cut interest rates and Japan's Cabinet Office last Friday cut its Japan 2024 GDP projection to +0.9% from a previous estimate of +1.3%.  Also, there is increased political uncertainty after President Biden on Sunday dropped out of the presidential race.  Sugar prices are also being undercut by continued weakness today in oil prices, which is negative for ethanol prices and thus positive for sugar production.

Sugar prices continue to be undercut by projections for a global sugar surplus.  Covrig Analytics said last Wednesday that it expects the 2024/25 global sugar market to be in surplus by +182,000 MT versus its previous estimate for a -2.6 MMT deficit.

Robust sugar output in Brazil, the world's largest producer, is negative for suga... 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
$1,663/1,512
First Notice Date
03/01/24
Expiration Date
02/29/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jul 16, 2024

View Chart Details
Commercials - Long / Short
424,395 (+6,664)
500,723 (+2,203)
Non-Commercials - Long / Short
177,958 (+2,616)
110,369 (+3,046)
Producers - Long / Short
281,621 (+3,224)
372,290 (+1,369)
Swap Dealers - Long / Short
108,559 (+511)
94,218 (-2,095)
Managed Money - Long / Short
114,448 (+1,801)
77,148 (+4,814)
Other Reportables - Long / Short
63,510 (+815)
33,221 (-1,768)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
22.11 +2.13%
on 02/22/24
24.42 -7.53%
on 02/09/24
-0.95 (-4.04%)
since 01/29/24
3-Month
20.03 +12.73%
on 12/26/23
26.85 -15.90%
on 11/30/23
-4.28 (-15.93%)
since 11/29/23
52-Week
19.56 +15.44%
on 03/01/23
28.14 -19.76%
on 11/07/23
+2.98 (+15.20%)
since 02/28/23

More Sugar #11 Quotes

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Most Recent Stories

More News
NY Coffee Prices Rally on Lack of Recent Rain in Brazil

September arabica coffee (KCU24 ) on Monday closed up +4.85 (+2.04%), and Sep ICE robusta coffee (RMU24 ) is up +51 (+1.13%). Coffee prices on Monday rallied after Somar Meteorologia reported that Brazil's...

KCU24 : 243.05s (+2.04%)
RMU24 : 4,581s (+1.13%)
Cotton Slipping on Monday

Cotton futures are down 5 to 10 points across most contracts on Monday. Crude oil is down 25 cents per barrel to add some pressure via the synthetic fiber market. President Biden announced he would not...

CTV24 : 70.04 (+0.09%)
CTZ24 : 70.67 (-0.04%)
CTZ24 : 70.67 (-0.04%)
Sugar Prices Lower on Doubts About Global Economic Growth

October NY world sugar #11 (SBV24 ) today is down -0.40 (-2.14%), and Oct London ICE white sugar #5 (SWV24 ) is down -11.10 (-2.05%). Sugar prices are lower today due to doubts about the global economic...

SBV24 : 18.30s (-1.93%)
SWV24 : 533.10s (-1.50%)
Cocoa Prices Rally Sharply on Concern about Ghana Sales Restrictions

September ICE NY cocoa (CCU24 ) today is up +651 (+8.47%), and September ICE London cocoa #7 (CAU24 ) is up +443 (+6.94%). Cocoa prices today are sharply higher on concern about Ghana's plan to ration...

CCU24 : 8,398s (+9.22%)
CAU24 : 6,842s (+7.95%)
NY Coffee Prices Rally on Lack of Recent Rain in Brazil

September arabica coffee (KCU24 ) today is up +6.15 (+2.58%), and Sep ICE robusta coffee (RMU24 ) is up +54 (+1.19%). Coffee prices are higher today after Somar Meteorologia reported that Brazil's Minas...

KCU24 : 243.05s (+2.04%)
RMU24 : 4,581s (+1.13%)
Cotton Getting Slight Pop on Monday

Cotton prices are showing 3 to 24 point higher trade on Monday morning. They were down 99 to 139 points at the Friday close, with thinly traded October the weakest but active December not far behind. ...

CTV24 : 70.04 (+0.09%)
CTZ24 : 70.67 (-0.04%)
CTZ24 : 70.67 (-0.04%)
Kansas Wheat butterfly spread and Robusta Coffee calendar spread

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Jim's take on reading and reacting to speculator open interest ratio to hedgers

ZSX24 : 1068-6s (+3.16%)
SOYB : 23.05 (+2.90%)
ZCU24 : 400-2s (+2.50%)
CORN : 18.21 (+2.09%)
TAGS : 25.60 (+0.99%)
DBA : 24.31 (+2.83%)
KCU24 : 243.05s (+2.04%)
CCU24 : 8,398s (+9.22%)
SBV24 : 18.30s (-1.93%)
CANE : 11.33 (-1.25%)
CTZ24 : 70.67 (-0.04%)
Cotton: You Just Can't Keep a Bear From Growling

Cotton prices were down 99 to 139 points at the close, with thinly traded October the weakest but active December not far behind. Crude oil was down $2.69 per barrel to add some pressure via the synthetic...

CTV24 : 70.04 (+0.09%)
CTZ24 : 70.67 (-0.04%)
CTZ24 : 70.67 (-0.04%)
Sugar Prices Finish Lower on Projections for a Global Sugar Surplus

October NY world sugar #11 (SBV24 ) on Friday closed down -0.28 (-1.48%), and Oct London ICE white sugar #5 (SWV24 ) closed down -4.30 (-0.79%). Sugar prices Friday added to this week's sell-off and slid...

SBV24 : 18.30s (-1.93%)
SWV24 : 533.10s (-1.50%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 25.04
2nd Resistance Point 24.51
1st Resistance Point 23.55
Last Price 22.58s
1st Support Level 22.06
2nd Support Level 21.53
3rd Support Level 20.57

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52-Week High 28.14
Fibonacci 61.8% 24.86
Fibonacci 50% 23.85
Fibonacci 38.2% 22.84
Last Price 22.58s
52-Week Low 19.56

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