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Sugar #11 May '24 (SBK24)

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Sugar #11 Futures Market News and Commentary

Sugar Finishes Sharply Higher as Brazil Wildfires Damage Some Sugar Crops

October NY world sugar #11 (SBV24) Friday closed up +0.54 (+3.03%), and Oct London ICE white sugar #5 (SWV24) closed up +13.60 (+2.66%).

Sugar prices Friday rallied sharply to 1-week highs.  Sugar prices rose on carryover support from Thursday when Conab, Brazil's government crop forecasting agency, cut its 2024/25 Brazil Center South sugar production estimate to 42 MMT from a previous forecast of 42.7 MMT, citing lower sugarcane yields due to drought and excessive heat.  Separately, in the 2024/25 marketing year through July, Brazil's Center-South sugar production was up by +8% y/y at 20.753 MMT, according to a Unica report last Tuesday.

Sugar prices extended their gains Friday on reports that drought has caused wildfires and damaged some sugar crops in Brazil's top sugar-producing state of Sao Paulo.

Optimism that above-average monsoon rains in India will lead to a bumper sugar crop is a bearish factor for sugar prices.  The Indian Meteorological Department repor... 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
$1,305/1,187
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 Aug 20, 2024

View Chart Details
Commercials - Long / Short
446,314 (+10,164)
459,608 (-9,565)
Non-Commercials - Long / Short
188,316 (-562)
169,012 (+14,696)
Producers - Long / Short
296,984 (+8,877)
336,491 (-4,871)
Swap Dealers - Long / Short
108,032 (+2,667)
81,819 (-3,314)
Managed Money - Long / Short
113,608 (-3,326)
135,726 (+12,708)
Other Reportables - Long / Short
74,708 (+2,764)
33,286 (+1,988)
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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Sugar Finishes Sharply Higher as Brazil Wildfires Damage Some Sugar Crops

October NY world sugar #11 (SBV24 ) Friday closed up +0.54 (+3.03%), and Oct London ICE white sugar #5 (SWV24 ) closed up +13.60 (+2.66%). Sugar prices Friday rallied sharply to 1-week highs. Sugar prices...

SBV24 : 18.39s (+3.03%)
SWV24 : 525.70s (+2.66%)
NY Cocoa Prices Underpinned by Global Supply Fears

September ICE NY cocoa (CCU24 ) Friday closed up +132 (+1.36%), and September ICE London cocoa #7 (CAU24 ) closed down -62 (-0.98%). NY cocoa prices settled mixed on Friday, with NY cocoa posting a 2-month...

CCZ24 : 7,811s (+0.79%)
CAZ24 : 5,467s (-0.04%)
Robusta Coffee Soars to a Record High on Vietnam Production Woes

December arabica coffee (KCZ24 ) Friday closed up +4.40 (+1.81%), and Sep ICE robusta coffee (RMU24 ) closed up +225 (+4.59%). Coffee prices Friday recovered from early losses and moved higher, with robusta...

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Cotton Rallying with Outside Help

Cotton futures are trading 132 to 170 points higher across the front months on Friday’s midday. Outside markets are supportive, with the US dollar index down 604 points and below $101. Crude oil futures...

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Sugar Prices Jump as Wildfires in Brazil Damage Some Sugar Crops

October NY world sugar #11 (SBV24 ) today is up +0.46 (+2.58%), and Oct London ICE white sugar #5 (SWV24 ) is up +12.90 (+2.52%). Sugar prices today are sharply higher and posted 1-week highs. Sugar prices...

SBV24 : 18.39s (+3.03%)
SWV24 : 525.70s (+2.66%)
NY Cocoa Rallies on West African Weather Concerns

September ICE NY cocoa (CCU24 ) today is up +132 (+1.36%), and September ICE London cocoa #7 (CAU24 ) is down -62 (-0.98%). NY cocoa prices today are mixed, with NY cocoa posting a 2-month high as dry...

CCZ24 : 7,811s (+0.79%)
CAZ24 : 5,467s (-0.04%)

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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