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Sugar #11 Jul '23 (SBN23)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Fall to New 1-1/4 Year Low as Focus Remains on Surplus

October NY world sugar #11 (SBV24) on Wednesday closed down -0.25 (-1.38%), and Oct London ICE white sugar #5 (SWV24) closed down -3.80 (-0.72%).

NY sugar prices on Wednesday extended this month's plunge and fell to a new 1-1/4 year low. Sugar prices continue to suffer from increased Brazilian sugar production, the prospects for improved rain in India and Thailand, and estimates for a 2024/25 sugar surplus.

StoneX said Wednesday that it expects a global sugar surplus of 1.2 million MT for the 2024/25 season (Oct/Sep), down from its 2023/24 surplus estimate of 4.6 million MT.  Covrig Analytics said last Wednesday that it expects a 2024/25 global sugar surplus of +182,000 MT, versus its previous estimate of a -2.6 MMT deficit and its 2023/24 surplus estimate of 3.5 million MT.

Robust sugar output in Brazil, the world's largest producer, is negative for sugar prices.  Unica reported on July 11 that Brazil's sugar production for the 2024/25 crop year through June was u... 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
$1,416/1,288
First Notice Date
07/03/23
Expiration Date
06/30/23 (expired)

Seasonal Chart

Sugar #11 Jul '23
Average Price Chart for 5 Prior Jul 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
21.81 +4.95%
on 06/29/23
26.49 -13.59%
on 06/16/23
-2.44 (-9.63%)
since 05/30/23
3-Month
21.36 +7.16%
on 03/31/23
26.83 -14.69%
on 04/27/23
+1.39 (+6.47%)
since 03/30/23
52-Week
16.18 +41.47%
on 10/28/22
26.83 -14.69%
on 04/27/23
+4.95 (+27.59%)
since 06/30/22

More Sugar #11 Quotes

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Most Recent Stories

More News
Cotton Continues Slide on Thursday Morning

Cotton prices are down 47 to 55 this morning. Futures continue to be under pressure, with losses of 83 to 100 points in most contracts at Wednesday’s close. The US dollar index was weaker, down 90 points...

CTV24 : 67.13 (+0.18%)
CTZ24 : 68.26 (-0.57%)
CTZ24 : 68.26 (-0.57%)
Cotton and White Sugar is at their lowest carry yield scores for the past 52 weeks. Live Cattle is at its highest.

I am planning to sell a Live Cattle calendar this week and continue to hold a long White Sugar calendar spread

Cotton Collapses on Wednesday

Cotton futures continue to be under pressure, with losses of 83 to 100 points in most contracts at Wednesday’s close. The US dollar index was weaker, down 90 points at 104.085 for nearby futures. Crude...

CTV24 : 67.13 (+0.18%)
CTZ24 : 68.26 (-0.57%)
CTZ24 : 68.26 (-0.57%)
Sugar Prices Fall to New 1-1/4 Year Low as Focus Remains on Surplus

October NY world sugar #11 (SBV24 ) on Wednesday closed down -0.25 (-1.38%), and Oct London ICE white sugar #5 (SWV24 ) closed down -3.80 (-0.72%). NY sugar prices on Wednesday extended this month's plunge...

SBV24 : 18.60 (+3.85%)
SWV24 : 533.40 (+2.20%)
Cocoa Prices Continue to Fall Back on Demand Concerns

September ICE NY cocoa (CCU24 ) on Wednesday closed down -59 (-0.71%), and September ICE London cocoa #7 (CAU24 ) closed down -129 (-1.90%). Cocoa prices on Wednesday fell back for a second day on long...

CCU24 : 7,969 (-3.14%)
CAU24 : 6,493 (-2.76%)
Coffee Prices Sink to 2-week Lows

September arabica coffee (KCU24 ) on Wednesday closed down -7.95 (-3.32%), and Sep ICE robusta coffee (RMU24 ) closed down -154 (-3.44%). Arabica coffee prices fell sharply on Wednesday as technical selling...

KCU24 : 231.40 (+0.11%)
RMU24 : 4,350 (+0.53%)
Cotton Market Still Under Pressure on Production and Economic Concerns

Cotton futures continue to be under pressure, with triple digit losses in most contracts at midday. Ideas of improved yield potential linger from Monday. Prices are down 192 to 158 points as this is...

CTV24 : 67.13 (+0.18%)
CTZ24 : 68.26 (-0.57%)
CTZ24 : 68.26 (-0.57%)
Sugar Prices Fall to New 1-1/4 Year Low as Focus Remains on Surplus

October NY world sugar #11 (SBV24 ) today is down -0.29 8 (-1.54%), and Oct London ICE white sugar #5 (SWV24 ) is down -4.60 (-0.88%). NY sugar prices today extended this month's plunge and fell to a new...

SBV24 : 18.60 (+3.85%)
SWV24 : 533.40 (+2.20%)
Cocoa Prices Continue to Fall Back on Demand Concerns

September ICE NY cocoa (CCU24 ) today is down -15 (-0.18%), and September ICE London cocoa #7 (CAU24 ) is down -129 (-1.90%). Cocoa prices fell back for a second day on long liquidation pressure after...

CCU24 : 7,969 (-3.14%)
CAU24 : 6,493 (-2.76%)
Coffee Prices Sink to 2-week Lows

September arabica coffee (KCU24 ) today is down -7.65 (-3.20%), and Sep ICE robusta coffee (RMU24 ) is down -155 (-3.46%). Arabica coffee prices today are sharply lower as technical selling emerged with...

KCU24 : 231.40 (+0.11%)
RMU24 : 4,350 (+0.53%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 23.82
2nd Resistance Point 23.39
1st Resistance Point 23.14
Last Price 22.89s
1st Support Level 22.46
2nd Support Level 22.03
3rd Support Level 21.78

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52-Week High 26.83
Last Price 22.89s
Fibonacci 61.8% 22.76
Fibonacci 50% 21.51
Fibonacci 38.2% 20.25
52-Week Low 16.18

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