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Sugar #11 Oct '23 (SBV23)

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Sugar #11 Futures Market News and Commentary

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 to 1-1/2 month lows.  Projections for a global sugar surplus weighed on prices after Covrig Analytics said 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 also negative for sugar prices.  Unica reported on July 11 that Brazil's sugar production for the 2024/25 crop year through June was up +15.7% y/y at 14.2 MMT.  Also, the percentage of Brazil's 2024/25 sugar cane crop crushed for sugar rose to 48.72% from 47.69% last year.  

Sugar prices are also under pressure after the Indian Sugar and Bio-energy Manufacturers Association (ISM) on July 3 reported India's 2023/24 sugar reserves at 9.1 MMT and reported a surp... 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
10/02/23
Expiration Date
09/29/23 (expired)

Seasonal Chart

Sugar #11 Oct '23
Average Price Chart for 5 Prior Oct 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
25.02 +5.00%
on 08/31/23
27.62 -4.89%
on 09/19/23
+0.82 (+3.22%)
since 08/29/23
3-Month
22.17 +18.49%
on 06/30/23
27.62 -4.89%
on 09/19/23
+4.19 (+18.98%)
since 06/29/23
52-Week
16.23 +61.86%
on 10/31/22
27.62 -4.89%
on 09/19/23
+9.67 (+58.25%)
since 09/29/22

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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 : 18.38 (-1.50%)
SWV24 : 533.70 (-1.39%)
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NY Coffee Prices Fall on Rapid Brazilian Harvest

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CTZ24 : 70.96 (+0.37%)
Sugar Prices Undercut by Projections for a Global Sugar Surplus

October NY world sugar #11 (SBV24 ) today is closed down -0.33 (-1.74%), and Oct London ICE white sugar #5 (SWV24 ) is down -5.30 (-0.97%). Sugar prices today added to this week's sell-off and fell to...

SBV24 : 18.38 (-1.50%)
SWV24 : 533.70 (-1.39%)
Cocoa Prices Sharply Lower on Ideal Crop Conditions in West Africa

September ICE NY cocoa (CCU24 ) today is down -380 (-4.71%), and September ICE London cocoa #7 (CAU24 ) is down -258 (-3.90%). Cocoa prices today gave up an early advance and turned sharply lower on improved...

CCU24 : 7,969 (+3.64%)
CAU24 : 6,542 (+3.22%)
Coffee Prices Retreat as Brazil's Coffee Harvest Picks Up Pace

September arabica coffee (KCU24 ) today is down -3.70 (-1.54%), and Sep ICE robusta coffee (RMU24 ) is down -10 (-0.22%). Coffee prices today fell to 1-week lows and are moderately lower. Coffee harvest...

KCU24 : 239.40 (+0.50%)
RMU24 : 4,518 (-0.26%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 27.25
2nd Resistance Point 27.02
1st Resistance Point 26.65
Last Price 26.27s
1st Support Level 26.05
2nd Support Level 25.82
3rd Support Level 25.45

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52-Week High 27.62
Last Price 26.27s
Fibonacci 61.8% 23.27
Fibonacci 50% 21.92
Fibonacci 38.2% 20.58
52-Week Low 16.23

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