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Sugar #11 Jul '24 (SBN24)

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Sugar #11 Futures Market News and Commentary

Sugar Prices Slump as Supply Concerns Fade

July NY world sugar #11 (SBN24) on Thursday closed down -0.32 (-1.72%), and Aug London ICE white sugar #5 (SWQ24) closed down -6.10 (-1.12%).

Sugar prices Thursday added to this week's losses, with NY sugar falling to a 1-1/2 year nearest-futures low and London sugar dropping to a 1-1/4 year low on the outlook for ample global sugar supplies.

Ramped-up sugar production in Brazil is hammering sugar prices.  Unica reported Wednesday that Brazil's sugar production in the second half of April jumped +84.0% y/y to 1,843 MMT, and for the 2024/25 marketing year (Apr-Mar) sugar production rose +65.9% y/y to 2.558 MMT.  Brazil's sugar mills have boosted their cane crushing for sugar at the expense of ethanol production as they crushed 46.96% of sugarcane this year for sugar, up from 41.42% of cane used last year.

For the 2023/24 marketing year that just ended, Unica reported on April 19 that Brazilian sugar output rose +25.7% y/y to 42.425 MMT.  Meanwhile, Conab, Brazil's c... 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 (45 days)
Expiration Date
06/28/24 (42 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
438,212 (-21,884)
463,388 (-26,528)
Non-Commercials - Long / Short
200,063 (+492)
171,502 (+12,236)
Producers - Long / Short
292,492 (-19,505)
316,074 (-27,844)
Swap Dealers - Long / Short
105,572 (-2,605)
107,166 (+1,090)
Managed Money - Long / Short
134,181 (-1,460)
139,289 (+9,854)
Other Reportables - Long / Short
65,882 (+1,952)
32,213 (+2,382)
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 +1.45%
on 05/16/24
20.00 -8.95%
on 05/07/24
-1.06 (-5.50%)
since 04/17/24
3-Month
17.95 +1.45%
on 05/16/24
22.59 -19.39%
on 02/27/24
-4.14 (-18.52%)
since 02/16/24
52-Week
17.95 +1.45%
on 05/16/24
25.54 -28.70%
on 11/07/23
-4.35 (-19.28%)
since 05/17/23

More Sugar #11 Quotes

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Most Recent Stories

More News
Cocoa Nears Bearish ABCD Pattern

Downside target zones at 5898-5526 and 4600-3611.

Cotton Posts Thursday Strength

The cotton market was back up on Thursday to post gains of 83 to 105 points at the close. The outside market factors are a mixed bag, with crude oil up another 71 cents and the US dollar index back 193...

CTN24 : 76.63 (+0.51%)
CTV24 : 76.20s (+1.24%)
CTZ24 : 75.58 (+0.52%)
Sugar Prices Slump as Supply Concerns Fade

July NY world sugar #11 (SBN24 ) on Thursday closed down -0.32 (-1.72%), and Aug London ICE white sugar #5 (SWQ24 ) closed down -6.10 (-1.12%). Sugar prices Thursday added to this week's losses, with NY...

SBN24 : 18.20 (-0.71%)
SWQ24 : 535.60 (-0.11%)
Cocoa Settles Sharply Lower as Volatile Price Moves Continue

July ICE NY cocoa (CCN24 ) on Thursday closed down -450 (-5.74%), and July ICE London cocoa #7 (CAN24 ) closed down -325 (-4.96%). Cocoa prices posted sharp losses on Thursday as the market continued its...

CCN24 : 7,562 (+2.29%)
CAU24 : 6,063 (+3.41%)
Arabica Coffee Closes Lower as ICE Coffee Inventories Recover

July arabica coffee (KCN24 ) on Thursday closed down -1.50 (-0.75%), and July ICE robusta coffee (RMN24 ) closed up +18 (+0.53%). Coffee prices on Thursday settled mixed. A rebound in ICE coffee inventories...

KCN24 : 199.30 (+0.71%)
RMN24 : 3,448 (+0.82%)
^USDBRL : 5.12910 (-0.01%)
Cotton Rallying Despite Weaker Export Sales Data

The cotton market is trading with 131 to 176 point gains on Thursday’s midday. The outside market factors are a mixed bag, with crude oil up another 48 cents and the US dollar index back 113 points higher....

CTN24 : 76.63 (+0.51%)
CTV24 : 76.20s (+1.24%)
CTZ24 : 75.58 (+0.52%)
Sugar Prices Hammered on the Outlook for Abundant Supplies

July NY world sugar #11 (SBN24 ) today is down -0.25 (-1.34%), and Aug London ICE white sugar #5 (SWQ24 ) is down -4.10 (-0.76%). Sugar prices today extended this week's slide, with NY sugar posting a...

SBN24 : 18.20 (-0.71%)
SWQ24 : 535.60 (-0.11%)
Cocoa Sharply Lower as a Lack of Liquidity Sparks Volatile Price Moves

July ICE NY cocoa (CCN24 ) this morning is down -467 (-5.95%), and July ICE London cocoa #7 (CAN24 ) is down -314 (-4.79%). Cocoa prices today are sharply lower as the market continues its volatile price...

CCN24 : 7,562 (+2.29%)
CAU24 : 6,063 (+3.41%)
Coffee Prices Mixed on Higher ICE Coffee Inventories and Brazilian Real Strength

July arabica coffee (KCN24 ) this morning is down -0.60 (-0.30%), and July ICE robusta coffee (RMN24 ) is up +2 (+0.06%). Coffee prices today are mixed. A rebound in ICE coffee inventories from historically...

KCN24 : 199.30 (+0.71%)
RMN24 : 3,448 (+0.82%)
^USDBRL : 5.12910 (-0.01%)
Cotton Bounce Extending into Thursday

The cotton market is up 84 to 119 points to start the Thursday session. Most contracts showed gains on Wednesday, with futures up 8 to 78 points. The outside market factors were helpful, with crude oil...

CTN24 : 76.63 (+0.51%)
CTV24 : 76.20s (+1.24%)
CTZ24 : 75.58 (+0.52%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 19.37
2nd Resistance Point 19.01
1st Resistance Point 18.67
Last Price 18.19
1st Support Level 17.97
2nd Support Level 17.61
3rd Support Level 17.27

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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 18.19
52-Week Low 17.95

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