Raw sugar futures on ICE traded at the $18.8 level, the highest in two weeks, as commodity funds ceased their sell-offs amid lower supply outlooks among major producers. Dealers stated that commodity funds have ceased liquidating their long positions, initially sold off due to strong harvests in Thailand and Brazil, amid production and supply-chain issues in India. Lower sugar prices during the start of 2022 prompted Indian mills to divert sugarcane towards ethanol production instead of sugar milling, hampering future supply. At the same time, low availability in railway wagons increased freight costs in the world’s second largest producer due to high demand from other critical sectors, such as coal, and higher diesel prices.

Historically, Sugar reached an all time high of 65.20 in November of 1974. Sugar - data, forecasts, historical chart - was last updated on January of 2022.

Sugar is expected to trade at 21.22 Cents/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 24.50 in 12 months time.

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Sugar


Price Day Month Year
Soybeans 1,415.00 -9.2500 -0.65% 5.99% 7.87%
Wheat 778.50 -6.0000 -0.76% -4.36% 22.70%
Lumber 1,143.70 -45.00 -3.79% 11.86% 43.68%
Cheese 1.90 0.0020 0.11% 7.72% 14.00%
Palm Oil 5,322.00 135.00 2.60% 19.65% 62.16%
Milk 20.29 0.04 0.20% 9.97% 25.56%
Cocoa 2,576.00 -84.00 -3.16% 4.46% 1.86%
Cotton 120.75 -2.12 -1.73% 10.95% 48.05%
Rubber 232.30 -4.40 -1.86% 4.64% -31.27%
Orange Juice 155.95 -1.05 -0.67% 5.91% 33.40%
Coffee 240.75 -2.90 -1.19% 5.48% 90.39%
Oat 620.00 -21.0000 -3.28% -10.60% 79.58%
Wool 1,392.00 -1.00 -0.07% 2.50% 15.81%
Rice 14.83 0.0800 0.54% 5.18% 11.68%
Canola 1,019.60 -2.40 -0.23% -0.29% 55.19%
Sugar 18.95 0.02 0.11% 1.12% 18.07%
Tea 2.78 0 0% -9.15% -11.18%
Corn 617.75 7.0000 1.15% 2.53% 23.43%


Sugar
The Sugar No. 11 contract is the world benchmark contract for raw sugar trading and is available on The Intercontinental Exchange (ICE). The size of each contract is 112,000 pounds. The biggest producer and exporter of sugar in the world is Brazil (21% of total production and 45% of total exports). A significant amount of sugar is also produced in India, European Union, China, Thailand and the United States. The sugar prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.