Sugar futures on ICE advanced to 18.5 cents per pound, hovering around three-week highs amid poor weather conditions, a strong Brazilian real, and large reported amounts of bargain-buying and short-covering from commodity funds. Earlier in August, sugar futures plummeted to their lowest in one year after Brazilian state-owned Petrobras cut gasoline prices twice in the span of three weeks, accumulating to an 8.6% decrease in the gasoline price on the month. On top of that, the rise in costs of living ahead of the upcoming election drove the Brazilian government to postpone its compliance with renewable fuel targets, further pressuring demand for biofuels. The consequent downturn in ethanol prices will make biofuel blending less profitable, swinging the allocation of sugarcane for producers to crush sugar instead.

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

Sugar is expected to trade at 18.25 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 17.24 in 12 months time.

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Sugar



Price Day Month Year
Soybeans 1,448.75 -45.25 -3.03% 3.72% 5.83%
Wheat 783.03 -17.72 -2.21% -3.66% 6.61%
Lumber 592.00 3.10 0.53% -7.62% 29.77%
Cheese 1.98 0.0030 0.15% -10.79% 23.90%
Palm Oil 4,182.00 57.00 1.38% 6.01% -5.13%
Milk 20.19 0.03 0.15% -10.47% 24.86%
Cocoa 2,340.00 -20.00 -0.85% 0.47% -10.24%
Cotton 123.25 3.81 3.19% 22.73% 28.79%
Rubber 149.40 -0.90 -0.60% -5.02% -15.83%
Orange Juice 174.10 -2.05 -1.16% 14.61% 28.82%
Coffee 219.00 -6.50 -2.88% 1.25% 22.38%
Oat 438.28 -21.9702 -4.77% -8.69% -13.64%
Wool 1,342.00 0 0% -3.31% -2.19%
Rice 17.01 -0.0700 -0.41% -0.38% 26.29%
Canola 810.00 -26.40 -3.16% -5.35% -11.79%
Sugar 18.33 -0.21 -1.13% -5.56% -8.44%
Tea 3.02 0 0% 6.71% 5.59%
Corn 608.77 -17.9779 -2.87% -0.57% 9.05%


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.
Actual Previous Highest Lowest Dates Unit Frequency
18.34 18.54 65.20 1.25 1912 - 2022 Cents/LB Daily