It is hard to imagine a world without sugar. In fact, with no sugar, all life would be wiped out since DNA and RNA are made up of sugar. Perhaps because we can't imagine life without it, sugar has had a significant impact on world history. The first noted production of sugar took place in the Indian subcontinent thousands of years ago, but it was not until we invented mass-production and transportation did the sugar market expand to international importance. Brazil is, without a doubt, the highest producer of sugar to date. Today, sugar granules largely come from sugar cane or sugar beet.
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Sugar Futures Contract Specifications
|Contract Size||112,000 pounds|
|Price Quotation||Cents and hundredths of a cent per pound to two decimal places|
|Contract Months||March, May, July and October|
|Minimum Fluctuation||1/100 cent/lb., equivalent to $11.20 per contract.|
|Settlement Procedure||Physical Delivery, FOB receiver’s vessel|
|Grade/Standards/Quality||Raw centrifugal cane sugar based on 96 degrees average polarization.|
|Daily Price Limit||none|
|Delivery Growths||Growths of Argentina, Australia, Barbados, Belize, Brazil, Colombia, Costa Rica, Dominican Republic, El Salvador, Ecuador, Fiji Islands, French Antilles, Guatemala, Honduras, India, Jamaica, Malawi, Mauritius, Mexico, Mozambique,Nicaragua, Peru, Republic of the Philippines, South Africa, Swaziland, Taiwan, Thailand, Trinidad, United States, and Zimbabwe.|
|Delivery Points||A port in the country of origin or in the case of landlocked countries, at a berth or anchorage in the customary port of export.|
|First Day Notice||First business day after last trading day.|
|Last Trading Day||First business day after last trading day.|
|Last Notice Day||Last business day of the month preceding the delivery month (except January, which is the second business day before the 24th calendar day of the prior month).|
Source: ICE Group
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Softs Market News
- Sugar futures pinched by bets for stronger sales: [May 09 04:05 AM] Sugar futures were slipping on Thursday, dropping to their lowest level in about 90 days amid conjecture about increased sales from the globe's refiners, according to Bloomberg. Read more
- Cocoa futures climb after slumping one day prior: [Apr 23 04:09 AM] Speculation about strong sales in the top-growing region was pushing cocoa futures up on Tuesday, according to Bloomberg. Read more
- Coffee futures bounce back: [Feb 20 06:51 AM] Arabic coffee futures bounced back on Wednesday as sentiment grew that recent losses for the soft commodity were overdone, according to Bloomberg. Read more
- Cameroon cocoa exports climb : [Feb 19 09:25 AM] Shipments of cocoa from a West African nation drove nearly 15 percent higher during the five-month period leading up to the end of this past January as compared to the same period last year, according to the nation's board for the soft commodity. Read more
- Cocoa futures gain as rainfall drops on West Africa: [Feb 13 08:03 AM] Wednesday saw cocoa futures climb in value amid generators of the soft commodity taking action to capitalize on reduced values by enhancing their supplies, according to Bloomberg. Read more
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