Description

The Sugar No. 11 contract is the world benchmark contract for raw sugar trading. The contract prices the physical delivery of raw cane sugar, free-on-board the receiver's vessel to a port within the country of origin of the sugar.

Market Specifications

Trading Screen Product Name

Sugar No. 11 Futures

Trading Screen Hub Name

NYCC

Contract Symbol

SB

Contract Size

112,000 pounds

Price Quotation

Cents and hundredths of a cent per pound to two decimal places

Contract Listing

March, May, July and October

Minimum Price Movement

1/100 cent/lb., equivalent to $11.20 per contract.

Settlement

Physical delivery, FOB receiver's vessel

Grade/Standards/Quality

Raw centrifugal cane sugar based on 96 degrees average polarization.

Daily Price Limit

None

Deliverable 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.

*French Antilles will not be a deliverable origin commencing with the July 2016 expiry.

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 Notice Day

First business day after last trading day.

Last Notice Day

First business day after last trading day.

Last Trading Day

Last business day of the month preceding the delivery month

Position Limits

Position Limit and Position Accountability information for all IFUS products can be found here.

MIC Code

IFUS

Clearing Venues

ICUS