White Sugar Futures

Description

The White Sugar futures contract is used as the global benchmark for the pricing of physical white sugar. It is actively traded by the international sugar trade, sugar millers, refiners, and end-users (manufacturers) as well as by managed funds and both institutional and short-term investors.

Market Specifications

Trading Screen Product Name

White Sugar Future

Trading Screen Hub Name

ICEU

Contract Symbol

W

Contract Size

Fifty Tonnes

Price Quotation

Dollars and cents per metric tonne

Contract Series

March, May, August, October, December, such that eight delivery months are available for trading

Minimum Price Fluctuation

10 cents per tonne ($5)

Settlement

Physical Delivery

Delivery Locations

FOB and stowed in vessel’s hold in a designated port in one of the following countries of origin: Algeria, Argentina, Australia, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Egypt, El Salvador, France, Germany, Guatemala, India, Italy, Korea, Malaysia, Mauritius, Mexico, Morocco, Mozambique, The Netherlands, Pakistan, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sudan, Thailand, Turkey, U.A.E., Ukraine, U.K. and U.S.A.

Grade/Standards/Quality

White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery, free running of regular grain size and fair average of the quality of deliveries made from the declared origin from such crop, with minimum polarisation 99.8 degrees, moisture maximum 0.06% and colour of a maximum 45 units ICUMSA attenuation index, all at time of delivery to vessel at the port.

Daily Price Limit

None

Deliverable Origins

White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery.

First Notice Day

Fifteen calendar days preceding the first day of the delivery period (if not a business day then the first business day following). Delivery period is the specified delivery month and the following delivery month.

Last Trading Day

Sixteen calendar days preceding the first day of the delivery month at 17:55 (if not a business day then the first business day immediately preceding)

Last Notice Day

Fifteen calendar days preceding the first day of the delivery period (if not a business day then the first business day following). Delivery period is the specified delivery month and the following delivery month.

Delivery Limits

Delivery limits for IFEU Softs can be found here.

Markers

TAS (Trade at Settlement)

MIC Code

IFLX

Clearing Venues

ICEU