Sugar No. 16 Futures

Description

The Sugar No. 16 contract serves the hedging needs of U.S. sugar producers, end users and merchants. The contract prices physical delivery of US-grown (or foreign origin with duty paid by deliverer) raw cane sugar at one of five U.S. refinery ports as selected by the receiver.

Market Specifications

Trading Screen Product Name

Sugar No. 16 Futures

Trading Screen Hub Name

NYCC

Contract Symbol

SF

Contract Size

112,000 pounds (50 long tons)

Price Quotation

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

Contract Series

January, March, May, July, September and November

Minimum Price Fluctuation

1/100 of a cent per pound ($11.20/contract)

Settlement

Physical delivery, in a vessel berthed at a customary refiners berth.

Grade/Standards/Quality

Raw centrifugal cane sugar based on 96 degrees average polarization

Daily Price Limit

None

Deliverable Origins

Cane sugars of the United States, duty free foreign origin, duty paid and delivered in bulk.

Delivery Locations

New York, Baltimore, Galveston, New Orleans and Savannah.

First Notice Day

First business day after the last trading day.

Last Trading Day

Eighth calendar day of the month preceding the delivery month, or next succeeding Exchange business day, if the eighth day is not an Exchange business day.

Position Limit

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

MIC Code

IFUS

Clearing Venues

ICUS