ICE US · Softs · Futures
ICE Sugar No. 11 (SB) is the world raw-sugar benchmark: 112,000 pounds, delivered FOB at the port of origin.
Source: ICE Futures U.S. contract specifications · reviewed Sep 30, 2026
| Contract | Roll date | First notice | Last trading day | Days left |
|---|---|---|---|---|
| SBV26 Oct 2026 | Wed, Sep 23, 2026 | n/a | Wed, Sep 30, 2026 | 1 |
| SBH27 Mar 2027 Active | Fri, Feb 19, 2027 | n/a | Fri, Feb 26, 2027 | 150 |
| SBK27 May 2027 | Fri, Apr 23, 2027 | n/a | Fri, Apr 30, 2027 | 213 |
| SBN27 Jul 2027 | Wed, Jun 23, 2027 | n/a | Wed, Jun 30, 2027 | 274 |
| SBV27 Oct 2027 | Thu, Sep 23, 2027 | n/a | Thu, Sep 30, 2027 | 366 |
| SBH28 Mar 2028 | Tue, Feb 22, 2028 | n/a | Tue, Feb 29, 2028 | 518 |
Roll. The date shown is five business days before the last trading day; volume usually moves to the next month around then.
First notice day. No separate first notice day – delivery is scheduled after the last trading day. Brokers require positions to be closed or rolled before expiry, usually several days earlier.
Last trading day. Last business day of the month before the delivery month.
US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15 · Mar 26 · May 31 · Jun 18
Calculated from exchange rules and the US exchange holiday calendar. Confirm with the ICE Futures U.S. expiration calendar.
| Session | Eastern (ET) | Central (CT) | Your time |
|---|---|---|---|
| ICE trading hours | Mon–Fri 3:30 a.m. – 1:00 p.m. | Mon–Fri 2:30 a.m. – 12:00 p.m. | – |
Holiday hours differ – check the exchange holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).
| Contract | Maintenance |
|---|---|
| SBV26 Oct 2026 | $1,120 |
| SBH27 Mar 2027 Active | $1,064 |
| SBK27 May 2027 | $930 |
| SBN27 Jul 2027 | $818 |
Exchange margins are the minimum your clearing firm must collect for positions held overnight. Brokers may require more – and usually offer much lower day-trading margins for positions closed before the session ends. A neutral broker day-margin comparison is coming soon.
−340,141 net contracts
+4,951 vs. prior week · −29.6% of OI
Movement (6 wk): −9
Producers, merchants, processors and users hedging physical business – the classic commercials. They tend to buy weakness and sell strength.
+123,044 net contracts
+15,998 vs. prior week · +10.7% of OI
Movement (6 wk): −13
Swap dealers – banks hedging OTC swaps, including commodity index money. Often structurally positioned; read against their own range, not the sign.
+216,629 net contracts
−8,801 vs. prior week · +18.9% of OI
Movement (6 wk): +32
Managed money – CTAs, commodity pools and hedge funds. Trend followers; their positioning tends to peak near turning points.
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Producers / Merchants | 221,007 | 561,148 | −340,141 | +4,951 | −61,016 | 2 | 1 | −9 |
| Swap Dealers | 251,023 | 127,979 | +123,044 | +15,998 | +1,850 | 19 | 66 | −13 |
| Managed Money | 313,924 | 97,295 | +216,629 | −8,801 | +18,612 | 95 | 95 | +32 |
| Other Reportables | 49,032 | 101,257 | −52,225 | −9,310 | +35,658 | 31 | 31 | +0 |
| Nonreportables | 105,073 | 52,380 | +52,693 | −2,838 | +4,896 | 89 | 92 | +24 |
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Commercials | 489,710 | 706,807 | −217,097 | +20,949 | −59,166 | 5 | 12 | −31 |
| Non-Commercials | 362,956 | 198,552 | +164,404 | −18,111 | +54,270 | 95 | 86 | +30 |
| Nonreportables (small) | 105,073 | 52,380 | +52,693 | −2,838 | +4,896 | 89 | 92 | +24 |
| Report date | Producers / Merchants | Swap Dealers | Managed Money | Other Reportables | Nonreportables | Open interest |
|---|---|---|---|---|---|---|
| Sep 22, 2026 | −340,141 | +123,044 | +216,629 | −52,225 | +52,693 | 1,147,767 |
| Sep 15, 2026 | −345,092 | +107,046 | +225,430 | −42,915 | +55,531 | 1,219,523 |
| Sep 8, 2026 | −312,352 | +99,323 | +238,684 | −80,498 | +54,843 | 1,276,579 |
| Sep 1, 2026 | −302,362 | +111,264 | +233,771 | −102,246 | +59,573 | 1,275,546 |
| Aug 25, 2026 | −279,125 | +121,194 | +198,017 | −87,883 | +47,797 | 1,251,139 |
| Aug 18, 2026 | −250,519 | +127,531 | +138,613 | −60,661 | +45,036 | 1,174,925 |
| Aug 11, 2026 | −213,662 | +157,740 | +43,584 | −16,197 | +28,535 | 1,115,157 |
| Aug 4, 2026 | −129,920 | +189,439 | −87,188 | +18,720 | +8,949 | 1,055,808 |
| Jul 28, 2026 | −112,362 | +193,565 | −116,424 | +31,795 | +3,426 | 1,032,923 |
| Jul 21, 2026 | −126,548 | +187,163 | −102,682 | +38,192 | +3,875 | 1,015,444 |
| Jul 14, 2026 | −131,178 | +189,441 | −102,817 | +40,672 | +3,882 | 1,000,488 |
| Jul 7, 2026 | −130,997 | +186,412 | −108,650 | +49,377 | +3,858 | 997,547 |
Source: CFTC Public Reporting Environment · contract market code 080732 (SUGAR NO. 11 - ICE FUTURES U.S.)
Before commissions and exchange fees. Prices round to the nearest tick of 0.01.
One tick is 0.01 cent per pound, worth $11.20 per contract. A 1-cent move is worth $1,120.
The COT Index places a group's current net position within its own range over a lookback window: 100 = the most net long in that window, 0 = the most net short. It measures positioning extremes, not timing.