LIFFE, London, FOB USD/mt

Unit of trading: Fifty tonnes

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:
- polarisation minimum 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.

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

Price basis: US dollars and cents per tonne 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, Columbia, Croatia, Cuba, Egypt, France, Germany, Guatemala, India, Italy, Korea, Malaysia, Mauritius, Mexico, Morocco, Mozambique, The Netherlands, Pakistan, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sudan, Thailand, Turkey, U.A.E., Ukraine, U.K. and U.S.A.1

Minimum price movement: (tick size and value) 10 cents per tonne ($5)

Last trading day: Sixteen calendar days preceding the first day of the delivery month (if not a business day then the first business day immediately preceding).

Notice day/Tender day: Fifteen calendar days preceding the first day of the delivery period (if not a business day then the first business day following)

Tender period: The specified delivery month and the following month

Trading hours: 08:45 - 17:30

CBOT Sugar No. 11 futures are traded on the New York Board of Trade under ticker symbol SB in cents and hundredths of a cent per pound.
The Chart at left shows the front-month Sugar No. 11 prices on the New York Board of Trade in cents and hundredths of a cent per pound.
The Number 11 in the contract refers the way shipping costs are handled between the buyer and the seller of the contract. Sugar #11 is sold "Free on Board (FOB)", which means the seller pays to ship the sugar to a port, and is responsible for loading costs. The buyer, however, is responsible for unloading costs.

Sugar #11 can be sugar originating from any one of 28 countries and the United States: 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 is to any port in the nation of origin.
Another sugar future contract, Sugar #14, differs primarily from Sugar #11 in the shipping terms for the contract. Sugar #14 Calls for delivery of cane sugar in bulk at named Atlantic and Gulf ports, Cost, Insurance and Freight (CIF) duty paid.
Delivery Dates: Sugar No. 11 futures are delivered every year in January, March, May, July, and October.
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