Intercontinental Exchange : Amendments to the Sugar No. 16 Futures Contract Rules
ICE
Published on 06/20/2025 at 15:11
June 20, 2025
Effective with the January 2027 expiration1, ICE Futures U.S. is amending certain terms and conditions of the Sugar No. 16 futures contract. Rule 29.00(b) is being amended to raise the maximum starch content for grades deliverable at par to 250 ppm, and Rule
29.13 to adjust the premiums and discounts for "color-whole raw" and the discounts for starch content above 250 ppm.
The amended Rules can be found in the Attachment. Complete Rules for the Sugar No. 16 futures and options contracts can be found here.
FOR MORE INFORMATION
Shawn Somers
(212) 748-4025
1 Pending regulatory review
ATTACHMENT
(In the text of the amendments below, additions are underscored, and deletions are bracketed and lined through.)
No contract for the future delivery of Sugar No. 16 shall be recognized, acknowledged or enforced by the Exchange, or any Committee or officer thereof, unless both parties thereto shall be Members, provided, however, that Members shall offer their contracts for clearance to the Clearing Organization which shall become by substitution a party thereto in place of a Member, and thereupon such Clearing Organization shall become subject to the obligations thereof and entitled to all the rights and privileges of a Member in holding, fulfilling or disposing thereof.
The grades deliverable under Sugar No. 16 shall be raw centrifugal cane sugar based on 96 degrees average polarization outturn, Standard Quality Range as stated below or otherwise as provided in Rules 29.12 and 29.13:
* * *
I.C.U.M.S.A. Color Units
Method 4 (1978) Modified* Between 3000 and 5000
Starch Content Not exceeding [249] 250 ppm
[REMAINDER OF RULE UNCHANGED]
The percentage discount or premium per pound for variances from the specifications set forth in Rule 29.00(b) shall be determined pursuant to the following table, it being understood that discounts and premiums for variances from standard quality shall be applied separately for each specification and that fractions shall be in proportion:
Specification
* * *
Color-Whole Raw
I.C.U.M.S.A. Color Units Method 4 (1978) Modified*
For each 25 units above 5000 up to and including 6000, deduct [0.0015] 0.03 percent of basis price. For each 25 units above 6000 up to and including 7000, deduct an additional [0.003] 0.028 percent of basis price. For each 25 units above 7000 up to and including 8000, deduct an additional [0.006] 0.023 percent of basis price. For each 25 units above 8000 and up to and including 9000, deduct an additional [0.009] 0.036 percent of basis price. For each 25 units above 9000, deduct an additional [0.012] 0.024 percent of basis price.
For each 25 units below 3000, add 0.0018 percent of basis price.
*See Sugar No. 16 Resolution No. 1.
*See Sugar No. 16 Resolution No. 1.
* * *
Starch Content
SPRI Rapid Starch Method (I.C.U.M.S.A. method GS1-17)
For each 1 ppm above 250 ppm up to and including 400 ppm deduct 0.017% of basis price.
For each 1ppm above 400 ppm deduct an additional 0.034% of the basis price. [For Starch Content of from 250 to 300 ppm, a deduction of 0.02 cents per pound.]
[For Starch Content of from 301 to 400 ppm, a deduction of 0.06 cents per pound.]
[For Starch Content of from 401 to 500 ppm, a deduction of 0.11 cents per pound.]
[For Starch Content of more than 500 ppm, a deduction of 0.14 cents per pound.]
[REMAINDER OF RULE UNCHANGED]
Disclaimer
ICE - Intercontinental Exchange Inc. published this content on June 20, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 20, 2025 at 19:10 UTC.