Sugar was first thought to have been produced in Polynesia and later India, around 500 BC. It is primarily derived from sugar-cane, but other sugar sources include sugar beets, the date palm, sorghum, and the sugar maple. Sugar No. 11 is an extremely popular global sugar product. It is used in food and candy, rum, and even the fuel additive ethanol. In 1982, Sugar No. 11 was the first U.S. Exchange-traded agricultural commodity traded since 1936.

Now, the New York Mercantile Exchange has made available a No. 11 sugar futures contract for trading on the CME Globex® trading platform and for clearing through NYMEX ClearPort® clearing.

The size of each contract is 112,000 pounds and its commodity code is YO. It is financially settled, and the final settlement price shall be set on the last day of trading for the contract month based on the last day of trading in the corresponding month for the New York Board of Trade No. 11 sugar futures contract. The Exchange will publish a final settlement price which will be set at the value of the New York Board of Trade No. 11 sugar futures contract on the termination day of the contract month, or as specified by the Board of Directors.