OpenAgricultureSimulated priceReal-asset future · simulation

Sugar cane · Sao Paulo · Week 48 · Nov 23 - Nov 29

Sugar cane price index, 100 at listing · follows GDD-SBGR-26W48 · 2026-11-23 to 2026-11-29 · trading closes 11-29 03:00 (15 d)

This price is made by the demo. Weather Fi has no commodity price feed. The price on this page is an index the simulator builds from the linked weather index and a simulated market factor, to show how a real-asset future would trade beside a weather index future. It is not the price of sugar cane on any market, and it trades and settles in virtual sUSDT only.

Market price · simulated

101.38points · 100 at listing

Long 51.7¢ · Short 48.3¢ per share

Reference price: 99.11 ± 10.86; priced 23 min ago
Weather-implied: 100.01; market is +1.36 to it
Volume: 419; 15 traders
Open interest: 452 / 384; long / short shares

60 · long pays 0long pays 1 · 140

Market 101.38Reference 99.11Weather-implied 100.01

Listed at 100.00 · quoted by a market maker, no order book · one share moves 0.0125 sUSDT per price point

Where this price comes from

real weather × a simulated market

Cane grows faster in warm weather: the simulated price falls as growing degree days rise.

The weather it follows · real

GDD-SBGR-26W48Sao Paulo growing degree days · Week 48 · Nov 23 - Nov 29

Model index: 84.8; ± 14.2
Market index: 83.2; long 48¢
At listing: 85.8; this contract's base

Growing degree days from the station record and forecast. No day of the period is on the record yet.

The price · simulated

Listing level: 100.00
Weather effectindex 84.8 against 85.8 at listing: +0.6%× 1.0060
Market factorsimulated, stepped 23 min ago: -1.5%× 0.9852
Reference price: 99.11

One index point moves the price by -0.574 points. The weather effect is held to ±60%.

The market factor stands in for everything else that moves a commodity - supply, storage, freight, currencies. It is a random walk the simulator steps once an hour and freezes when trading closes. The sensitivity to the weather is an assumption of this simulation, not an estimate from market data.

Price and weather index, pass by pass

one point per hourly pricing pass

Market priceReference price (weather × market factor)GDD-SBGR-26W48 market indexGDD-SBGR-26W48 model index

The reference price moves when the weather index moves and when the market factor steps. The market price follows it as simulated participants trade, and spread traders close gaps between the two contracts.

Try a weather outcome

100 shares, bought at the current market price

Move the final GDD and see what a position here would make by itself, and what it would make with the weather exposure taken out by an offsetting position in GDD-SBGR-26W48.

Final GDD84.830model 84.8 · market 83.2140

Settlement price: 99.11; long share pays 0.489
This position alone: -2.83; 100 long SUGR
Weather hedge: +1.13; 78.90 long GDD
Hedged total: -1.70; sUSDT, both legs

This position aloneHedged with GDD-SBGR-26W48P&L in sUSDT against the final GDD

The hedged line is flat where both contracts are inside their bands: the weather is out of the result. What is left is the gap between the two markets today and the market factor, which is held here at its current -1.5% and is not hedged by a weather contract. Fills are taken at the quoted price, without the price impact of the trade.

Recent trades

Time	Trade	Shares	Amount	Avg price	Price after
11-13 19:50	Buy short	54.11	25.76	47.6¢	101.38
11-13 14:50	Buy long	19.25	10.17	52.8¢	102.46
11-13 05:50	Buy short	20.02	9.44	47.2¢	102.07
11-13 03:50	Buy short	44.74	20.74	46.4¢	102.47
11-13 01:50	Buy shortpair	25.04	11.39	45.5¢	103.36
11-12 23:50	Buy short	60.16	26.73	44.4¢	103.86
11-12 22:50	Buy short	66.35	28.45	42.9¢	105.05
11-12 21:50	Buy short	36.49	15.19	41.6¢	106.35
11-12 20:50	Buy long	82.49	47.69	57.8¢	107.05
11-12 19:50	Buy long	34.51	19.46	56.4¢	105.45
11-12 17:50	Buy long	61.52	33.96	55.2¢	104.77
11-12 13:50	Buy long	113.14	60.00	53.0¢	103.55
11-12 10:50	Buy long	49.71	25.35	51.0¢	101.30
11-12 08:50	Buy shortpair	18.18	8.98	49.4¢	100.30
11-12 06:50	Buy short	16.09	7.88	49.0¢	100.67

A trade marked pair is one leg of a simulated spread trade: the other leg is in the weather index contract this price follows.

Settlement

This contract settles right after GDD-SBGR-26W48 settles on the station record. The final price is the listing level of 100, moved by the weather effect at the final index and by the market factor as it stood when trading closed. If the weather contract is void, this one is void too and every position is refunded at cost.

Contract specification

Symbol: SUGR-SBGR-26W48
Underlying: Sugar cane price index, simulated by this demo. 100 on the day of listing.
Follows: GDD-SBGR-26W48 · Growing degree days
Hub: SBGR · Sao Paulo
Period: Week 48 · Nov 23 - Nov 29 · 2026-11-23 to 2026-11-29
Price: 100 x (1 + -0.50 x (index - 85.8) / 85.8) x market factor
Band: 60 to 140
Payoff: Long: (price - 60) / 80 sUSDT per share, held to 0..1. Short: 1 minus that.
Point value: 0.0125 sUSDT per share per price point
Trading closes: 2026-11-29 03:00 UTC
Settles: Right after GDD-SBGR-26W48 settles, no earlier than 2026-11-30 06:00 UTC
Settlement source: Computed by the simulator from the linked weather contract's final index and the simulated market factor. Not a market price.

Trade SUGR-SBGR-26W48

Long gains if the simulated price finishes above the level you pay for.

Spend (sUSDT)

Virtual sUSDT only. No monetary value.

Hedge the weather out

For every 100 long shares here, 78.90 long shares of GDD-SBGR-26W48 offset the weather part of this price. For a short position, take the other side.

What remains is the simulated market factor. The ratio moves with it, so it is recalculated at every pricing pass.

Open GDD-SBGR-26W48 →

Rules in short

The price is simulated by the demo from a real weather index and a simulated market factor. It is not a market price.
Long gains when the price finishes higher, short when it finishes lower. A long and a short share together always pay 1 sUSDT.
Outside the band 60 to 140 the contract pays as if the price had finished on the edge.
You pay in full when you buy. What you paid is the most you can lose: no margin, no liquidation.
You can sell back to the market maker at any time before trading closes.
Void, with every position refunded at cost, if the linked weather contract is void.

Full rules →