The settlement of futures is not the settlement of margin, but the settlement of funds in your account. You are talking about the problem that the amount of loss is greater than the deposit.

The price of white sugar is 5485 yuan/ton =54850 yuan/hand; The margin of each futures brokerage company will be different. You should ask your futures broker, assuming here15%; Then the transaction price =8227.5 yuan/lot. Obviously, if you open more positions and the price of sugar drops by 15%, your loss will exceed the margin.

So how much the price falls beyond your margin (the so-called' short position' in the question) is the margin ratio stipulated by your futures broker.

Sugar is plus or minus 7%. If your margin ratio when trading is 15%, it is almost two daily limit boards.