Food Business News - April 21, 2015 - (Page 49)

Market commentary for one-week period ended April 17, 2015 Sweeteners The domestic sugar market was mostly quiet as buyers eagerly took shipments from Mexico. Prices were mostly steady and generally higher than buyers hoped with the recent settlement of the trade case against Mexico resulting in a surge in exports in March. U.S. Census Bureau and U.S. Department of Agriculture data indicated February sugar shipments from Mexico tripled from January to more than 65,000 tonnes, raw value. Shipments were forecast to increase at least 2.5 times in March to near 160,000 tonnes. Trade sources said shipments will need to surpass 200,000 tonnes monthly for the rest of the marketing year (through September) to meet the export quota set in the suspension agreements signed last December by the Department of Commerce and approved March 19 by the International Trade Commission. Offers of Mexican sugar were ample and varied. Prices were mostly unchanged from a week earlier. New sales were moderate to active and building. Some Mexican mills were seeking large numbers of trucks to move sugar across the border while rail logistics were being worked out. U.S. bulk refined beet sugar prices were unchanged with offers for the current year at 36c a lb f.o.b. Midwest and as low as 33c a lb f.o.b. in the East/Northeast for spot shipment from a select processor. Some processors were sold out for this year, but most still had some sugar available. Beet processors said buyers continued to draw forward on contracted supply as Mexican sugar still was not available in quantities needed. Domestic refined cane sugar offers were about 1c above beet sugar. Offers for 2015-16 were unchanged at 35c a lb f.o.b. Midwest. West coast sugar prices were slightly weaker with ample offers from Mexico, although shipments still were limited. A number of buyers balked at offers for both domestic and Mexican sugar that they saw as too high. But brokers noted the heavy early draw on domestic beet sugar will need to be supplemented with Mexican supply in the second half of the year, which will keep supplies balanced but not heavy. Sugar beets in the four major states were 15% planted as of April 12, ahead of 4% last year and about even with the fiveyear average. Beets were 40% planted in Idaho, 11% in Minnesota and 12% in North Dakota, with strong progress noted in the key Red River Valley last week. Of the top four states, only Michigan was behind with no beets planted as of April 12 (36% as the average for the date) due to wet conditions. Harvesting of a bumper sugar cane crop was nearly completed in Florida. The Louisiana cane crop continued to improve. Corn sweetener markets were routine and seasonally quiet. FBN Beet and cane sugar f.o.b. plant, cents per lb - Change from - Apr. 17 Apr. 10 Apr. 3 Midwest beet 35.50 @ 36.00 - - Pacific beet 39.00 @ 41.00 -1.00 -1.00 Cane* 35.50 @ 37.00 - - Year ago 31.00 32.00 33.00 *Spot raw plus 7% plus 8.6c with 2% cash discount. Raw cane Delivered refiner, cents per lb Contract Nearby May-June July-September October-December January-March April-June - Change from - Apr. 17 Apr. 10 Apr. 3 24.50 - +.65 24.50 - +.65 24.60 +.10 +.30 24.55 +.15 - 24.45 - +.05 24.75 -.10 -.20 Year ago 24.65 24.65 24.65 24.75 24.65 24.65 I.C.E. No. 11 raw sugar futures cents per lb 20 18 16 14 12 A J O J Sweeteners Delivered basis, cents per lb HFCS spot price1 Midwest Northeast Southeast Southwest West Apr. 17 18⅞@ 19⅞ 20¼@ 21¼ 20⅜@ 21⅜ 20@ 21 20⅞@ 22⅞ HFCS list price2 42% HFCS wet Year ago 23.250 16⅜@ 18⅜ 25.500 17¾@ 19¾ 25.000 17⅞@ 19⅞ 24.500 17½@ 19½ 25.750 18⅜@ 21⅜ 55% HFCS wet 27.250 net 29.750 net 29.500 net 29.000 net 30.250 net Regular corn syrup3 27.250 29.500 29.500 30.500 31.750 Dextrose East 37.00@39.00 Midwest 36.00@38.00 West 39.00@41.00 1-Variations in prices often tied to tank car versus truck deliveries. 2-Prices are the lowest available to the publication. 3-Regular 42 DE/43 Baume, f.o.b. tank cars, trucks Delicious Honey. 100% Pure & Natural. We offer Pails, Drums, Totes and Tanker Trucks. Our 24/7 manufacturing facility is strategically located in the Midwest. We are FSSC 22000 and Kosher Certified. Honey Products: Amber, Light Amber, Extra Light Amber, Organic Honey 888-SUGAR-99 * April 21, 2015 FOODBUSINESS NEWS ® 49

Table of Contents for the Digital Edition of Food Business News - April 21, 2015

Food Business News - April 21, 2015
Wal-Mart eyeing improvements
Drought dilemma for California agriculture
Antibiotics under greater scrutiny
Table of Contents
Web Contents
Editorial - Food’s share of spending declines
Reheating meat sales
A record year for specialty food sales
Innovation insights from Chobani
Target hires merchandiser to reinvent its food business
McDonald’s moves toward simpler ingredients
Tyson Foods to close Georgia plant
Bottled water drove beverage market growth in 2014
I.F.F. plans to buy Ottens Flavors
F.D.A. challenges Kind under ‘healthy’ labeling rules
U.S. organic food sales rise 11% in 2014
Daily’s to build bacon plant
Iconic hot sauce brand, assets acquired
Washington - Antibiotics under greater scrutiny
Health and Wellness - Subtracting sugar from formulations
Ingredient Innovations - Positive fiber signs from Europe
Study links fiber, whole grains to reduced risk of death
Dairy Business News - Hydrocolloids: Managing moisture and more
Ingredient Marketplace 2015
New Food Products
Ingredient Market Trends - Another new chapter for C.W.B.
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - April 21, 2015