Food Business News - February 9, 2016 - (Page 46)

Ingredient Markets Market commentary for one-week period ended February 5, 2016 Sweeteners Bulk refined sugar prices were steady to weaker last week, mostly due to beet processors still trying to sell supply from the ample 2015 beet crop. Less weakness was noted in cane sugar given support from continued interest in nonbioengineered supply as well as from slow shipments of cane sugar from Mexico. Bulk refined beet sugar prices for nearby through Sept. 30, 2016, were adjusted down 1c to 31@32c a lb, f.o.b. plant. Some large processors noted most sales at 32c a lb, but others indicated sales dipping to 31c or slightly below in some cases to match competitive offers. Beet processors had 2015-crop sugar to sell, and some had become more aggressive in pricing in recent weeks in an effort to move unsold supply. Deterioration in beet piles of some processors due to warmer-than-normal weather through December was not characterized as significant, especially in view of the large 2015 beet crop. Pricing and sales of beet sugar for 2017 were about 1c above 2016 levels at 32c to mostly 33c a lb f.o.b. plant, sources said. Bulk refined cane sugar prices were mixed with some regional differences noted. Values in the South were a bit softer with the bottom of the price range lowered 1c to 32c a lb f.o.b. plant. The top of the range was left unchanged at 35c a lb, based on the listed offering price from at least one refiner, although actual trades were indicated below the offer level. At the same time, some traders indicated possible firmness in cane prices, mainly in the Northeast. Unlike beet sugar, cane supplies have been a bit tighter. Good demand for non-bioengineered cane sugar and slow shipments of refined cane sugar from Mexico have contributed to the tighter supply situation. The fact that ample domestic supplies of beet sugar are available, albeit from bioengineered seed, complicated efforts to get more non-bioengineered cane sugar into the United States via traditional import quotas. Some relief was expected as Mexico's cane harvest gains momentum. Cane sugar users also were concerned about flooding in Florida's key cane producing region. Florida's state U.S.D.A. office and newspaper reports said heavy rainfall delayed the sugar cane harvest, disrupted schedules and impeded planting in recent weeks. There does not appear to be an impact on the refined sugar market at this point as cane refiners indicated they had sufficient raw sugar stocks to maintain refined sugar production even if the harvest was interrupted. Prices of sugar delivered to the West coast were unchanged with some buyers still concerned about the availability of non-bioengineered cane sugar. Corn sweetener markets were quiet, and shipments of contracted material were moving as scheduled, although some buyers still had difficulty getting quotes for spot material. FBN Beet and cane sugar f.o.b. plant, cents per lb - Change from - Feb. 5 Jan. 29 Jan. 22 Midwest beet 31.00 @ 32.00 -1.00 -1.00 Pacific beet 37.00 @ 38.00 - - Cane* 32.00 @ 35.00 -1.00 -1.00 Year ago 36.00 40.00 36.00 *Spot raw plus 7% plus 6.3c with 2% cash discount. Raw cane Delivered refiner, cents per lb Contract Nearby February-March April-June July-September October-December January-March - Change from - Feb. 5 Jan. 29 Jan. 22 25.25 -.05 -.35 25.25 -.05 -.35 25.20 -.20 -.50 25.25 -.25 -.53 25.50 -.10 -.30 25.45 -.05 -.05 Year ago 24.55 24.55 24.85 25.05 25.30 25.10 I.C.E. No. 11 raw sugar futures cents per lb 18 16 14 12 10 F M A N Sweeteners Delivered basis, cents per lb HFCS spot price1 2015 prices Midwest Northeast Southeast Southwest West Feb. 5 22⅜@ 23⅜ 23¾@ 24¾ 23⅞@ 24⅞ 23½@ 24½ 24⅜@ 26⅜ HFCS list price2 42% HFCS wet Year ago 26.750 18⅞@ 19⅞ 29.000 20¼@ 21¼ 28.500 20⅜@ 21⅜ 28.000 20@ 21 29.250 20⅞@ 22⅞ 55% HFCS wet 31.750 net 34.250 net 34.000 net 33.500 net 34.750 net Regular corn syrup3 31.75 34.00 34.00 35.00 36.25 Dextrose East 39.00@41.00 Midwest 38.00@40.00 West 41.00@43.00 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 * 46 FOODBUSINESSNEWS ® February 9, 2016

Table of Contents for the Digital Edition of Food Business News - February 9, 2016

Food Business News - February 9, 2016
Mondelez expects snack sales to slow
Starbucks ‘firing on all cylinders’ in C.P.G.
Beverage Business News - Boosting the nutrition profile of beverages
Table of Contents
Web Contents
Editorial - Trust and the rising bar for ‘achieving’ food safety
Survey finds natural labels may mislead consumers
‘The U.S. consumer has changed’
Take the lead in transparency
ChemChina to acquire Syngenta for $43 billion
A new venture for PepsiCo
Chipotle focusing on recovery, food safety
Coca-Cola takes stake in Nigerian business
SuperValu picks new president, c.e.o.
Madagascar 2 - Vanilla prices soar again
Nestle in talks to acquire Israel’s largest food company
Global challenges weigh on Hershey’s earnings
Court sides with Dannon, General Mills in yogurt case
Market Insight - Beef is bouncing back
Ingredient Trends - Plant protein applications evolving
Ingredient Innovations - Three considerations when choosing emulsifiers
Emulsion innovation extends beverage stability
New Food Products
Ingredient Market Trends - Ethanol fuels fireworks in the Iowa Republican caucus
Ingredient Markets
Supplier Innovations and News
Ad Index

Food Business News - February 9, 2016