Milling & Baking News - November 7, 2017 - 44

Ingredient Week

Sweeteners

Beet and cane sugar

Cash sugar prices were firm to 1c a lb
higher last week as some major processors and refiners raised prices amid tight
supplies and slow imports from Mexico.
A major beet processor raised its offer
1c to 35.5c a lb f.o.b. Midwest last week,
matching another processor already at that
price. Both indicated sales were occurring
at that level, and 35.5c a lb appeared to be
the market. There were indications of prices
as low as 33.5c a lb f.ob. still available from
one seller. At the same time, another processor offered beet sugar at 38c a lb f.o.b. based
on reduced production to date and competition with refined cane sugar.
Beet processors were extremely well sold
for 2017-18 with some turning business
away and one already withdrawn from the
market. Processors indicated most large accounts had completed booking for 2017-18,
but some medium and smaller accounts
continued to book, adding that volume
booked by large users mostly was flat with
2016-17 but many small and medium-size
users were buying more sugar this year.
Sugar beets were an aggregate 87% harvested in the four largest producing states
as of Oct. 29, slightly ahead of 85% last year
and 86% as the 2012-16 average for the date,

f.o.b. plant, cents per lb
- Change from -
Nov. 3
Oct. 27 Oct. 20
Midwest beet 33.50 @ 35.50
-
-
Paciﬁc beet* 39.00 @ 40.00
-
-
N.E. cane**
37.00 @ 38.00 +1.00 +1.00

Year
ago
28.50
34.00
34.00

*Delivered **Spot raw plus 7% plus 7.7c with 2% cash discount.

Raw cane
Delivered reﬁner, cents per lb
- Change from -
Contract
Nov. 3 Oct. 27 Oct. 20
Nearby
27.20
-.10
+.17
November-December 27.20
-.10
+.17
January-March
27.25
+.05
+.25
April-June
27.10
-
+.10
July-September
27.10
-
+.18
October-December 26.75
-
-.05

Year
ago
28.95
28.95
28.90
28.75
28.45
28.25

I.C.E. No. 11 raw sugar futures
cents per lb

24
20
16
12
N

Sweeteners
Delivered basis, cents per lb
42% HFCS spot price1
Midwest
Northeast
Southeast
Southwest
West

Nov. 3
23⅞@ 24⅞
25¼@ 26¼
25⅜@ 26⅜
25@ 26
25⅞@ 27⅞

Year ago
22⅜@ 23⅜
23¾@ 24¾
23⅞@ 24⅞
23½@ 24½
24⅜@ 26⅜

HFCS list price2
42% HFCS wet
28.250
30.500
30.000
29.500
30.750

55% HFCS wet
34.250 net
36.750 net
36.500 net
36.000 net
37.250 net

Regular
corn
syrup3
34.25
36.50
36.50
37.50
38.75

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

the U.S. Department of Agriculture said.
Beets were 98% harvested in both Minnesota and North Dakota, compared with
95% and 97%, respectively, as the five-year
averages, with Idaho at 79% (76% as the average) and Michigan at 47% (53%). In other
states, beets were 62% harvested in Colorado (70% as the average), 86% in Wyoming
(73%), 78% in Montana (83%).
The lagging harvest in Michigan was
the result of warm weather that prevented piling of beets, and hard, dry soil that
made lifting beets difficult, sources said.
Harvesting now was proceeding well
with cooler weather and recent rainfall
that softened the soil. Sugar content was
said to be good, but tonnage was down
due to dry conditions earlier in the year.
Bulk refined cane sugar prices also
were firm to 1c higher, mostly from 36c
to 37c a lb f.o.b. in the Southeast, 37c to
38c a lb f.o.b. in the Northeast and holding at 41c to 42c a lb delivered on the
West coast with sources expecting prices
there also will soon be raised.
Louisiana sugar cane was 33% harvested as of Oct. 29, up from 28% a week
earlier and ahead of 32% a year ago and
30% as the 2012-16 average, the U.S.D.A.
said. The Florida sugar cane harvest continued where conditions were dry enough.
Sources still contended cane losses in Florida from Hurricane Irma were closer to 7%
than the official estimate of about 5%.
Traders noted increased offers from Mexico comparable to U.S. refined prices as the
harvest there approached and details for
export licenses were being worked out.
Contracting of liquid corn sweeteners for 2018 was completed except for
month-to-month buyers. Booking of dry
dextrose continued at a slow pace. MBN

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FDA Approved Fiber Source*
99% Total Dietary Fiber
Pure white in color
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44 / November 7, 2017

Milling & Baking News

*Based on the FDA final list published May 2016 of approved sources that are
proven to have physiological effectsbakingbusiness.com
that are beneficial to
human health.
/ world-grain.com

http://www.Sweetenersupply.com

Milling & Baking News - November 7, 2017

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