Milling & Baking News - November 21, 2017 - 44

Ingredient Week

Sweeteners

Beet and cane sugar

Cash sugar prices were unchanged with
a continued firm tone as sales appeared to
slow ahead of the holiday week. The sugar
beet harvest was winding down while
sugar cane harvest was ongoing.
Beet sugar prices mostly ranged from
35c to 36c a lb f.o.b. Midwest with sales
continuing across the range. One processor remained at 38c a lb f.o.b. due to
competition with refined cane in select
markets and lower production this year.
While most business was completed
for 2017-18, there still were users needing sugar, trade sources noted. In some
cases, buyers have resisted current price
levels, especially in the case of sharply
higher beet sugar prices. Those still
needing sugar tended to be small and
medium-size users, with most large accounts said to be well covered. With the
prospect that supplies may tighten further as the year progresses, processors
urged buyers to complete coverage.
The sugar beet harvest was in its final
stages. Harvesting in the four major states
was 97% completed as of Nov. 12, up from
92% a week earlier and compared with
93% last year and 97% as the 2012-16 average for the date, the U.S. Department of

f.o.b. plant, cents per lb
- Change from -
Nov. 17
Nov. 10 Nov. 3
Midwest beet 35.00 @ 36.00
-
+1.50
Paciﬁc beet* 39.00 @ 40.00
-
-
N.E. cane**
37.00 @ 38.00
-
-

Year
ago
28.50
34.00
34.00

*Delivered **Spot raw plus 7% plus 7.6c with 2% cash discount.

Raw cane
Delivered reﬁner, cents per lb
- Change from -
Contract
Nov. 17 Nov. 10 Nov. 3
Nearby
27.25
+.20
+.05
December
27.25
+.20
+.05
January-March
27.30
+.20
+.05
April-June
27.28
+.13
+.18
July-September
27.20
+.13
+.10
October-December 26.98
+.10
+.23

Year
ago
28.80
28.80
28.85
28.65
28.35
27.95

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. 17
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

Agriculture said. Harvesting was completed
in Minnesota and North Dakota and was
95% completed in Idaho (96% as the average) and 85% in Michigan (90%). In other
states still reporting progress, beets were
92% harvested in Colorado (same as the average) and 96% in Oregon (92% last year).
Bulk refined cane sugar remained firm
with prices unchanged at 36c to 37c a lb
f.o.b. in the Southeast, at 37c to 38c a lb
f.o.b. in the Northeast and at 41c to 42c a
lb delivered on the West coast.
Louisiana sugar cane was 51% harvested with promising tonnage and
sugar yields in the week ended Nov.
12, slightly ahead of 50% last year and
48% as the five-year average, the state
U.S.D.A. field office said. Florida's
U.S.D.A. field office said sugar cane harvesting and planting continued.
Pricing for 2018-19 indicated beet sugar
at 34c a lb f.o.b. Midwest and refined cane
sugar around 35.5c a lb f.o.b. Southeast.
There remained considerable concern
about raw sugar shipments from Mexico
under the new suspension agreement
guidelines that require 70% raw sugar
and 30% refined. Trade sources said Mexican mills and exporters still were struggling with how to produce and export
sufficient amounts of raw sugar, since
their industry is geared toward refined.
Traders also noted some uncertainty about
domestic demand. Although the U.S.D.A.
in its Nov. 9 supply-and-demand report
reduced deliveries for food based on lower
numbers for September, which were affected in part by hurricane disruptions, deliveries rebounded strongly in October.
Contracting of liquid corn sweeteners
for 2018 was completed. Booking of dry
dextrose continued at a slow pace. MBN

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44 / November 21, 2017

Milling & Baking News

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

http://www.Sweetenersupply.com

Milling & Baking News - November 21, 2017

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