Milling & Baking News - December 19, 2017 - 44

Ingredient Week

Sweeteners

Beet and cane sugar

Cash sugar markets were seasonally
quiet. Prices were unchanged with a firm
tone. The U.S. Department of Agriculture
in its Dec. 12 World Agricultural Supply
and Demand Estimates report forecast record high 2017-18 U.S. sugar production.
The U.S.D.A. projected U.S. sugar
production in 2017-18 at 9,245,000 short
tons, raw value, up 5% from November
and up 3.1% from 2016-17, with beet
sugar record high at 5,359,000 tons, up
409,000 tons, or 8%, from November and
up 5% from 2016-17, and cane sugar unchanged at 3,886,000 tons. The previous
beet sugar record was 5,119,000 tons in
2015-16, and the prior total sugar record
was 9,032,000 tons in 1999-00.
The U.S. sugar carryover on Oct. 1,
2018, was forecast at 1,802,000 tons, up
27,000 tons, or 1.5%, from November but
down 34,000 tons, or 1.9%, from 1,836,000
tons estimated for 2017. The 2017-18 ending stocks-to-use ratio was revised up to
14.3% from 14.1% in November but was
below 14.8% as the ratio for 2016-17.
Total sugar supply in 2017-18 was
forecast at 14,407,000 tons, up 27,000 tons
from November and up 140,000 tons, or
1%, from last year. Projected 2017-18

f.o.b. plant, cents per lb
- Change from -
Dec. 15
Dec. 8 Dec. 1
Midwest beet 35.00 @ 36.00
-
-
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 7.9c with 2% cash discount.

Raw cane
Delivered reﬁner, cents per lb
- Change from -
Contract
Dec. 15 Dec. 8 Dec. 1
Nearby
27.00
+.30
-.20
January-March
27.00
+.17
-.15
April-June
27.05
-.05
-.20
July-September
27.05
-
-.15
October-December 27.00
-
-
January-March
26.70
-.20
-.20

Year
ago
29.25
29.25
29.35
29.35
28.35
27.40

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

24
20
16
12
D

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

Dec. 15
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

use was unchanged from November at
12,605,000 tons, including 12,400,000
tons for food, up 2.3% from last year.
Beet sugar prices were firm at 35c to 36c
a lb f.o.b. Midwest nearby through the remainder of 2017-18 (Sept. 30, 2018), with
the market mostly between 35.5c and 36c
a lb f.o.b. The U.S.D.A. beet sugar forecast
had little if any impact as most processors
already were well sold and in some cases
were sold out for the marketing year with
some smaller and medium-size users still
looking for sugar.
Bulk refined beet sugar for 2018-19
was available around 34c a lb f.o.b Midwest. Southeast refined cane sugar was
offered around 35.5c a lb f.o.b. for next
year. About 20% of potential business
was said to be completed for next year.
Bulk refined cane sugar for 2017-18
was 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
Concerns and doubts persisted as to
whether Mexico would be able to export
to the United States the full amount of
raw sugar required in the countervailing duty and anti-dumping suspension
agreements between the two countries.
Some export pressure was reduced as the
U.S.D.A. boosted its 2017-18 forecast of
U.S. beet sugar production, thus lowering
the amount of sugar needed from Mexico.
The U.S.D.A. forecast total sugar imports
from Mexico at 1,268,000 short tons, raw
value, down 426,000 tons from November. Some suggest Mexico may not be
able to export more than 1 million tons of
sugar this year of which 70% must be raw.
Bookings of dry dextrose continued at
a slow pace as was the case last year. MBN

Cellulose Fiber-
The Choice is Natural

Non-GMO
FDA Approved Fiber Source*
99% Total Dietary Fiber
Pure white in color
Non-Allergenic

888-SUGAR-99 * Sweetenersupply.com

44 / December 19, 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 - December 19, 2017

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