Food Business News - June 16, 2015 - (Page 62)

Ingredient Markets Market commentary for one-week period ended June 12, 2015 Sweeteners Sugar markets remained mostly quiet last week. Prices were unchanged. Numerous inquiries for 2016 resulted in limited new sales with prices often above buyers' expectations. U.S. bulk refined beet sugar prices for nearby through September were steady at 34@36c a lb f.o.b. Midwest. Bulk refined cane sugar prices held at 34.5@37c f.o.b. Offers for 2015-16 and calendar 2016 were unchanged at 33.5@35c a lb f.o.b. Midwest and 36@37c f.o.b. West coast. Trading for the current year was mostly fill-in. There was light ongoing activity for 2016. Mexican sugar was offered at steady to firm prices nearby, but trading was slower than expected. Longer-term offers from Mexico were not evident. The U.S. Department of Agriculture in its June 10 World Agricultural Supply and Demand Estimates forecast the U.S. sugar carryover on Oct. 1, 2015, at 1,807,000 short tons, raw value, up 12% from 1,607,000 tons forecast in May. The carryover on Oct. 1, 2016, was projected at 1,533,000 tons, down 14,000 tons from May and down 15% from this year. The 2015-16 ending stocks-to-use ratio was projected at 12.6%, unchanged from May and compared with 15% for the current year, which was up from 13.2% as the May forecast. The higher carryover forecast for the current year (2014-15) was the result of a 33,000-ton boost in forecast beet sugar production to 4,795,000 tons, a 58,000-ton increase in tariff-rate quota imports to 1,586,000 tons, and a 109,000-ton reduction in deliveries for food use to 11,750,000 tons. For 2015-16, projected beginning stocks were boosted by 200,000 tons from May to 1,807,000 tons, beet sugar production was raised by 270,000 tons from May to 5,040,000 tons, imports from Mexico were reduced by 595,000 tons, or 28%, to 1,521,000 tons, and deliveries for food were reduced by 110,000 tons, to 11,875,000 tons. Changes in the U.S.D.A.'s Mexican sugar supply-and-use forecasts indicated tight supplies this year, which raised concerns about Mexican sugar exports to the United States this summer. The U.S.D.A. lowered current-year sugar production from May by 60,000 tonnes, actual weight, to 5.940 million tonnes, which was more in line with trade estimates. Ending stocks for 2014-15 were lowered 7% from May to 847,000 tonnes. Ending stocks for 2015-16 were raised 59% from May mainly due to lower exports. Spot offers of corn sweetener products were lacking, and supplies remained tight. Some buyers noted delays in receiving contracted shipments with little or no explanation. Users were becoming more frustrated with the supply situation. Exports to Mexico were active with shipments in the first six months (OctoberMarch) of the marketing year up 6% from the same period a year earlier. FBN Beet and cane sugar f.o.b. plant, cents per lb - Change from - June 12 June 5 May 29 Midwest beet 34.00 @ 36.00 - - Pacific beet 39.00 @ 43.00 - - Cane* 34.50 @ 37.00 - - Year ago 35.00 38.00 36.00 *Spot raw plus 7% plus 7.55c with 2% cash discount. Raw cane Delivered refiner, cents per lb - Change from - Contract June 12 June 5 May 29 Nearby 24.55 +.20 -.20 July-September 24.55 -.05 -.25 October-December 24.55 -.30 -.25 January-March 24.55 -.25 -.25 April-June 24.90 -.15 +.05 July-September 25.40 +.25 +.25 Year ago 25.45 25.55 25.95 26.10 26.00 26.05 I.C.E. No. 11 raw sugar futures cents per lb 19 17 15 13 11 J S D M Sweeteners Delivered basis, cents per lb HFCS spot price1 Midwest Northeast Southeast Southwest West June 12 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 * 62 FOODBUSINESSNEWS ® June 16, 2015

Table of Contents for the Digital Edition of Food Business News - June 16, 2015

Food Business News - June 16, 2015
Wet weather affecting grain and oilseed markets
WhiteWave to acquire Vega Foods
Dairy Business News - Making salty cheese with less sodium
Table of Contents
Web Contents
Editorial - Expo Milano focuses on food science
The leading natural food trends of 2015
Wal-Mart building an ‘omnichannel’ presence
B&G Foods has big plans for Bear Creek soup brand
With charges, Smucker swings to loss
Smucker seeks growth with healthy innovation
Campbell to acquire fresh salsa maker
Hughes out as Boulder Brands c.e.o.
Private equity firm buys PopCorners brand
Subway commits to ingredient improvements
Washington - Resistance is futile
Health and Wellness - Clean label and the 'trust factor'
Ingredient Innovations - Pace picks up for pea protein power
Pick your plant-based protein
I.F.F. to stress flavors for protein sources
New Food Products
Ingredient Market Trends - House votes to repeal COOL
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - June 16, 2015