Milling & Baking News - March 29, 2016 - 52

Ingredient Week X

Sweeteners

Beet and cane sugar
f.o.b. plant, cents per lb
- Change from -
Mar. 24
Mar. 18 Mar. 11
Midwest beet 31.00 @ 31.50
-
-
Paciﬁc beet
37.00 @ 38.50
-
-
Cane*
32.50 @ 34.00
-
-

Year
ago
35.50
40.00
35.50

*Spot raw plus 8.6% plus 5.15c with 2% cash discount.

Raw cane
Delivered reﬁner, cents per lb
- Change from -
Contract
Mar. 24 Mar. 18 Mar. 11
Nearby
26.35
-.45
+.55
April-June
26.35
-.45
+.55
July-September
26.35
-.05
+.60
October-December 26.30
+.05
+.55
January-March
26.25
-.05
+.62
April-June
26.20
-.10
+.57

Year
ago
23.95
23.95
24.35
24.25
24.50
24.85

I.C.E. No. 11 raw sugar futures
cents per lb
18
16
14
12
10
M

Cash sugar trading was steady last
week. Firmness was noted in cane sugar
as one refiner raised its offer price. Corn
sweetener markets were quiet.
One major cane refiner boosted its offer
price by 3c a lb last week. Other refiners
didn't follow, and buyers had yet to pay
the higher price. Other cane sellers said
cane sugar was available and selling below the new offer price, with beet sugar
available well below that level. As a result,
price quotes were left unchanged. Bulk
refined cane sugar through Sept. 30, 2016,
held at 32.5c to 34c a lb f.o.b. plant. Bulk
refined beet sugar for 2016 was steady at
31c to 31.5c a lb, f.o.b. plant, with continued indications of sales activity below the
range and some offers above the range.
Pricing for 2017 mostly was 1c to 2c a
lb above 2016 levels, although one seller
offered refined beet and cane sugar at the
same price flat from spot through 2017.
There was discussion about sugar
availability. Refiners depending on imported raw cane were facing tight supplies, especially with the recent escalation
in the price of world raws. It also was
noted that imports from Mexico were bypassing U.S. cane refiners in many cases

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

Mar. 24
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

and going to melters or directly to food
manufacturers. But some questioned
whether refined cane sugar supplies were
tight or if there was a sense of urgency related to labeling of bioengineered ingredients, movement of some food manufacturers to non-bioengineered cane sugar
and talk about more companies making
the change. Cane refiners and sugar users continued to press the government
to increase tariff-rate quotas, suggesting
the recent reallocation of T.R.Q. raw cane
quotas was insufficient.
Trade sources indicated cane sugar
was available with regular lead times.
At the same time, a number of brokers
noted difficulty getting domestic and
Mexican refined cane sugar price offers
last week, but some suggested it may be
due to the Easter holiday.
Beet sugar supplies were readily
available due to a large 2015 beet crop
and somewhat softer demand for bioengineered beet sugar. Total refined sugar
supply was adequate although not necessarily at prices or from sources to the
liking of sugar users.
The U.S. Department of Agriculture
state office in Colorado said sugar beets
were 1% planted as of March 20, in line
with the five-year average.
Corn sweetener markets were quiet
with contracted shipments on schedule.
Some traders indicated supplies of regular corn syrup were tightening, but others indicated supplies were adequate.
U.S.
honey
production
totaled
156,544,000 lbs in 2015, down 12% from
a year earlier, the U.S.D.A. said in its annual Honey report issued March 22. Dec.
15, 2015, producer honey stocks were
42,203,000 lbs, up 2% from a year earlier. MBN

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
* Sweetenersupply.com
52 / March 29, 2016 XMilling & Baking News

bakingbusiness.com / world-grain.com

http://www.Sweetenersupply.com

Milling & Baking News - March 29, 2016

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