Milling & Baking News - February 14, 2017 - 52

Ingredient Week X

Sweeteners

Beet and cane sugar
f.o.b. plant, cents per lb
- Change from -
Feb. 10
Feb. 3 Jan. 27
Midwest beet
28.50 @ 29.50 -
-
Paciﬁc beet*
34.00 @ 36.00 -
-
Northeast cane** 36.00 @ 38.00 +2.00 +2.00

Year
ago
31.00
37.00
32.00

*Delivered **Spot raw plus 7% plus 3.75c with 2% cash discount.

Raw cane
Delivered reﬁner, cents per lb
Contract
Nearby
January-March
April-June
July-September
October-December
January-March

- Change from -
Feb. 10 Feb. 3 Jan. 27
30.40
-.05
+.55
30.40
-.05
+.55
30.40
-.30
+.30
30.05
-.30
+.50
28.70
-.15
+.30
28.00
+.10
+.35

Year
ago
25.45
25.45
25.45
25.75
25.85
25.45

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

24
21
18
15
12
J

Cash sugar prices were firmer last
week with some refined cane sugar prices raised due to tight raw cane supplies
and recent gains in raw cane futures.
Trading generally was slow as business
for 2017 was wrapping up.
Domestic bulk refined cane sugar prices were firmer at the top end of the price
range as cane refiners dealt with domestic raw futures above 30c a lb. Indications
were some refined cane offers were in the
upper 30s in the Northeast, but sugar also
was trading below that level. There still
were refiners offering refined cane sugar
at 34c to 36c a lb f.o.b. in the South and
Southeast, but it may be only a matter of
time before those prices move higher.
Tight raw cane supplies mostly were
seen as the result of slow imports from
Mexico due to unresolved trade issues.
Bulk refined beet sugar was firm at
28.5c to 29.5c a lb f.o.b. Midwest through
2016-17. Most offers were firm at 29c
with the potential to move higher in the
near future, although beet sugar still
may be bought below that level from one
seller, traders indicated. Most processors
were sold out for 2017, and others were
comfortable with their sales to date and

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

Feb. 10
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
28.25
30.50
30.00
29.50
30.75

55% HFCS wet
34.25 net
36.75 net
36.50 net
36.00 net
37.25 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

did not expect to carry stocks into next
year. Sales for 2017 mostly were concluded, but some buyers continued to
seek supply for later in the year.
Pricing for 2018 was firm with beet
sugar offers from some processors near
30.50c a lb f.o.b. Midwest, about 1.50c
above 2017 levels. At the same time,
some brokers noted refined beet sugar
offers were as much as 3c to 4c a lb above
2017 levels in specific regions. Buyer inquiries for 2018 pricing were increasing.
The U.S. Department of Agriculture
in its Feb. 9 World Agricultural Supply
and Demand Estimates report projected 2016-17 U.S. sugar ending stocks at
1,808,000 short tons, raw value, down
4% from its January projection and down
12% from 2,054,000 tons in 2015-16. The
ending stocks-to-use ratio was projected
at 14.8%, down from 15.4% in January
and 17% in 2015-16.
Sugar production in 2016-17 was forecast at 9,240,000 tons, down 73,000 tons,
or 1%, from January, with beet sugar unchanged at a record 5,731,000 tons and
cane sugar down 2% at 3,869,000 tons,
due mainly to smaller harvested cane
area and lower yields in Florida. Imports
were forecast at 2,744,000 tons, up 50,000
tons from January, based on a like increase in the "other program" category.
Total sugar use in 2016-17 was projected
at 12,230,000 tons, up 50,000 tons from
January and up 139,000 tons from 2015-16.
The increase was all in exports, forecast at
75,000 tons, based on planned beet sugar
exports of 50,000 tons, with the increase
matched by an equivalent increase in raw
sugar re-export imports, the U.S.D.A. said.
Corn sweetener markets were quiet
with no indications of supply issues. MBN

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* &Sweetenersupply.com
52 / February 14, 2017 XMilling
Baking News

bakingbusiness.com / world-grain.com

http://www.Sweetenersupply.com

Milling & Baking News - February 14, 2017

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