Milling & Baking News - May 9, 2017 - 44

Ingredient Week X

Sweeteners

Beet and cane sugar
f.o.b. plant, cents per lb
- Change from -
May 5
Apr. 28 Apr. 21
Midwest beet 29.50 @ 31.50
-
-
Paciﬁc beet* 34.00 @ 36.00
-
-
N.E. Cane** 37.00 @ 39.00
-
-

Year
ago
30.00
36.00
33.00

*Delivered **Spot raw plus 7% plus 6.7c with 2% cash discount.

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

- Change from -
May 5 Apr. 28 Apr. 21
28.60
+.30
-.35
28.60
+.30
-.35
28.65
+.30
-.40
28.45
+.85
+.40
27.30
+.05
-.08
27.55
+.10
+.15

Year
ago
27.50
27.50
27.50
26.85
26.15
26.15

I.C.E. No. 11 raw sugar futures
cents per lb
24
22
20
18
16
14
M

Cash sugar prices were unchanged
but firm last week. Trading was steady to
slightly more active. Some users still were
covering needs for the remainder of 201617, which ends Sept. 30, although most
inquiries and activity were for 2017-18.
The U.S. Department of Commerce,
citing an impasse in talks to revise the
agreements suspending the anti-dumping and countervailing duties on sugar
imports from Mexico, last week said it
would reinstate those substantial duties by June 5 unless an agreement was
reached before then. Mexican sugar
producers followed with threats to seek
trade sanctions and an anti-dumping
investigation on imports of U.S. highfructose corn syrup in retaliation for any
U.S. trade actions. Traders said the latest
move by the United States heightened
the chance that duties would return but
also increased the probability that a new
agreement would be reached.
Bulk refined beet sugar prices for 201617 were firm at 29.50c to 31.50c a lb f.o.b.
Midwest and mostly above 30c. All but
one major seller was sold out for the current crop year. Brokers said a few users
still had uncovered business for this year,

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

May 5
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

but some of those bought sugar last week
out of concern about the trade deal with
Mexico. Continued strong beet sugar deliveries gave processors confidence that
yearend stocks would not be an issue, and
the trade rhetoric added to the firm tone in
pricing. Offers for 2017-18 also were firm
near 30c a lb Midwest with some beet processors firm at 31.50c a lb amid some hints
that a price hike may not be far off.
Sugar beet planting was behind the
average pace due to wet, cool weather.
Beets were 48% planted in the four major
states as of April 30, well behind 77% a
year ago and 60% as the 2012-16 average,
the U.S. Department of Agriculture said.
Bulk refined cane sugar prices were
steady. The price spread between cane
sugar from refiners with domestic raw
supply and those depending on imported
raws remained wide as did the spread between beet sugar and refined cane. But it
was noted sales at the highest end of the
cane sugar price range likely represented a
small percentage of activity basically consisting of buyers who insisted on a specific
brand. Cane sugar sales were said to be occurring below the highest quoted nearby
offers from refiners using imported raws
and certainly from those with domestic
raw supplies whose offers already were at
the lower end of the spread. Pricing also
varied widely on a regional basis.
Sugar cane conditions continued to improve in Louisiana with 75% of the crop
rated good to excellent as of April 30 (71%
a week earlier and 64% last year), 19% fair
(24% and 32%) and 6% poor to very poor
(5% and 4%), the U.S.D.A. said.
Domestic corn sweetener markets
were routine with refiners monitoring
the trade situation with Mexico. MBN

Delicious Honey. 100% Pure & Natural.
Pails, Drums, Totes and Tanker Trucks. Our 24/7
manufacturing facility is strategically located in the
Midwest. FSSC 22000 and Kosher Certified.
Honey Products:
Amber, Light Amber, Extra Light Amber, Organic Honey

888-SUGAR-99
* Sweetenersupply.com
44 / May 9, 2017 XMilling & Baking
News

bakingbusiness.com / world-grain.com

http://www.Sweetenersupply.com http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - May 9, 2017

Table of Contents for the Digital Edition of Milling & Baking News - May 9, 2017