Milling & Baking News - July 18, 2017 - 44

Ingredient Week X

Sweeteners

Beet and cane sugar

Beet sugar prices were raised slightly
last week on tightening supplies. Cane
sugar prices were unchanged. Trading
was slow for both this and next year.
The low end of the bulk refined beet
sugar price range was raised to 32c f.o.b.
Midwest, with some suggesting most
sugar was selling above that level. Activity for the remainder of 2016-17 was light,
but a few sales continued. There was talk
that one beet processor may be oversold
for the remainder of the marketing year,
and with other processors also sold out,
buyers had few alternatives. At the same
time, some brokers noted buyers were
resisting the higher offers.
Offers for next year mostly were around
32.5c a lb f.o.b. Midwest with light sales
at that level reported. Processors seemed
comfortable with sales for next year with
most said to be at least 70% sold or better.
Sugar beet crop conditions reported by
state U.S. Department of Agriculture field
offices were mixed as of July 9 with goodto-excellent ratings slipping in North Dakota and Colorado, rising in Michigan
and Idaho and unchanged in other states.
Montana's U.S.D.A. field office does not
report sugar beet crop ratings, but drought

f.o.b. plant, cents per lb
- Change from -
July 14
July 7 June 30
Midwest beet 32.00 @ 33.50 +.50
+.50
Paciﬁc beet* 37.00 @ 38.50
-
-
N.E. Cane** 35.00 @ 37.00
-
-

Year
ago
29.00
34.00
33.00

*Delivered **Spot raw plus 7% plus 6.4c with 2% cash discount.

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

July 14
27.00
27.00
27.05
26.30
26.75
26.95

- Change from -
July 7 June 30
-.50
-.45
-.50
-.45
-.45
-.40
-.18
-.10
-
+.15
-
+.05

Year
ago
28.25
28.25
27.90
26.95
27.05
27.00

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

25
21
17
13
J

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

July 14
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

was a concern in beet growing areas.
Bulk refined cane sugar was selling at
34c a lb f.o.b. in the Southeast for both
2016-17 and 2017-18, around 36c a lb f.o.b.
in the Northeast and at 40c a lb and above
delivered in the West, all unchanged from
a week earlier. As with beet sugar, some
traders indicated tightening supplies of
refined cane with one cane refiner also
said to be oversold for the rest of 201617. Options were limited for buyers, with
beet sugar supplies tight and few new offers said to be coming out of Mexico.
Tight U.S. sugar supplies for the rest
of this marketing year and for 2017-18
were indicated in the July 12 U.S.D.A.
World Agricultural Supply and Demand
Estimates report, which forecast the
ending stocks-to-use ratio on Sept. 30,
2017, at 11.4%, down from 12.3% forecast in June, and on Sept. 30, 2018, at 9%,
up from 8.8% in June, both well below
13.5% seen as the level needed to ensure
adequate supplies for domestic users.
The U.S.D.A. forecast 2016-17 U.S.
sugar ending stocks at 1,440,000 short
tons, raw value, down 6% from its June
forecast based on a 3,795-ton increase in
cane sugar production in Florida and a
100,000-ton increase in deliveries for food.
Ending stocks for 2017-18 were forecast at 1,132,000 tons, up 2.5% from June
based on a 96,000-ton reduction in beginning stocks and a 101,000-ton increase in
domestic use at 12,603,000 tons, which
were more than offset by 225,445-ton increase in total imports at 3,557,000 tons.
Imports from Mexico were forecast at
1,823,000 tons, up 3% from June and up
57% from 2016-17.
Domestic corn sweetener markets were
routine with shipments on schedule. MBN

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44 / July 18, 2017 XMilling & 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 - July 18, 2017

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