Milling & Baking News - September 8, 2020 - 44

Ingredient Week

Sweeteners

Beet and cane sugar
f.o.b. plant, cents per lb
- Change from -
2020-21
Sept. 4
Aug. 28 Aug. 21
Midwest beet 36.00 @ 36.50 +1.00 +1.50
Pacific beet
36.00 @ 36.50 +.50
+.50
Northeast cane* 39.50 @ 40.00
-
-

Year
ago
34.50
41.00
37.00

*Delivered **Spot raw plus 7% plus 10¢ with 2% cash discount. N = Nominal

Raw cane
Delivered refiner, cents per lb
- Change from -
Sept. 4 Aug. 28 Aug. 21
Nearby
27.00
-.40
-.55
October-December 27.00
-.40
-.55
January-March
26.83
-.17
-.17
April-June
26.90
-.10
-.10
July-September
27.00
-.05
-.25
October-December 27.00
-
-.05

Year
ago
25.75
25.75
26.05
26.25
26.70
26.50

ICE No. 11 raw sugar futures
cents per lb
16.00
15.00
14.00
13.00
12.00
11.00
10.00
9.00
S

D

M

J

Sugar market participants last week
were monitoring impacts from the previous week's hurricane and refinery fire,
with refined sugar prices firming.
Hurricane Laura, a Category 4 storm
as it made landfall near the Texas-Louisiana border, did not leave in its wake
extensive damage to the Louisiana sugarcane crop. Cane plants in some areas
were laid down by high winds but were
already recovering in places such as St.
Landry Parish.
Of more pressing concern was the tidal
surge that followed Laura inland. Some
farmers in Iberia Parish were making cuts
into levees and running pumps around
the clock to drain salt water from their
fields. Most were optimistic the crop,
which was in terrific shape before the
storm, would recover. Sugarcane specialists said fall weather would be a big determinant of crop damage. Dry weather this
month will mitigate much of the damage
while wet weather would exacerbate
it. The US Department of Agriculture's
Louisiana field office rated the sugarcane
crop 60% good to excellent as of Aug. 30,
down from 81% a week earlier.
The Domino refinery in Chalmette,

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

Sept. 4
Year ago
25½@ 26
25@ 25¾
27@ 27½ 26½@ 27¼
27¼@ 27¾ 26¾@ 27½
26¾@ 27¼ 26¼@ 27
27½@ 28¾ 27@ 28¾

55% HFCS spot price1
Midwest
Northeast
Southeast
Southwest
West

Sept. 4
32¾@ 33¾
34¼@ 35¼
34¼@ 35¼
34@ 35
34¾@ 35¾

Year ago
31¾@ 32¼
33¼@ 33¾
33¼@ 33¾
33@ 33½
33¾@ 35¼

Regular
corn
syrup3
37.25
39.50
39.50
40.50
41.50

Dextrose
East
42.00@42.50
Midwest 41.00@41.50
West
44.00@44.50
South
43.00@43.50

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

La., resumed production of soft sugar,
large grain and liquid sweetener, molasses and specialty products on a limited
capacity on Sept. 1, Domino management said. The plant was damaged Aug.
27 when a fire broke out in a silo. Domino indicated it would lean on available
sweetener supply from its network to
handle customer orders during the two
weeks it would take to resume production of white granulated sugar.
Sales of bulk refined beet sugar were
steady to more active for the 2020-21
marketing year. Some refiners reported
sales last week were robust enough to
spur price advances to slow the pace until the size of the beet crop can be verified. Others did not raise prices but were
selling only at the top of the price range.
Sales exceeded the expectations of some
traders. Most sales were to buyers who
already had been in negotiations. Ideas
were that the hurricanes swirling in the
Gulf and the silo fire encouraged more
buyers to extend coverage amid heightened uncertainty.
Several beet processors began running
last week with another expected to come
online Sept. 10 and still more by Oct. 1.
Beet harvests made good early progress in Michigan, Minnesota and North
Dakota. North Dakota sugar beets were
5% harvested by Aug. 30, the same as
both a year earlier and the five-year average for the date, and they were rated
92% good to excellent.
Spot shipments were said to be good,
in some cases above mid-August levels.
Corn sweetener activity was slow with
buyers seeking discounts sellers didn't
feel was justified last week considering
recent advances in corn prices. MBN

HONEY.
Clean Label Indulgence.
Honey uniquely delivers clean label indulgence
and functionality, all while imparting a familiar
flavor, tartness and depth to products. It's the true
all-natural and unprocessed sweetener made in
nature and loved by consumers around the world.
Email keith@honey.com to learn how to source,
formulate and market made with honey products.

44 / September 8, 2020

Milling & Baking News

bakingbusiness.com / world-grain.com


http://honey.com

Milling & Baking News - September 8, 2020

Table of Contents for the Digital Edition of Milling & Baking News - September 8, 2020

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Milling & Baking News - September 8, 2020 - 40
Milling & Baking News - September 8, 2020 - 41
Milling & Baking News - September 8, 2020 - 42
Milling & Baking News - September 8, 2020 - 43
Milling & Baking News - September 8, 2020 - 44
Milling & Baking News - September 8, 2020 - 45
Milling & Baking News - September 8, 2020 - 46
Milling & Baking News - September 8, 2020 - 47
Milling & Baking News - September 8, 2020 - 48
Milling & Baking News - September 8, 2020 - 49
Milling & Baking News - September 8, 2020 - 50
Milling & Baking News - September 8, 2020 - 51
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Milling & Baking News - September 8, 2020 - 53
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Milling & Baking News - September 8, 2020 - 55
Milling & Baking News - September 8, 2020 - 56
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