Food Business News - February 16, 2021 - 46

INGREDIENT MARKETS

Sweeteners
Trading of bulk refined sugar was
slow and prices were steady last week
with attention on the Feb. 9 World Agricultural Supply and Demand Estimates
report, which forecast record-high US
cane sugar and total sugar production in
2020-21.
As the result of higher domestic
production, a modest boost in imports
and no changes in deliveries, the US
Department of Agriculture, in its WASDE
report, raised the current year ending

Beet and cane sugar
f.o.b. plant, cents per lb
- Change from -
2020-21
Feb. 12
Feb. 5 Jan. 29
Midwest beet
36.50
-
-
Pacific beet
37.00 @ 40.00
-
-
Northeast cane*
42.00
-
-

Year
ago
44.00
NA
44.00

*Delivered **Spot raw plus 7% plus 9.4¢ with 2% cash discount.

Raw cane
Delivered refiner, cents per lb
- Change from -
Feb. 12 Feb. 5 Jan. 29
Nearby
29.70
+.35
+.75
April-June
29.70
+.15
+.30
July-September
29.50
-
+.25
October-December
28.25
-.10
-.25
January-March
27.33
-.07
+.03
April-June
27.20
...
...

Year
ago
26.65
26.65
27.20
27.50
26.58
26.40

stocks-to-use ratio to 16.1% from 14.4%
in January and from 12.9% last year. A
ratio of 13.5% indicates an adequate but
not abundant sugar supply.
There were mixed industry opinions
about the forecasts for record production
and unchanged deliveries.
Some processors were doubtful
beet sugar production would meet the
USDA forecast even with a high sucrose
recovery rate, while most agreed with
the record-high cane sugar forecast due
to Louisiana's large sugarcane crop.
In leaving deliveries for food use unchanged from January, the USDA forecast
for 2020-21 remained down 0.9% from
2019-20. That would support indications
from some processors that deliveries in
December and January were weak, although most noted an uptick in shipments
in early February. Other refiners said
deliveries have been at expected levels.
The USDA's monthly Sugar Market
Data report on Feb. 8 showed deliveries
for food use in December flat with December 2019, and in October-December

Sweeteners
Delivered basis, cents per lb
42% HFCS spot price1

Midwest
Northeast
Southeast
Southwest
West

Feb. 12
25½ @ 26
27 @ 27½
27¼ @ 27¾
26¾ @ 27¼
27½ @ 28¾

Year ago
25½ @ 26
27 @ 27½
27¼ @ 27¾
26¾ @ 27¼
27½ @ 28¾

55% HFCS spot price1

Midwest
Northeast
Southeast
Southwest
West

Feb. 12
32¾ @ 33¾
34¼ @ 35¼
34¼ @ 35¼
34 @ 35
34¾ @ 35¾

Year ago
32¾ @ 33¾
34¼ @ 35¼
34¼ @ 35¼
34 @ 35
34¾ @ 35¾

Regular
corn
syrup2
37.25
39.50
39.50
40.50
41.50

East
Midwest
West
South

1-Variations in prices often tied to tank car versus truck deliveries. Prices are the lowest available to the publication. 2-Regular 42 DE/43 Baume, f.o.b. tank cars, trucks

Dextrose
42.00@42.50
41.00@41.50
44.00@44.50
43.00@43.50

down about 2% from a year earlier.
It should be noted October-December beet sugar deliveries were compared
with strong deliveries a year earlier,
when some beet processors were pushing shipments out the door before force
majeures took effect on Jan. 1, 2020.
Unknown was the potential impact on
demand as the country emerges from
COVID-19, which should have the greatest effect in the second half of the year.
The USDA forecasts did not affect
sugar prices either for this year or for
2021-22, although little if any trading for
either period took place. Minimal business remained to be conducted for this
marketing year, which ends Sept. 30. For
next year, sales to date are near five-year
averages and mostly front-loaded in the
October-December period. Buyers have
been slow to jump in, hoping for price
weakness as supplies rebound from last
year's tightness and as imports from
Mexico increase in the next few weeks.
Spot beet sugar offers were posted at
36.50¢ a lb f.o.b. Midwest and 39.50¢ f.o.b.
Michigan, unchanged. One processor
remained out of the market, but most were
selling small amounts of sugar on a selective
basis. Refined cane sugar through September was offered at 42¢ a lb f.o.b. in the Northeast and West Coast, at 38.50¢ to 39.50¢ f.o.b.
in the Southeast, and at 38¢ to 39.50¢ f.o.b. in
the Gulf, also unchanged. Offers for 2021-22
mostly were flat with this year.
Corn sweetener markets were quiet. FBN

P RO P R I E TA RY

SUGAR
and sweetener

INSIGHT
Sosland Sweetener Report
Better manage your sales and procurement needs with
daily updates and a full weekly report on domestic sugar
and corn sweetener markets.
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46
Food Business News
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February 16, 2021


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Food Business News - February 16, 2021

Table of Contents for the Digital Edition of Food Business News - February 16, 2021

Food Business News - February 16, 2021 - 1
Food Business News - February 16, 2021 - 1
Food Business News - February 16, 2021 - 2
Food Business News - February 16, 2021 - 3
Food Business News - February 16, 2021 - 4
Food Business News - February 16, 2021 - 5
Food Business News - February 16, 2021 - 6
Food Business News - February 16, 2021 - 7
Food Business News - February 16, 2021 - 8
Food Business News - February 16, 2021 - 9
Food Business News - February 16, 2021 - 10
Food Business News - February 16, 2021 - 11
Food Business News - February 16, 2021 - 12
Food Business News - February 16, 2021 - 13
Food Business News - February 16, 2021 - 14
Food Business News - February 16, 2021 - 15
Food Business News - February 16, 2021 - 16
Food Business News - February 16, 2021 - 17
Food Business News - February 16, 2021 - 18
Food Business News - February 16, 2021 - 19
Food Business News - February 16, 2021 - 20
Food Business News - February 16, 2021 - 21
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Food Business News - February 16, 2021 - 25
Food Business News - February 16, 2021 - 26
Food Business News - February 16, 2021 - 27
Food Business News - February 16, 2021 - 28
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Food Business News - February 16, 2021 - 45
Food Business News - February 16, 2021 - 46
Food Business News - February 16, 2021 - 47
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Food Business News - February 16, 2021 - 63
Food Business News - February 16, 2021 - 64
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