The MY 2020/21 outlook for sugar is for more domestic production and a reduction in imports, but with lower deliveries and increasing year-end stocks. Beet sugar production is up 133,662 short tons – raw value (STRV) based on higher extraction rates in Minnesota and North Dakota. Cane production is up 62,000 STRV based on increased production across Louisiana, Florida, and Texas.
Imports for the year are forecast at 3.344 million STRV, down 21 percent from 4.235 million STRV. Deliveries of sugar are projected at 12.2 STRV, which is down 1 percent from 2019/20. So far in the fiscal year, cane sugar demand is holding up more than beet sugar compared to last year for the same period.
The stocks-to-use ratio is forecast...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
