Milling & Baking News - December 6, 2016 - 36

Ingredient Week X

Sweeteners

Beet and cane sugar
f.o.b. plant, cents per lb
- Change from -
Dec. 2
Nov. 25 Nov. 18
Midwest beet 28.50 @ 29.50
-
-
Paciﬁc beet* 34.00 @ 35.00
-
-
Cane**
34.00 @ 36.50
-
-

Year
ago
32.00
37.00
33.00

*Delivered **Spot raw plus 7% plus 4.75c with 2% cash discount.

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

- Change from -
Dec. 2 Nov. 25 Nov. 18
28.55
-.20
-.25
28.80
-.10
-.05
29.00
+.35
+.35
28.50
+.40
+.15
28.40
+.45
+.45
27.55
+.30
+.35

Year
ago
26.00
25.85
25.85
25.85
25.85
25.60

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

24
21
18
15
12
9
D

Cash sugar markets remained mostly
quiet last week with some beet sugar
sales slowing as more processors completed sales of a high percentage of their
production for 2017. Prices of both cane
and beet sugar were steady to firm.
The U.S. Department of Commerce
on Nov. 29 issued a preliminary ruling
citing possible compliance issues with
the 2014 anti-dumping and countervailing duty suspension agreements
between the United States and Mexico,
which was mostly expected by the trade.
Post-preliminary results including additional findings will be released soon, the
D.O.C. said, followed by a comment period and final results within 120 days of
publishing in the Federal Register.
Unrelated to the review, talks again
were under way between the D.O.C. and
Mexico in the United States' attempt to
boost raw sugar imports by adjusting
polarity requirements in the suspension
agreements. There appeared to be better
potential for progress ahead of President-elect Trump's inauguration. The issue has slowed new sales of sugar from
Mexico for several months.
Bulk refined cane sugar prices held

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

Dec. 2
22⅜@ 23⅜
23¾@ 24¾
23⅞@ 24⅞
23½@ 24½
24⅜@ 26⅜

Year ago
18⅞@ 19⅞
20¼@ 21¼
20⅜@ 21⅜
20@ 21
20⅞@ 22⅞

HFCS list price2
42% HFCS wet
26.750
29.000
28.500
28.000
29.250

55% HFCS wet
31.750 net
34.250 net
34.000 net
33.500 net
34.750 net

Regular
corn
syrup3
31.75
34.00
34.00
35.00
36.25

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

firm at 34c to 36.5c a lb f.o.b. plant
through 2016-17, although it was likely
only a matter of time before the low end
of the range was moved higher. There
also were indications one refiner may
have raised its offer on the high side of
the range, but that did not mean sugar
was selling at the higher offer price.
The sugar cane harvest was progressing at an average pace in Florida and
ahead of average in Louisiana, where
tonnage was down due to dry weather.
Bulk refined beet sugar was unchanged
at 28.5c to 29.5c a lb f.o.b. Midwest through
2016-17. Most pricing was at 29c a lb, although one seller with more supply was
said to be consistently below that level.
Most processors had a comfortable amount
of their production sold for 2017 and were
looking to 2018 at levels about 1c to 2c
above 2017 prices. As a result, sales in some
cases slowed as buyer interest for 2018 still
was building, although a fair amount of
2018 business also has been completed.
Sugar beets harvested as of Nov. 27
were at 95% in Idaho (100% as the average for the date) and 97% in Colorado
(100% as the average), the state U.S. Department of Agriculture field offices said.
In an early release of select tables from
its Agricultural Projections to 2026 report, the U.S.D.A. forecast 2017-18 U.S.
sugar production at a record 9,477,000
short tons, raw value, up 1.6% from
9,331,000 tons forecast for 2016-17, which
would be the current record, if realized.
Dry dextrose contracting for 2017 was
said to be nearing completion mostly at
levels flat with 2016 contracted prices,
with some business done earlier at a 75ca-cwt increase. Most contracting of liquid
products was completed weeks ago. 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
36 / December 6, 2016 XMilling
Baking News

bakingbusiness.com / world-grain.com

http://www.Sweetenersupply.com

Milling & Baking News - December 6, 2016

Table of Contents for the Digital Edition of Milling & Baking News - December 6, 2016