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...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
