WASDE Report (November 9, 2022)

SUGAR: U.S. sugar supply and use for 2021/22 is revised to incorporate complete fiscal year estimates in USDA’s Sweetener Market Data (SMD). Beet sugar production is estimated at 5.155 million short tons, raw value (STRV), an increase over last month of 77,618 due to more production in September than expected last month. Louisiana cane sugar production is lowered by 58,824 STRV to 1.923 million on lower-than-expected production in September. Along with small changes in some other components, deliveries for human consumption are lowered by 81,845 STRV to 12.470 million. Most of this decrease is attributable to very low direct consumption imports in September. The final year estimate of ending stocks is 1.814 million STRV. This is 40,823 STRV more than last month and results in a stocks-to-use ratio of 14.3 percent.