April 8, 2022
SUGAR: USDA projects that decreases in 2021/22 U.S. sugar supply combined with an increase in use lowers ending stocks to 1,566,978 short tons, raw value (STRV) for an ending stocks-to-use ratio of 12.53 percent.
U.S. sugar supply for 2021/22 is decreased 60,343 STRV as decreases in sugar production are only mildly offset by an increase in high-tier tariff imports. Beet sugar production is decreased by 50,670 STRV to 5,338,098. About half of the reduction is attributable to lower production expected out of Michigan due to increased beet pile shrink reported by processors this month and fewer sugarbeets imported from Canada for processing than originally expected. With production in the Red River Valley region expected to run unusually long into the first week of June, production is reduced marginally to reflect increased risk to sugarbeets stored in increasingly warmer conditions. Also, production in California is expected to be slightly lower than originally forecast. Beet campaigns in the Pacific Northwest and Great Plains are planned to be over by the date of this WASDE and their production estimates made in late March have been incorporated into projected beet sugar production. Florida sugar production is decreased 22,335 STRV to 1,937,235 based on lower sucrose recovery from processors’ continuing analyses of the effect of late January freezes on the crop. Texas sugar production is reduced by 2,000 STRV to 128,000 based on processor reporting. High-tier tariff imports are increased by 14,662 STRV on recorded entries of raw sugar in the first two months of 2022. Projected high-tier tariff imports of refined sugar are unchanged from last month.
Annual Meeting -- SAVE THE DATES !
Feb 6-8, 2020