August 12, 2022
SUGAR: U.S. 2022/23 sugar supply is increased by 249,762 short tons, raw value (STRV) on higher beginning stocks and higher projected production. Stocks carried over from 2021/22 are 45,769 STRV larger than estimated last month mostly on an increase in high-tier tariff imports, now estimated at 325,000 based on the pace of both raw and refined sugar imports through the first week of August. Beet sugar production is increased by 203,993 STRV on the NASS forecast of sugarbeet yield higher (29.2 tons/acre) than last month’s WASDE forecast (27.9 tons/acre). There are no changes to trade or to use. Ending stocks are increased to 1,814,227 STRV implying an ending stocks-to-use ratio of 14.32 percent, up from 12.35 percent last month.
Annual Meeting -- SAVE THE DATES !
Feb 6-8, 2020