SUGAR: Minor adjustments are made to the 2015/16 U.S. sugar supply and use balance based on revised Sweetener
Market Data (SMD) submitted by processors to USDA. For 2016/17, Hawaii cane sugar production is raised by 6,000
short tons, raw value (STRV) based on close to end of season processor reporting. Texas cane sugar production is raised
by 5,000 STRV based on increased crop yield reported by NASS. The projection of 2016/17 beet sugar production is
unchanged as lower-than-expected sucrose levels in certain parts of the Red River Valley and Michigan are countered by
strong content and record crop yields in western growing areas. Imports of re-export sugar are raised by 50,000 STRV to
175,000 based on pace to date while imports from Mexico are reduced by 45,330 STRV to 972,246. Total use is
unchanged. Ending stocks for 2016/17 are projected at 1.912 million STRV, implying an ending stocks-to-use ratio of 15.7
percent.