January 10, 2020
SUGAR: Total U.S. sugar supply for 2019/20 is reduced by 99,566 short tons, raw value (STRV) on lower production, partially offset by increased imports. Cane sugar production in Louisiana is estimated at 1.513 million STRV, a reduction of 199,453 based on preliminary industry reporting. Production in Louisiana for September 2020 is expected to be in line with average production for the previous 5 years. Beet sugar production for 2019/20 is estimated at 4.444 million STRV, an increase of 76,890 based on NASS’s estimate of sugarbeet production in the January Crop Production report. High-tier tariff imports are increased 30,000 STRV to 100,000 based on pace and on favorable margins between U.S. and world refined sugar prices. This increase is offset by a reduction of FTA imports due to lower-than-expected entries for the calendar year 2019 TRQs. There are no changes to use. Ending stocks are projected at 1.556 million STRV implying an ending stocks-to-use ratio of 12.7 percent, down from 13.5 percent last month.
Annual Meeting -- SAVE THE DATES !
Feb 6-8, 2020