January 12, 2017

SUGAR: U.S. cane sugar production for 2016/17 is reduced by 29,236 short tons, raw value (STRV) based on industry
reporting in Louisiana and Texas. Total imports are reduced by 1,515 STRV based on end of calendar year adjustments
made for tariff rate quota imports under several Free Trade Agreements. Ending stocks for 2016/17 are projected at
1.881 million STRV, implying an ending stocks-to-use ratio of 15.4 percent.