May 10 2018

SUGAR: U.S. beet sugar production for the 2018/19 August/July crop year is forecast at 4.980 million short tons, raw value (STRV) based on prospective plantings from NASS, recent year trends in yields, and the pace of plantings through early May. Adjustments for production in August/September result in fiscal year (FY) 2017/18 production at 5.221 million STRV and FY 2018/19 production at 5.036 million. U.S. cane sugar production for 2018/19 is projected at 3.945 million STRV based on yield trends and expected area harvested. Imports for 2018/19 are projected at 3.365 million STRV and are comprised of TRQ imports of 1.355 million; re-export imports of 350,000; imports from Mexico of 1.645 million; and high-tier tariff imports of 15,000. Projected 2018/19 TRQ imports of specialty sugar include only the WTO minimum quantity as additional quantities have not been announced by the Secretary of Agriculture. Exports for 2018/19 are projected at 50,000 STRV and deliveries to domestic users are projected at 12.655 million. Ending stocks are residually projected at 1.542 million STRV, implying a stocks-to-use ratio of 12.1 percent.

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