Food Business News – July 7, 2020

INGREDIENT MARKETS

Sweeteners
Cash sugar market activity continued
at a steady pace last week with new sales
indicated at prices within quoted ranges.
Softness in refined cane sugar prices first
evident a couple weeks ago persisted.
Bulk refined beet sugar for 202021 was offered steady at 36.5¢ a lb f.o.b.
Midwest by multiple processors with offer periods varying from marketing year
to calendar year. Beet sugar was offered
steady at 38¢ a lb f.o.b. Michigan.
Bulk refined cane sugar was offered

Beet and cane sugar
f.o.b. plant, cents per lb
- Change from -
2019-20
July 2
June 26 June 19
Midwest beet
44.00 (N)
-
-
Pacific beet*
NA
...
...
Northeast cane**
46.00
-
-

Year
ago
35.00
41.00
37.00

*Delivered **Spot raw plus 7{2be9e0ed3ca9ccbec52b0231822c6f1fda346690d3a01794d48870672da60124} plus 17.25¢ with 2{2be9e0ed3ca9ccbec52b0231822c6f1fda346690d3a01794d48870672da60124} cash discount. (N = Nominal)

Raw cane
Delivered refiner, cents per lb
- Change from -
July 2 June 26 June 19
Nearby
26.03
+.03
+.07
August-September
26.03
+.03
+.07
October-December
26.30
+.20
-.02
January-March
26.55
+.15
-
April-June
26.60
+.05
-.05
July-September
26.67
-.03
-.13

Year
ago
25.80
26.80
26.05
26.05
26.30
26.30

by one refiner at 44¢ to 45¢ a lb f.o.b. for
October-December 2020, with January
2021 forward offered at 40¢ to 41¢ a lb f.o.b.
East Coast and West Coast and at 39¢ to
40¢ a lb f.o.b. Gulf and Florida. Another
refiner continued to offer cane sugar at
38¢ f.o.b. Florida. A third refiner indicated
cane sugar was offered at 37¢ a lb f.o.b.
Gulf for calendar 2021. Cane sugar prices
were unchanged after ticking down a
couple of cents in most areas in June.
Some new business was being done,
and inquiries from buyers remained active. Traders expected an uptick in trading
any time, most likely after the holiday
break. Armed with new data on sugar beet
plantings and harvested area forecasts for
both beets and cane, as well as beet and
cane crop condition ratings, both buyers
and sellers may be more comfortable with
prospective sugar supply for 2020-21,
which may be raised slightly from the US
Department of Agriculture's June forecast
based on higher beet and cane acreage.
Prospects for higher production may
encourage buyers to seek lower sugar

Sweeteners
Delivered basis, cents per lb
42{2be9e0ed3ca9ccbec52b0231822c6f1fda346690d3a01794d48870672da60124} HFCS spot price1

Midwest
Northeast
Southeast
Southwest
West

July 2
25½ @ 26
27 @ 27½
27¼ @ 27¾
26¾ @ 27¼
27½ @ 28¾

Year ago
25 @ 25¾
26½ @ 27¼
26¾ @ 27½
26¼ @ 27
27 @ 28¾

55{2be9e0ed3ca9ccbec52b0231822c6f1fda346690d3a01794d48870672da60124} HFCS spot price1

Midwest
Northeast
Southeast
Southwest
West

July 2
32¾ @ 33¾
34¼ @ 35¼
34¼ @ 35¼
34 @ 35
34¾ @ 35¾

Year ago
31¾ @ 32¼
33¼ @ 33¾
33¼ @ 33¾
33 @ 33½
33¾ @ 35¼

Regular
corn
syrup2
37.25
39.50
39.50
40.50
41.50

East
Midwest
West
South

1-Variations in prices often tied to tank car versus truck deliveries. Prices are the lowest available to the publication. 2-Regular 42 DE/43 Baume, f.o.b. tank cars, trucks

Dextrose
[email protected]
[email protected]
[email protected]
[email protected]

prices. Cane prices have shown some
weakness in the past couple of weeks,
but beet offers have held steady, in part
because they remained at a larger-thannormal discount to refined cane sugar.
Beet sugar sales have been slightly
behind the average pace in some cases,
but not so much as to be a concern, with
some processors noting sales on pace
with the average. Cane sugar sales, which
typically lag those of beet sugar, have
been well behind the average pace in
some cases, possibly due to what buyers
perceived to be prices too high relative to
crop size and beet sugar prices.
Sugar beet and cane crop condition
ratings as of June 28 remained high for
the date in nearly all states.
The USDA on June 30 estimated
2020 sugar beet planted area up 1.4{2be9e0ed3ca9ccbec52b0231822c6f1fda346690d3a01794d48870672da60124}
from 2019 and up 0.8{2be9e0ed3ca9ccbec52b0231822c6f1fda346690d3a01794d48870672da60124} from March intentions. Beet harvested area was forecast at
1,126,800 acres, up 15{2be9e0ed3ca9ccbec52b0231822c6f1fda346690d3a01794d48870672da60124} from 2019, reflecting the large number of acres in the Red
River Valley and a few other states that
were not harvested last fall due to adverse
weather. Sugar cane harvested area was
forecast at 920,400 acres, up 0.8{2be9e0ed3ca9ccbec52b0231822c6f1fda346690d3a01794d48870672da60124} from
2019 with increases in Louisiana and
Texas offsetting a decline in Florida.
Spot through September bulk refined
cane sugar was offered steady at 46¢ a lb
f.o.b. by one major refiner with capacity
available. Spot beet sugar was not offered.
Corn sweetener markets were quiet
amid ongoing demand concerns. FBN

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and solutions to fit your needs
Not only do we have a broad
range of products, warehousing
at our facilities, we are able to
efficiently and competitively
source whatever you need!

* Conventional Sugar
* Specialty Sugars
* Liquid Sucrose
* Invert Sugar
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andBusiness
Syrups
46
Food
News

Contact us today!
[email protected]
July 7, 2020
219-554-6740 * www.marigoldinc.com

http://www.marigoldinc.com

Table of Contents for the Digital Edition of Food Business News – July 7, 2020

Food Business News – July 7, 2020 – 1
Food Business News – July 7, 2020 – 1
Food Business News – July 7, 2020 – 2
Food Business News – July 7, 2020 – 3
Food Business News – July 7, 2020 – 4
Food Business News – July 7, 2020 – 5
Food Business News – July 7, 2020 – 6
Food Business News – July 7, 2020 – 7
Food Business News – July 7, 2020 – 8
Food Business News – July 7, 2020 – 9
Food Business News – July 7, 2020 – 10
Food Business News – July 7, 2020 – 11
Food Business News – July 7, 2020 – 12
Food Business News – July 7, 2020 – 13
Food Business News – July 7, 2020 – 14
Food Business News – July 7, 2020 – 15
Food Business News – July 7, 2020 – 16
Food Business News – July 7, 2020 – 17
Food Business News – July 7, 2020 – 18
Food Business News – July 7, 2020 – 19
Food Business News – July 7, 2020 – 20
Food Business News – July 7, 2020 – 21
Food Business News – July 7, 2020 – 22
Food Business News – July 7, 2020 – 23
Food Business News – July 7, 2020 – 24
Food Business News – July 7, 2020 – 25
Food Business News – July 7, 2020 – 26
Food Business News – July 7, 2020 – 27
Food Business News – July 7, 2020 – 28
Food Business News – July 7, 2020 – 29
Food Business News – July 7, 2020 – 30
Food Business News – July 7, 2020 – 31
Food Business News – July 7, 2020 – 32
Food Business News – July 7, 2020 – 33
Food Business News – July 7, 2020 – 34
Food Business News – July 7, 2020 – 35
Food Business News – July 7, 2020 – 36
Food Business News – July 7, 2020 – 37
Food Business News – July 7, 2020 – 38
Food Business News – July 7, 2020 – 39
Food Business News – July 7, 2020 – 40
Food Business News – July 7, 2020 – 41
Food Business News – July 7, 2020 – 42
Food Business News – July 7, 2020 – 43
Food Business News – July 7, 2020 – 44
Food Business News – July 7, 2020 – 45
Food Business News – July 7, 2020 – 46
Food Business News – July 7, 2020 – 47
Food Business News – July 7, 2020 – 48
Food Business News – July 7, 2020 – 49
Food Business News – July 7, 2020 – 50
Food Business News – July 7, 2020 – 51
Food Business News – July 7, 2020 – 52
Food Business News – July 7, 2020 – 53
Food Business News – July 7, 2020 – 54
Food Business News – July 7, 2020 – 55
Food Business News – July 7, 2020 – 56
Food Business News – July 7, 2020 – 57
Food Business News – July 7, 2020 – 58
Food Business News – July 7, 2020 – 59
Food Business News – July 7, 2020 – 60
Food Business News – July 7, 2020 – 61
Food Business News – July 7, 2020 – 62
Food Business News – July 7, 2020 – 63
Food Business News – July 7, 2020 – 64
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http://digital.foodbusinessnews.net/sosland/fbn/2013_10_08
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http://digital.foodbusinessnews.net/sosland/fbn/2013_09_10
http://digital.foodbusinessnews.net/sosland/fbn/2013_08_27
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https://www.nxtbook.com/sosland/fbn/2012_11_06
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