U.S. Sugar Ending Stocks Reduced due to Lower Expected Supplies
U.S. sugar markets are projected to operate at a 12.7 percent stocks-to-use ratio, down from the current estimate of 16.2 percent for 2017/18. The lower ratio is due to lower domestic production and beginning stocks more than offsetting an increase in imports, along with an unchanged outlook for use. A reduction in forecast sugarbeet production reduces beet sugar production for 20118/19, which is partially offset by higher cane sugar production in Louisiana.
The outlook for Mexico is relatively large supplies for both 2017/18 and 2018/19. The only change in the October World Agricultural Supply and Demand Estimates (WASDE) from the previous month is fewer exports in 2017/18, which will be carried over into 2018/19 and exported early in the new marketing year.
The Sugar and Sweeteners Outlook reviews the sugar and sweeteners market conditions for the United States and Mexico based on changes to the USDA’s World Agricultural Supply and Demand Estimates (WASDE) Report.
Michael McConnell, coordinator firstname.lastname@example.org