World Agricultural and Demand Estimates November 10, 2026

SUGAR: U.S. sugar supply and use for 2025/26 are updated with final year data from Sweetener

Market Data (SMD). Beet sugar production increased 39,104 short tons, raw value (STRV) to

5.077 million on stronger realized August-September production. Cane sugar production

increased 3,234 STRV to 4.245 million on increased September sugar production in Louisiana.

Imports decreased 35,166 STRV to 3.062 million, reflecting final high-tier tariff imports recorded

by Customs. Deliveries for human consumption decreased 95,753 STRV to 12.296 million.

Deliveries had been declining year-over-year starting in the summer and the trend accelerated

going into September. July-September deliveries were recorded at 3.082 million, down from

3.327 million for the same period last year. For the year, deliveries from domestic processors and

refiners increased 1.2 percent relative to last year to 11.756 million STRV while direct

consumption imports decreased 28.5 percent to only 540,093 STRV. With lower prices, beet

sugar deliveries were up 4.4 percent over last year while cane sugar deliveries were down 1.2

percent. Ending stocks totaled 2.199 million STRV for an ending stocks-to-use ratio of 17.51

percent. Ending beet sugar stocks decreased 28.3 percent from last year’s elevated level to

852,824 STRV on the strong beet sugar delivery pace. Cane sugar stocks held by refiners and

processors remained historically elevated at 1.346 million STRV.

U.S. sugar supply for 2026/27 is decreased to 14.149 million STRV as lower beginning stocks

and production are only partially offset by increased imports. Beet sugar production is lowered

189,852 STRV to 4.552 million on lower national sugarbeet production forecast by USDA/NASS

and the August-September adjustment referred to above. Florida sugar production is reduced

58,007 STRV to 1.757 million based on a reduction in sugarcane yield forecast by NASS. Imports

are increased 42,743 STRV on higher high-tier tariff imports to 3.430 million. Projected refined

high-tier imports are carried over from 2025/26 at 509,737 STRV, a slight increase over last

month. High-tier raw imports are recorded when entered and amount to 41,311 STRV so far.

Projected deliveries for human consumption are carried over from 2025/26 at 12.296 million

STRV and other deliveries are projected at 105,000 STRV. Ending stocks are residually

projected at 1.723 million STRV for an ending stocks-to-use ratio of 13.87 percent, down from

14.90 percent last month.

Mexico sugar production for 2026/27 is decreased from last month by 84,906 metric tons (MT) to

5.292 million. Yields had been already forecast low due to rises in fertilizer prices and other input

costs. Emerging pest pressures were largely responsible for this month’s reduction with

infestations particularly strong in Campeche (90 percent of area) and also in Huasteca and

Pánuco (30 percent of area). The harvest has not yet started, but worries abound over

unseasonal rainfall at the harvest start delaying production and diluting sucrose levels and also

reducing yields. Based on FAS Post reporting, domestic deliveries for human consumption are

lowered 42,453 MT but are offset by increased deliveries into the IMMEX program. The Post also

advises that significant exports to the United States of sugar lower than 99.2 polarity will not take

place until mid-December when that sugar is produced. Notably, low polarity sugar thought to be

in inventory is not readily available for export for the first quarter of 2026/27.