WASDE challenges expectations for domestic sugar & corn demand

Intriguing WASDE sugar forecasts this month: A look at the bottom line shows an increase of 118,000 short tons raw value (STRV) in 2019/20 ending stocks, perhaps prompting a sense of relief as supply and markets seem to be improving. But that does not [...]

Brazil center-south sugar output down 5 percent

Cumulative sugar production at 20.01 MMT: From April through mid-September, center-south (CS) output is down 4.9 percent YOY and down 14.2 percent from the five-year average. Cumulative recovery is down 6.1 percent YOY at 45.7 kg of sugar per MT of cane. Per UNICA, [...]

Corn market feels pressure from uncertain demand

Harvest of the U.S. corn crop has begun. Production remains a little uncertain, with just 29 percent of this year’s crop at maturity as of Sep. 22, about two weeks behind the average pace of development. So far, it appears the weather will be [...]

India sugar export subsidy, ethanol price hike approved

Export subsidy policy continued: India’s Cabinet Committee on Economic Affairs (CCEA) approved an export subsidy of Rs. 10,448 per MT (around US$6.63 cents per cwt) for 2019/20 exports. Total cost is officially estimated at Rs. 62.68 billion (more than US$875 million). Despite objections—WTO complaints—from [...]

U.S. ethanol production at four-year low

U.S. ethanol production averaged 1.02 million barrels per day during the week ending Aug. 16, down 2.1 percent for the week and down around 4.7 percent YOY. Since mid-July, this year’s weekly ethanol production has lagged last year’s volume by around 4 percent. Weekly [...]