Domestic sugar supplies are at record levels. CSC Sugar Market Strategist Chris Bergin credits the large beet crop that was harvested this past fall. “However, if we take into account beginning stocks, it’s not the largest quantity of total available beet supplies,” said Bergin. “It’s close but it’s not quite the same as 2017 where we had just north of 6.3 million tons.” Refined sugar margins were squeezed in 2017. Bergin says the market is not reacting the same way this year, especially with fewer Mexican imports. “Mexico is taking our surplus. They are having a crop failure and prices in Mexico have now traded up to or on par with prices in the United States adjusted for freight so we’re now happily able to service that market.”
