USDA leaves 2018/19 domestic sugar outlook unchanged

The US Department of Agriculture (USDA) on Tuesday left its outlook for sugar stocks this year unchanged and slightly raised its outlook for the 2019/20 crop year.

The USDA left the closely watched stocks-to-use ratio for 2018/19 at 14.5% last month. The department put the ratio at 13.5% for 2019/20 compared with its forecast of 10.5 last month. In its monthly report, the agency forecast US production in 2019/20 to reach 8.280 million short tons (7.51 million tonnes), compared with the 8.612 million tons the agency forecast last month, with national sugar beet production and cane output in Texas both seen declining.