Projected U.S. sugar supply for fiscal year 2013/14 is decreased 7,000 short tons, raw value (STRV), from last month, as lower production more than offsets higher beginning stocks. Forecast use is increased 135,000 STRV. Higher expected domestic deliveries for food use are based on the pace to date. A larger forecast for exports of raw sugar under the re-export program is the result of shipments so far in 2013/14. The net reduction in ending stocks of 142,000 STRV brings the stocks-to-use ratio down to 13.6 percent, from 14.9 percent projected in February. Supply and use estimates for Mexico for 2012/13 and forecasts for 2013/14 are unchanged this month.
Source: USDA WASDE