USDA Reports Sugarcane Increase

USDA's March crop production report featured sugar production, with the end-of-year projections recording an almost 1% year-over-year increase in cane production for sugar and seed, the highest annual production for cane since 2022.  There was, however, a 4% production forecast decline from the previous month.

Record high production is forecasted for Louisiana.  National sugarcane yield, however, for this year's crop is also down 1% from the prior year.

With domestic crop production forecast in March not contributing to the U.S. supply and demand estimate, minimal changes were noted on balance sheets, with the exception of a one-nickel increase in the season-ending average price of wheat, now at $4.95 a bushel.

Notable news from the various world commodity ledgers includes a 1 million-ton production forecast decrease in Argentina for corn due to dryness and uneven rainfall in key production areas.

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