10-18 FB October Sugar Beets

 Sugar prices look pretty sweet for sugar beet growers this fall. I’m David Sparks and I’ll be right back with that story. Sugar for October delivery improved to almost 23 cents a pound meaning that the contract price has climbed nearly 58 percent since early May.

The recent rally occurred because heavy rains in Brazil, which happens to be the world's largest sugar producer have delayed shipments. It also happens that there is a strong demand for sugar worldwide and supplies are limited. All of that said, this should be great for Idaho’s sugarbeet farmers and I talked to Mark Duffin, Executive Director of the Idaho Sugarbeet Growers Association about the state of the state’s sugarbeets: “We’re right in the middle of harvest right now and it’s coming along pretty good tons are down from last year and I’m getting reports of good sugar content so we’re just hoping to complete the harvest in good shape.”  Mark mentioned that the reason this years overall tonnage is down was because of the recurring theme we heard several months ago…cold wet spring and a relatively cool summer. But still, sugar beet producers should have a collective smile on their face