| The U.S. Department of Agriculture is trying to sell off some of its
stored sugar in ways other than the ethanol program -- but not succeeding.
According to the Dyergram, a leading sugar industry newsletter, USDA
issued a tender notice Oct. 2 for sale of a total of 20,000 tons of
refined sugar, with a 25-ton minimum bid.
In June, USDA's Commodity Credit Corp. announced it would issue a
tender when the market price equals or exceeds 25.25 cents a pound
(Chicago, f.o.b.). That price reportedly had reached 26 or 27 cents.
Oct. 3, the CCC amended the tender, increasing it to 48,500 tons that
would include sugar located in several regions: Region 2 (Minnesota, North
Dakota, Iowa) 8,000 tons; Region 3 (Nebraska, Wyoming, Colorado) 12,000
tons; Region 4 (Texas) 5,000 tons; Region 5 (Montana) 13,500 tons; and
Region 8 (California) 10,000 tons.
However, the CCC issued a notice Oct. 11 that that all bids had been
rejected. The 48,500-ton tender was reissued Oct. 12, with bids due Oct.
16. The CCC announced all bids once again were rejected Oct. 17.
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