“America will import more sugar this year than it has in 4 decades,” reads the headline.
11 Dec 2019 – First came the water. “Ten inches, up to almost 20 inches of rain,” says Dan Younggren, who grows sugar beets in the northwest corner of Minnesota. The fields were so wet that farmers couldn’t work in them.
“After that came the snowstorm,” he says, followed by a blast of freezing cold. Farmers in his beet-growing cooperative, the Red River Valley Sugarbeet Growers Association, abandoned more than 100,000 acres of beets.
“Minnesota, North Dakota, Colorado, Montana — those states are where we lost all – ALL (emphasis added) – the production,” says Frank Jenkins, president of JSG Commodities, who follows sugar markets closely.
Thanks to Bill Bradsky for this link