US Corn Syrup Prices to Ease by Late January after 0.3% Increase in mid-Jan

The market for Corn Syrup in the United States opened in January with a positive note, after which it is expected to change into a softer phase during the latter half of January. After an initial uptick earlier in the month, the mood among Corn Syrup dealers has radically turned cautious while the buyers continuously reassess their immediate needs. According to industry sources, demand has stabilized rather than strengthened, with most of the downstream food and beverage companies depending on inventories built up toward the end of the previous year. The seasonality of consumption has supported it only on a very limited scale, and not enough to sustain the early-month gains. Following the holiday stocking, buying interest remained subdued, with many buyers opting to defer any further purchases. From the supply side, producers continued to operate at steady operating rates and make adequate volumes available which enabled sellers to make minor adjustments to keep business flowing. Analysts see late January calling for some softening of corn syrup prices, with the market estimates surrounding a possible decline, reflecting balanced fundamentals and a curtailed buying interest.