USDA selling off sugar collateral from loan defaults

The USDA sold 216,750 tons of sugar it had acquired after domestic processors defaulted on $139.9 million in government loans to domestic ethanol makers at an almost 90% discount. Nearly 80,000 tons of sugar still remain. This is the third sale this year; in August, the USDA sold 7,000 tons at a 75% discount, and 136,000 tons were sold in September at a 81% markdown.

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