The Indian Sugar Mills Association has pegged the country sugar output in 2017-18 (Oct-Sep) at 25.1 million tonne, up 23.6% from 20.3 million tonne produced in the previous year. Uttar Pradesh, Maharashtra and Karnataka the three top sugar producing states are expected to produce over 19.8 million tonne of total sugar output during next season.
WASDE OUTLOOK SUGAR JULY:
U.S. deliveries for human consumption for 2016/17 are increased by 100,000 short tons, raw value (STRV) to 12.300 million based on pace-to-date through the end of May. Florida sugar production for 2016/17 is increased by 3,795 STRV to 2.055 million based on end-ofseason processor reporting to the USDA. Ending stocks are decreased by the sum of these adjustments to 1.440 million STRV, implying a stocks-to-use ratio of 11.4 percent. Imports for 2017/18 are increased by 225,445 STRV to 3.557 million. The increase is comprised of 176,370 STRV of additional specialty sugar that enters under the 2017/18 refined sugar tariffrate quota and an additional 49,075 STRV from Mexico. Deliveries for human consumption are projected to increase one-percent over the estimate for 2016/17 to 12.423 million STRV. Ending stocks for 2017/18 are projected at 1.132 million STRV, implying a stocks-to-use ratio of 9.0 percent. Mexico 2016/17 sugar imports intended for the IMMEX product re-export program are increased by 10,000 metric tons (MT) to 60,000 based on the pace to date. Sugar exports for 2016/17 to non-U.S. destinations are increased by 15,000 MT to 165,000 based on the pace to date. Exports to non-U.S. destinations for 2017/18 are decreased 15,000 MT to 10,000 based on expected higher-valued export alternatives to the U.S. market. Deliveries for the IMMEX program for 2017/18 are reduced 60,000 MT to 330,000. For 2017/18, exports to the United States are projected at 1.561 million MT. These exports are projected as the lower of the following: (1) anticipated U.S. Needs of 2.048 million MT as defined in the Suspension Agreements; or (2) the export level that yields an ending stocks-to-consumption ratio of 18.0 percent. The 18-percent stocks-to-consumption ratio is an assumed lower bound necessary for use until the new Mexico sugarcane harvest is well underway.
WASDE OUTLOOK OILSEEDS JULY:
U.S. oilseed production for 2017/18 is projected at 127.0 million tons, up 0.2 million from last month, with increases for soybeans, canola, and peanuts only partly offset with a lower forecast for sunflowerseed and cottonseed. Soybean production is projected at 4,260 million bushels, up 5 million on increased harvested area. Harvested area, estimated at 88.7 million acres in the June 30 Acreage report, is up 0.1 million from last month. The soybean yield forecast is unchanged at 48.0 bushels per acre. Despite slightly higher production, 2017/18 soybean supplies are reduced 35 million bushels on lower beginning stocks. With projections for exports and crush unchanged, 2017/18 soybean ending stocks are reduced 35 million bushels to 465 million. Soybean exports for 2016/17 are projected at 2,100 million bushels, up 50 million, reflecting shipments and outstanding sales through early July. Soybean crush is reduced 10 million bushels to 1,900 million on lower projected soybean meal exports and domestic use. Soybean ending stocks for 2016/17 are projected at 410 million bushels, down 40 million from last month. The U.S. season-average soybean price is forecast at $8.40 to $10.40 per bushel, up $0.10 at the midpoint. Soybean meal prices are forecast at $300 to $340 per short ton, up $5.00 at the midpoint. The soybean oil price forecast is unchanged at 30 to 34 cents per pound. The 2017/18 global oilseed supply and demand forecasts include higher production, exports, and stocks compared to last month. Global oilseed production for 2017/18 is projected at 573.9 million tons, up 0.9 million mostly on higher forecasts for Ukraine sunflowerseed, India cottonseed, U.S. peanuts, and China soybeans. Partly offsetting is lower rapeseed production for Australia. Ukraine sunflowerseed harvested area is raised in line with revisions for 2016/17, resulting in a higher production forecast. Soybean production is raised for China due to increased harvested area. Global oilseed exports for 2017/18 are projected at 172.9 million tons, up 0.6 million mainly reflecting increased soybean exports for Brazil and Ukraine. Soybean exports are also raised for 2016/17 as higher exports for the United States and Paraguay are partly offset by lower exports for Brazil and Argentina. Global soybean imports are forecast higher principally for China where imports are projected up 2 million tons to 91 million in 2016/17 and 1 million tons to 94 million in 2017/18. Global oilseed ending stocks for 2017/18 are up 1.0 million tons to 104.5 million mostly on higher soybean stocks in China and South America.
NCDEX coriander down on profit booking, rise in supply.
NCDEX coriander down on profit booking, rise in supply.
India coffee exports during Jan 1- Jul 10.
India coffee exports during Jan 1- Jul 10.
All-India cotton arrivals down at 12,200 bales as on 10 July.
All-India cotton arrivals down at 12,200 bales as on 10 July.
Egypt sees rice paddy production jumping to 6.5 mln tonnes.
Egypt sees rice paddy production jumping to 6.5 mln tonnes.
Pakistan agrees to provide 25,000 MT of rice to Sri Lanka.
Pakistan agrees to provide 25,000 MT of rice to Sri Lanka.
GST hits sales of registred branded rice in Bengaluru.
GST hits sales of registred branded rice in Bengaluru.
Govt procures 38.6 mln tn rice so far in year to Sep, up 13.5% on yr.
Govt procures 38.6 mln tn rice so far in year to Sep, up 13.5% on yr.
USDA Corn update.
USDA Corn update.
U.S corn condition as of 9th July.
U.S corn condition as of 9th July.
Corn prices fall despite fears over hot, dry US weather.
Corn prices fall despite fears over hot, dry US weather.
Dairy body to buy 1,300 tn maize via e-auction on 15 July.
Dairy body to buy 1,300 tn maize via e-auction on 15 July.
Kharif crops in peninsular India under moisture stress due to deficit July rains.
Kharif crops in peninsular India under moisture stress due to deficit July rains.
USDA Wheat Update.
USDA Wheat Update.
Japan offers to buy 93,765 tonnes food wheat via tender.
Japan offers to buy 93,765 tonnes food wheat via tender.
Ukraine grain harvest totals 3.7 mln tonnes so far.
Ukraine grain harvest totals 3.7 mln tonnes so far.
U.S. soybean hope to expand exports to China.
With record acreage planted, U.S. soybean growers hope to expand exports to China this year as Chinese demand continues to increase, but competition from Brazil and concerns about U.S. genetically modified crops may dampen Chinese enthusiasm. China is likely to commit to a big purchase of U.S. soybeans when a delegation from the Chinese Ministry of Commerce visits Des Moines, Iowa, on July 13.
Pakistan purchased 180,000 tonnes soybeans sourced United States or Brazil.
Pakistani importers have recently purchased about 180,000 tonnes of soybeans expected to be sourced optionally from the United States or Brazil. The soybeans are for shipment in April and May 2018. The purchases were made in three 60,000 tonne consignments from exporters in the United States at premiums over Chicago soybean futures.