USDA ups India 2017-18 cotton ending stock estimate to 13.3 million bales.
Ram Gopal Yadav (9 years ago)

USDA has scaled up its estimate for ending stocks of cotton in India for 2017-18 (Aug-Jul) to 13.34 million bales (1USbale=480pound) from 13.24 million bales projected in May. Global ending stocks of cotton for 2017-18 are seen at 87.71 million bales, up from 87.14 million bales estimated a month ago. The department has kept its estimate for the world largest producer of cotton, India year-to-July 2018 crop unchanged at 28.00 million bales, while it has lowered its forecast for exports to 4.2 million bales from 4.5 million bales estimated in May. Global cotton production in 2017-18 is seen at 114.73 million bales, against 113.22 million bales estimated earlier, due to higher output in Pakistan, China, and Mexico. For 2017-18, cotton imports by India are seen at 1.75 million bales, unchanged from the previous estimate.

MCX cotton down as India 2017-18 end-stocks seen up.
Ram Gopal Yadav (9 years ago)

Futures contracts of cotton on the MCX fell as USDA raised its estimate for India cotton ending stocks for 2017-18 (Aug-Jul). On the MCX, the June contract was at 20,580 rupees per bale (1bale=170 kg), down 0.8% from the previous close. Higher acreage in Gujarat, the largest producer, further dampened sentiment. As on Jun 5, cotton acreage in Gujarat was at 49,500 ha, higher than 15,200 ha a year ago.

USDA cuts India FY18 wheat output estimate by 1 million tonne to 96 million tonne.
Ram Gopal Yadav (9 years ago)

The US Department of Agriculture has reduced its forecast for India wheat production in 2017-18 marketing year (Apr-Mar) to 96.0 million tonne. In the previous forecast released in May, the US agency had projected wheat production of 97 million tonne in India. Production is still seen at a record high and over 10% higher from 87 million tonne a year ago. The government has estimated India wheat output in the 2016-17 crop year ending June to a record 97.4 million tonne. Despite the record crop and a custom duty of 10%, the department sees India wheat imports in 2017-18 at 4.0 million tonne.

India coffee exports during Jan 1- Jun 9.
Ram Gopal Yadav (9 years ago)

The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tn. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.

WASDE JUNE WHEAT OUTLOOK:
Ram Gopal Yadav (9 years ago)

Projected U.S. wheat supplies for 2017/18 are higher this month on increased beginning stocks, production, and imports. Projected 2017/18 U.S. wheat production is slightly increased by 3.8 million bushels to 1,824 million. The NASS June Crop Production report indicates higher Hard Red Winter and Soft Red Winter wheat production forecasts, which more than offset a reduced White Winter wheat crop. All of the wheat use categories are unchanged this month. The net supply increase raises projected 2017/18 ending stocks by 10.8 million bushels to 924.3 million. Carryout remains 20 percent below last year. The 2017/18 season-average farm price is projected at $3.90 to $4.70 per bushel, up 5 cents on both ends of the range. The mid-point of this range is up $0.40 from 2016/17. High-protein wheat supplies are expected to remain constrained in 2017/18, resulting in relatively higher prices for this wheat. Global wheat supplies for 2017/18 are raised 2.8 million tons, primarily on higher forecast wheat production for Russia, which is up 2.0 million tons to 69.0 million. Conditions continue to be favorable for winter wheat in most areas since the crop emerged from dormancy. Turkey’s wheat production is also forecast higher, up 0.5 million tons to 18.0 million on improved crop conditions this spring. India’s wheat production forecast is reduced 1.0 million tons to 96.0 million but is still record large and 9.0 million tons above 2016/17. European Union wheat production is forecast modestly lower at 150.8 million tons on a smaller expected crop in Germany but still 4 percent above last year. Foreign exports for 2017/18 are fractionally higher this month with increases in Argentina and Iran more than offsetting a reduction for the EU. Imports are projected higher for Brazil, Chile, and South Africa but down for Iran. Total world consumption is marginally lower, as a 1.0-million-ton reduction in India is only partially offset by increases in Russia, Brazil, and Chile. Global ending stocks are projected at a record 261.2 million tons, up 2.9 million from last month.

India maize prices down on quality concerns in Purnea market.
Ram Gopal Yadav (9 years ago)

Prices of maize fell in the key wholesale market of Purnea due to poor demand for moisture-laden crop. The quality of the grain deteriorated after recent heavy rains in the region. The coarse grain was sold down 20-25 rupees from previous close. June contract of maize on NCDEX was up 0.9% from the previous close.

Bulgaria Corn exports from down 12%.
Ram Gopal Yadav (9 years ago)

Bulgaria exported 875 KMT of corn from September 2016 till May 26, or 11.5% less than shipped abroad at the same time in MY 2015/16 (988 KMT). 80% of this season Bulgarian corn exports went to the EU market (700 KMT).

WASDE JUNE CORN OUTLOOK:
Ram Gopal Yadav (9 years ago)

Projected corn production for 2017/18 is unchanged at 14,065 million bushels. USDA will release the Acreage report on June 30, providing a survey-based estimate of corn area planted and a forecast of area harvested for grain. The seasonaverage corn price received by producers is unchanged from last month at $3.00 to $3.80 per bushel. EU corn production is down based on government data indicating lower-than-expected area in France and Germany. Canada corn production is lowered on reductions to both area and yield, as wetter-than-normal conditions in Ontario and Quebec during May delayed plantings and are expected to reduce yield prospects. Ukraine corn production is raised based on reported planting progress to date indicating a level of planted area above previous expectations. For 2016/17, Brazil corn production is raised as above-normal rainfall in the Center-West during May boosts yield prospects. South Africa corn production is higher reflecting the latest production estimate from the government. Major global trade changes for 2017/18 include higher projected corn exports for Ukraine and Russia, with increased corn imports for the EU. Foreign corn ending stocks are lowered from last month, with reductions for Canada, the EU and Russia more than offsetting increases for South Africa and Ukraine.

Rice acreage up 21.9% Year of Year at 551,000 hectares.
Ram Gopal Yadav (9 years ago)

Farmers in the country have sown kharif rice across 551,000 hectares, up 21.9% on year, as of Thursday. The acreage is 48.1% higher than the five-year average for the same period. The area under the rice crop in Nagaland was at about 143,000 hectares as of Thursday, up 8.3% on year, while in Arunachal Pradesh, the area was at 97,000 heactares, up from 85,000 hectares from a year ago. Uttar Pradesh, the largest producer of rice in the country, has not assigned any area under acreage up till now, while West Bengal the second largest producer of the crop has assigned 43,000 hectares, up from 42,000 hectares a year ago.