Agfax Buzz:
    May 10, 2013
    cotton-picker-southern-images-copyright-2012-08042012-feature

    WASDE Cotton: Abandoned Acres Reduce Projections to 14M Bales; Southwest 25% Down

    AgFax.Com - Your Online Ag News Source

    From USDA, World Agricultural Supply and Demand Estimates

    The U.S. cotton projections for 2013/14 include lower production, exports, and ending stocks compared with 2012/13. Projected production is reduced 19 percent to 14.0 million bales, based on regional average abandonment and yields. Abandonment for the Southwest region is projected at 25 percent due to continued drought conditions. Domestic mill use is projected at 3.5 million bales, 100,000 bales above 2012/13. Exports are projected at 11.5 million bales, down 13 percent from 2012/13, due to the smaller available domestic supply and lower imports by China. Ending stocks are reduced to 3.0 million bales, equal to 20 percent of total use, which is well below the previous 10-y ear average. The forecast range for the marketing year average price re ceived by producers is 68.0 to 88.0 cents per pound, compared with 72.0 cents estimated for 2012/13.

    The initial 2013/14 world cotton projections show world ending stocks of nearly 93 million bales, the third consecutive seasonal record, as China’s policy of stockpiling cotton in its national reserve is assumed to continue. World production is projected nearly 3 percent lower than 2012/13 at 117.8 million bales, as reductions, mainly for the United States, China, Turkey, Greece, and Mexico, are partially offset by increases for Brazil, India, Pakistan, and Australia. World consumption is expected to rise 2 percent due to modest growth in world GDP. World trade is expected to fall 12 percent, as sharply lower imports by China and India are partially offset by increases for Pakistan, Turkey, Mexico and others. World ending stocks outside of China are projected to fall nearly 2.0 million bales.

    China’s national reserve stocks are currently expected to reach nearly 40 million bales at the end of 2012/13. Based on the government of China’s current reserve purchase and release prices and import quota policies, USDA is projecting that China will import 12.0 million bales in 2013/14 and will add 10 million bales to ending stocks as reserve purchases exceed reserve sales. T he resulting projected China ending stocks of 58.2 million bales would account for 63 percent of world stocks.

    For 2012/13, the final U.S. crop production estimate of 17.3 million bales is virtually unchanged from last month. U.S. exports are raised 250,000 bales, reflecting recent activity and stronger expected imports by China, which are raised 1.8 million balance from last month. India’s production and consumption also show significant increases.

    Complete WASDE pdf REPORT

    Tags: , ,

    Leave a Reply

    Name and Email Address are required fields. Your email will not be published or shared with third parties.

    Agfax Cotton News

    DTN Fertilizer Outlook: Slow Demand Holds Prices Down1-26

    DTN Cotton Open: Bounces Following Trader Data1-26

    Keith Good: Farmland Holds its Value Despite Drop in Commodity Prices1-26

    Shurley On Cotton: NCC Planting Intentions Could Sway Market1-25

    Rose On Cotton: Profitability In ’15? The “Ifs” Must Line Up Right.1-24

    Cleveland on Cotton: World Plantings Need Reduction. How Much?1-23

    Missouri: Insect Management Guide, Resistence Research1-23

    Texas Ag Forum, Austin, Feb. 201-23

    AFB Cotton Close: Futures Chart bearish Key Reversal1-23

    DTN Cotton Close: Reverses to Finish on New Low1-23

    Arkansas: Irrigation Expo Slated for Feb. 25 at Stuttgart1-23

    DTN Cotton Open: Hits New Session Highs on Robust Sales1-23

    Georgia: Heavy Rainfall, Drought Tested Farmers in 20141-23

    Alabama: Wiregrass Cotton Expo Scheduled Feb. 6 at Dothan1-23

    Arkansas: ASU’s Agribusiness Conference Slated Feb. 11 in Jonesboro1-23

    Keith Good: World Grain Inventories Headed for Highest in 30 Years1-23

    Doane Cotton Close: New Sales Continue to Drive Bearish Drop1-22

    DTN Cotton Close: Settles Modestly Lower1-22

    AFB Cotton Close: Futures Lower in Narrow Trade1-22

    Residential Propane Price Increases, Heating Oil Declines1-22

    Propane Stocks Fall Over 3M Barrels1-22

    Gasoline Prices Continue Downward1-22

    Farming and Bankruptcy – 9 Lessons You Need to Know1-22

    Diesel Drops Below $31-22

    Louisiana: Cover Crop Benefits and Management Options1-22

    Old World Bollworm Coming Soon to U.S. Mainland — DTN1-22

    Cotton: Monsanto’s New Herbicide Tolerant Variety Approved1-22

    DTN Cotton Open: Futures Start Just Above Unchanged1-22

    Tennessee Cotton: UT’s XtendFlex Variety Trials Data Available1-22

    Keith Good: U.S. Sorghum Demand Spikes as China Imports Increase1-22

    AFB Cotton Close: Higher in Narrow Range1-21

    Ag Policy: Trade May Be Only Bright Spot in 2015 Politics – DTN1-21

    Doane Cotton Close: Low Volume, Thin Trade1-21

    DTN Cotton Close: Edges Higher in Old-Crop Deliveries1-21

    Texas Crop Weather: Cotton Harvest Wrap-Up Delayed by Wet Weather1-21

    Row Crop Margin Squeeze: 12 Strategies To Help You Survive1-21

    DTN Cotton Open: Futures Start Slightly Higher1-21

    Family Farm Bankruptcy Clarification Act – 2 Important Points for Hard Times1-21

    Keith Good: Midwest Grain Farmers Brace for Big Losses in 20151-21

    Farmland Values Still Historically High in the Longterm – Regional Report1-20