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 Cotton Open: Falls to New Low in December7-31

    U.S. Energy: Global Growth in Gasoline Use Outpacing Diesel7-31

    Gasoline Prices: Decrease by 5 Cents7-31

    Propane Stocks: Continue to Rise7-31

    Diesel Prices: Average Drops a Penny7-31

    Keith Good: China’s Import Restrictions Could Impact U.S. Corn Supply7-31

    Cotton – Southwest Growers Seeing More Disease, Insects – AgFax7-30

    Cleveland on Cotton: Harvest Weather Dictates Market’s Next Big Move7-30

    DTN Cotton Close: Falls to Another New Contract Low7-30

    Doane Cotton Close: Triple-Digit Losses in Most Contracts7-30

    DTN Fertilizer Trends: Slow Season Expected for Fertilizer Booking7-30

    Cotton In Southeast – Stink Bugs Build But Plant Bugs, Aphids Linger – AgFax7-30

    AgFax Cotton Review: Possible Rise in Chinese Imports; Pigweed Problems in Texas7-30

    USDA Preps for Possible Invasion by Old World Bollworm — DTN7-30

    Georgia Cotton: Target Leaf Spot Appearing7-30

    DTN Cotton Open: Ticks Quietly Just Above Unchanged7-30

    Keith Good: C.O.O.L. Rules for Packaged Meat Upheld by Appeals Court7-30

    Doane Cotton Close: Sharp Losses on Improved Conditions7-29

    Keeping Farm Management in Line with Increasing Regulations – DTN7-29

    DTN Cotton Close: Ends on New Contract Low7-29

    Mississippi: MSU Wild Hog Research Needs Foresters, Farmers7-29

    Texas Crop Weather: Fall Armyworms Out Early Due to Unseasonable Rains7-29

    Virginia Cotton: 1 Spray or 2 for Insects?7-29

    Georgia Cotton: Spots Found on Lower Leaves7-29

    DTN Cotton Open: Trades Lower in Early Going7-29

    Mississippi: Bollworm Counts at High Levels7-29

    Alabama Cotton: Spider Mite Control Proves Tricky7-29

    Keith Good: Bugs’ Resistance to GMO Corn in Brazil Proving Costly7-29

    California: Over 75% of Cotton Has Set Bolls – USDA7-28

    Virginia: Tornado Damages Crop, Conditions Lower Than Last Year7-28

    Doane Cotton Close: Rebounds from Oversold Conditions7-28

    Arkansas: Rice Heading, Heat Units Need in Some Areas – USDA7-28

    Mississippi: Crops Look Good, Rains Prevent Some Field Work – USDA7-28

    Oklahoma: Crop Conditions Positive Despite Triple-Digit Temps – USDA7-28

    Texas: Cotton Squaring, Forming Bolls, Sugarcane Aphids Will in Sorghum – USDA7-28

    Alabama: Scattered Rainfall, Army Worms In Certain Areas – USDA7-28

    North Carolina: Rains Benefit Crops, Slow Field Work – USDA7-28

    AFB Cotton Close: Moves Higher in Narrow Range7-28

    Crop Progress: Corn, Soybean Conditions Decline, Still at Historical Highs – DTN7-28

    Arizona: Cotton Squaring Complete, Winter Wheat Harvested – USDA7-28