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 Close: Plunges to new Contract Low7-24

    Georgia Cotton: Tarnished Plant Bug Numbers Higher Than Normal7-24

    DTN Cotton Open: Trades with Modest Losses7-24

    U.S. Energy: Refineries Running at Record Levels7-24

    Gasoline Prices: Show 4-Cent Decrease7-24

    Propane Stocks: Continue to Rise7-24

    Diesel Prices: Average Declines by 3 Cents7-24

    Keith Good: House Ag Committee Chair Prods USDA on Crop Insurance7-24

    Doane Cotton Close: Prices Mixed in Light Trade7-23

    AFB Cotton Close: Dec. Continues Slight Gains7-23

    10 Arkansas and 2 Tennessee Counties Designated Natural Disaster Areas7-23

    DTN Cotton Close: Slight Gains in Dec.7-23

    Drones Monitoring the Garden or Your Crop? One is Legal, one is not.7-23

    Virginia Cotton: Time to be Concerned about Stink Bugs7-23

    Cotton In The Midsouth – Plant Bugs Persist As Bollworms Arrive – AgFax7-23

    DTN Cotton Open: Ticks Higher in Quiet Dealings7-23

    Cotton – Plant Bugs, Stink Bugs Overlapping In Parts Of Southeast – AgFax7-23

    California Cotton: Flea Beetle Numbers on Rise7-23

    North Carolina Cotton: Scouting for Boll Injury from Stink Bugs7-23

    Keith Good: EPA Rejects Milo-Pro Herbicide for Use in Texas Cotton7-23

    Cotton in Southwest: Blooms Spreading; Fleahopper, White Fly on the Move7-22

    Doane Cotton Close: ICAC Releases Supply and Demand Forecasts7-22

    AFB Cotton Close: Moves Higher on Continued Consolidation7-22

    DTN Cotton Close: Settles with Modest Gains7-22

    USDA: Don’t Forget Farm Bill Conservation Compliance Changes7-22

    AgFax Cotton Review: Worst Price Slump in 55 Years; Weather Delays Development7-22

    Texas Crop Weather: Hay Situation Good in East, Southeast, Iffy Elsewhere7-22

    Georgia: Crops in Mostly Good Condition with Some Heat Stress – USDA7-22

    South Carolina: Rains Benefit Crops but Some Areas Still Stressed – USDA7-22

    Alabama: Crops Hold Steady with Welcome Showers – USDA7-22

    DTN Cotton Open: Trades Above Highs of Prior 3 Days7-22

    North Carolina Cotton: Stink Bug Management7-22

    Tennessee: Milan No-Till Field Day Comes July 247-22

    Keith Good: Soybeans, Corn Garner High Condition Ratings, Lower Prices7-22

    California: Cotton Looks Good Where Growers Have Water – USDA7-21

    AFB Cotton Close: Market Consolidates Above Support7-21

    Missouri: Crops in Good Condition in Abnormally Cool Weather – USDA7-21

    Mississippi: Rains Continue to Delay Field Work – USDA7-21

    Arkansas: Soybean Planting, Replanting Wrapping Up – USDA7-21

    Texas: Open Cotton Bolls in the Coastal Bend; Peanuts Pegging in the South – USDA7-21