Latest news with #USDA
Yahoo
2 hours ago
- Business
- Yahoo
Sugar Prices Higher as USDA Curbs Specialty Sugar Imports
October NY world sugar #11 (SBV25) today is up +0.29 (+1.78%), and August London ICE white sugar #5 (SWQ25) is up +17.30 (+3.69%). Sugar prices are trading higher today. The USDA announced late Monday that the US will not import any specialty sugar beyond what is required by international trade laws, "in alignment with Secretary Rollins' Farmers First policies." Coffee Prices Surge on Dry Conditions in Brazil and Tariff Threats Coffee Prices Sharply Higher on Dry Weather in Brazil and Tariff Threats Grain Market Bears Seized the Moment Last Week. What That Means for Corn, Soybeans, and Wheat. Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. On the bearish side, Pakistan today revised its sugar tender (with bids due July 22) sharply lower to 50,000 MT from its previous indication of a 300,000 MT tender. Pakistan's cabinet on July 8 approved an increase in sugar imports to stop what it called artificially high domestic sugar prices. Expectations for a sugar surplus in 2025/26 are bearish for sugar prices. On June 30, commodities trader Czarnikow projected a 7.5 MMT global sugar surplus for the 2025/26 season, the largest surplus in 8 years. On May 22, the USDA, in its biannual report, projected that global 2025/26 sugar production would increase by +4.7% y/y to a record 189.318 million metric tons (MMT), with global sugar ending stocks at 41.188 MMT, up 7.5% y/y. The outlook for higher sugar production in India, the world's second-largest producer, is bearish for prices. On June 2, India's National Federation of Cooperative Sugar Factories projected that India's 2025/26 sugar production would climb +19% y/y to 35 MMT, citing larger planted cane acreage. The outlook for abundant rainfall in India could lead to a bumper sugar crop, which is bearish for prices. On April 15, India's Ministry of Earth Sciences projected an above-normal monsoon this year, with total rainfall forecast to be 105% of the long-term average. India's monsoon season runs from June through September. On Monday, the India Meteorological Department reported that rainfall in June was 9% above normal in India and has forecast above-normal rain for July. Signs of larger global sugar output are negative for prices. On May 22, the USDA's Foreign Agricultural Service (FAS) predicted that Brazil's 2025/26 sugar production would rise +2.3% y/y to a record 44.7 MMT. Also, India's 2025/26 sugar production is projected to rise +25% y/y to 35.3 MMT, citing favorable monsoon rains and increased sugar acreage. In addition, Thailand's 2025/26 sugar production is expected to climb +2% y/y to 10.3 MMT. In a bearish factor, the Indian government said on January 20 that it would allow its sugar mills to export 1 MMT of sugar this season, easing the restrictions placed on sugar exports in 2023. India has restricted sugar exports since October 2023 to maintain adequate domestic supplies. India allowed mills to export only 6.1 MMT of sugar during the 2022/23 season to September 30, after allowing exports of a record 11.1 MMT in the previous season. However, the ISMA projects that India's 2024/25 sugar production will fall by -17.5% y/y to a 5-year low of 26.2 MMT. Also, the ISMA reported last Monday that India's sugar production from Oct 1-May 15 was 25.74 MMT, down -17% from the same period last year. In addition, Indian Food Secretary Chopra said on May 1 that India's 2024/25 sugar exports may only total 800,000 MT, below earlier expectations of 1 MMT. The outlook for higher sugar production in Thailand is bearish for sugar prices. On May 2, Thailand's Office of the Cane and Sugar Board reported that Thailand's 2024/25 sugar production rose +14% y/y to 10.00 MMT. Thailand is the world's third-largest sugar producer and the second-largest exporter of sugar. Sugar prices have some support from reduced sugar production in Brazil. Unica reported today that the cumulative 2025/26 Brazil Center-South sugar output through June is down by -14.3% y/y to 12.249 MMT. Last month, Conab, Brazil's government crop forecasting agency, said 2024/25 Brazil sugar production fell by -3.4% y/y to 44.118 MMT, citing lower sugarcane yields due to drought and excessive heat. The International Sugar Organization (ISO) raised its 2024/25 global sugar deficit forecast to a 9-year high of -5.47 MMT on May 15, up from a February forecast of -4.88 MMT. This indicates a tightening market following the 2023/24 global sugar surplus of 1.31 MMT. ISO also cut its 2024/25 global sugar production forecast to 174.8 MMT from a February forecast of 175.5 MMT. The USDA, in its bi-annual report released May 22, projected that global 2025/26 sugar production would climb +4.7% y/y to a record 189.318 MMT and that global 2025/26 human sugar consumption would increase +1.4% y/y to a record 177.921 MMT. The USDA also forecasted that 2025/26 global sugar ending stocks would climb +7.5% y/y to 41.188 MMT. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Business
- Yahoo
Wheat Weakness Continuing on Tuesday
The wheat complex is down across the three markets early on Tuesday. Wheat is trading with losses across the three markets on Monday. Chicago SRW wheat posted 3 to 4 cent losses on Monday. July futures expired, as there were 5 more deliveries , taking the months total to 243. KC HRW contracts were down 1 to 2 cents on the day. There were 3 deliveries against July on Monday evening, with the full month total at 851. MPLS spring wheat was down 10 to 11 cents on Monday. The Monday afternoon Crop Progress report showed the US winter wheat crop at 63% harvested, 1% below the 5-year average pace. The Spring wheat crop was 78% headed, 3% ahead of normal, with conditions up 4% to 54% gd/ex, as the Brugler500 index was up 4 points to 345. Coffee Prices Surge on Dry Conditions in Brazil and Tariff Threats Coffee Prices Sharply Higher on Dry Weather in Brazil and Tariff Threats Grain Market Bears Seized the Moment Last Week. What That Means for Corn, Soybeans, and Wheat. Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Export Inspections data showed a total of 438,533 (16.15 mbu) of wheat shipped in the week of 7/10. That is down 15.84% from last week and 29.34% below the same week in 2024. Mexico was the top destination of 162,639 MT, with 65,999 MT headed to the Philippines and 36,121 MT to South Korea. Marketing year shipments are now at 2.283 MMT (83.9 mbu), which is 3.04% below the same period last year. Over the weekend President Trump announced a 30% tariff on the EU and Mexico starting on August 1. On Monday morning, Trump threatened Russian with secondary tariffs (on Russian trade partners) if there is no deal to end the Russian/Ukraine war in 50 days. A Taiwan flour mill has issued a tender to buy 89,650 MT of US wheat Jul 25 CBOT Wheat closed at $5.34, down 6 3/4 cents, Sep 25 CBOT Wheat closed at $5.41 1/2, down 3 1/2 cents, currently down 5 cents Jul 25 KCBT Wheat closed at $5.05 3/4, up 1 1/2 cents, Sep 25 KCBT Wheat closed at $5.23, down 1 1/4 cents, currently down 3 3/4 cents Jul 25 MGEX Wheat closed at $5.98 1/4, Sep 25 MGEX Wheat closed at $6.04 3/4, down 10 cents, currently down 3/4 cents On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Zawya
7 hours ago
- Business
- Zawya
Corn resumes slide as strong US crop prospects weigh
PARIS/CANBERRA - Chicago corn futures eased on Tuesday, with a bounce from contract lows petering out as U.S. government data confirmed favourable conditions for this year's corn crop. Soybeans edged down, with strong crop ratings also weighing on prices, while wheat futures also fell with advancing northern hemisphere harvests hanging over the market. Investors were looking ahead to U.S. inflation data later on Tuesday for further direction, while continuing to assess the possible impact of sweeping tariffs proposed by U.S. President Donald Trump. The U.S. Department of Agriculture (USDA) said on Monday that 74% of the U.S. corn crop and 70% of the soybean crop were in good-or-excellent condition - the highest July ratings since 2016. Forecasts continued to point to a favourable mix of moderate heat and regular rain in the week ahead for the U.S. Midwest. "U.S. weather looks great, seasonals are broadly bearish," Peak Trading Research said in a note. "Markets have shaken off Trump's new tariff volleys and are now nervously anticipating today's CPI print," it said, referring to the Consumer Price Index. The most-active corn contract on the Chicago Board of Trade (CBOT) was down 0.7% at $4.15-1/4 a bushel by 1039 GMT. The December delivery contract hit a low of $4.07-1/2 on Monday. CBOT soybeans edged down 0.4% to $10.03-1/2 a bushel after touching $9.98-1/4 on Monday, their lowest level since April 9. CBOT wheat eased 0.5% to $5.39 a bushel. Corn had regained some ground on Monday and earlier on Tuesday, with analysts seeing the market prone to bounces at current low levels. "We remain fundamentally constructive on CBOT corn and see value for consumers at current levels," analysts at JPMorgan said, calling the corn market oversold. China, the world's biggest soybean buyer, imported record volumes of soy in June, a Reuters calculation of customs data showed, driven by a surge in shipments from top supplier Brazil. The National Oilseed Processors Association is expected to say the U.S. soybean crush dropped in June to a four-month low, analysts said, though it would still be the largest June crush on record due to expanded processing capacity. The wheat market is awaiting the outcome of an import tender being held by Algeria for a potential demand boost amid the arrival of large crops across the northern hemisphere. Prices at 1039 GMT Last Change Pct Move CBOT wheat 539.00 -2.50 -0.46 CBOT corn 415.25 -2.75 -0.66 CBOT soy 1003.50 -3.50 -0.35 Paris wheat 198.00 0.75 0.38 Paris maize 206.75 0.25 0.12 Paris rapeseed 469.00 3.25 0.70 WTI crude oil 66.52 -0.46 -0.69 Euro/dlr 1.17 0.00 0.11 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton.
Yahoo
7 hours ago
- Business
- Yahoo
Soybeans Losses Continue as Ratings Improve
Soybeans are 3 to 5 cents lower as Tuesday morning trade kicks off. Futures slipped lower on the Monday session, with contracts fractionally to 4 cents in the red. July expired on Monday, with 204 deliveries and 1,327 for the month. The cmdtyView national average Cash Bean price was down 3 ¼ cents at $9.61 1/2. Soymeal futures were down $1.50 to $2.60/ton, as Soy Oil was 25 to 42 points higher. There were 111 deliveries for July meal futures on Monday night, taking the total for the month to 4,703 as the contract expired. Monday afternoon's Crop Progress data indicated 47% of US soybean crop was blooming by Sunday even with the 5-year average, with% setting pods. Ratings were up 4% to 70%, with the Brugler500 index taking all 5 ratings into account up 7 points to 376. Coffee Prices Surge on Dry Conditions in Brazil and Tariff Threats Coffee Prices Sharply Higher on Dry Weather in Brazil and Tariff Threats Grain Market Bears Seized the Moment Last Week. What That Means for Corn, Soybeans, and Wheat. Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! On Monday morning, President Trump threatened Russian with secondary tariffs (on Russian trade partners) if there is no deal to end the Russian/Ukraine war in 50 days. USDA tallied soybean export shipments at 147,045 MMT (5.4 mbu) during the week ending on July 10. That was down 63.2% from last week and 16.1% below the same week last year. Mexico was the largest buyer of 32,507 MT in that week. Marketing year exports have totaled 46.411 MMT (1.705 bbu), which is 10.4% above the same period last year. Rains are expected to be rather widespread this next week according to NOAA's 7-day QPF, with much of the Corn Belt seeing 1 to 3 inches. NOPA data will be updated later today, with traders looking for an average of 185.19 mbu of soybeans crushed during June, which would be up nearly 10 mbu from last year. Soybean oil stocks are seen at an average of 1.374 billion lbs. Jul 25 Soybeans closed at $9.97, down 7 cents, Nearby Cash was $9.61 1/2, down 3 1/4 cents, Aug 25 Soybeans closed at $10.01, down 3 1/4 cents, currently down 4 1/2 cents Nov 25 Soybeans closed at $10.07, down 1/4 cent, currently down 3 cents New Crop Cash was $9.57 1/4, down 1/2 cent, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Fibre2Fashion
9 hours ago
- Business
- Fibre2Fashion
Global cotton output, stocks & consumption raised for 2025-26: WASDE
Global cotton output for the marketing season 2025-26 is estimated at 118.42 million bales (each weighing 480 pounds or 208.65 kg) in the July 2025 World Agricultural Supply and Demand Estimates (WASDE) report by the United States Department of Agriculture (USDA). It has been raised from 116.99 million bales estimated in the June report. The 1.43 million bale increase is driven by a 1 million-bale rise in China's crop, a 600,000-bale increase in the US crop, and a 100,000-bale rise in Mexico's crop, partially offset by reductions in Pakistan and Egypt. USDA's July 2025 WASDE report raises global cotton production for 2025â€'26 to 118.42 million bales, up 1.43 million from June, led by higher output in China, US and Mexico. Consumption and ending stocks also rose, while imports, exports, and beginning stocks were revised down. US production is forecast at 14.60 million bales. The season-average upland price remains unchanged at 62 cents per pound. However, estimates for cotton imports, exports, and beginning stocks have been revised downward. Global consumption has been raised by 365,000 bales to 118.12 million bales, with increases in Pakistan and Mexico partially offset by reductions in Italy and Germany. Global exports are lowered by 100,000 bales to 44.69 million bales. Beginning stocks for 2025–26 are reduced by 510,000 bales to 76.78 million bales, reflecting lower stock levels in the United States and China and minor adjustments elsewhere. Ending stocks for 2025–26 are projected at 77.32 million bales, up 520,000 bales from the previous estimate, as higher production more than offsets the increase in consumption and the reduction in beginning stocks. The July 2025 WASDE report for 2025-26 for the United States also shows higher production and ending stocks, lower beginning stocks, and unchanged consumption and import estimates compared to the June report. Planted area has been raised to 10.12 million acres, based on the NASS June Acreage report. Harvested area is up by 6 per cent to 8.66 million acres, reflecting both higher planting and lower abandonment in the Southwest, which is partially offset by higher abandonment in the Southeast. The national average yield for 2025–26 is reduced by 1 per cent to 809 pounds per harvested acre, as reduced abandonment in the Southwest leads to the harvesting of more lower-yielding dryland acres. As the increase in harvested area exceeds the reduction in yield, the production forecast is increased by 600,000 bales compared to June's projection, reaching 14.60 million bales—up from 14.41 million last year. Beginning stocks for 2025–26 are lowered by 300,000 bales following a corresponding increase in projected exports for 2024–25. These revisions result in an estimated ending stock of 4.60 million bales for 2025–26, up 300,000 bales from last month, translating to a stocks-to-use ratio of 32.4 per cent. The projected season-average upland price for 2025–26 remains unchanged at 62 cents per pound. Fibre2Fashion News Desk (KUL)
