DJ U.S. May Coffee, Cocoa Imports-Jul 3
In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
—-May 2014—- —-Apr 2014—-
-coffee- kilograms pounds kilograms pounds
coffee, unroasted 126,809,980 279,616,006 121,220,623 267,291,474
coffee, roasted 4,998,267 11,021,179 6,084,110 13,415,463
coffee, soluble
instant 3,536,182 7,797,281 3,455,851 7,620,151
-Cocoa-
cocoa beans 27,016,110 59,570,523 59,137,223 130,397,577
sweetened bars/block
10 lbs or over 1,989,143 4,386,060 1,858,907 4,098,890
for retail candy 0 0 785 1,731
cocoa butter 7,987,305 17,612,008 12,396,335 27,333,919
cocoa paste,
not defatted 2,183,795 4,815,268 1,579,532 3,482,868
cocoa paste
defatted 4,144,959 9,139,635 2,968,837 6,546,286
cocoa powder,
unsweetened 8,490,119 18,720,712 7,976,851 17,588,956
cocoa powder,
sweetened 396 873 1,097 2,419
confectioners
coating 1,926,484 4,247,897 2,176,855 4,799,965
candy containing
chocolate 8,100,156 17,860,844 9,228,910 20,349,747
DJ UN: Global Food Prices Fall for Third Consecutive Month in June
By Neena Rai
World food prices fell for the third consecutive month in June led by declines in cereal and vegetable oil prices, data from the United Nations food body showed Thursday.
The U.N.’s food index–the world’s leading indicator of food inflation that measures the monthly change in prices of a basket of edible commodities–averaged 206 points in June, down 1.8% on the previous month, hitting its lowest level since January.
The monthly food-price index measures the change in price of a basket of various food commodities and is a leading indicator for food inflation.
The index had risen to a 10-month high in March as concerns emerged over cereal supply from major producer Ukraine.
Vegetable oil prices fell 3.3% on May as “quotations for palm oil, the most widely traded edible oil, fell to a nine-month low last month, as seasonally high output coincided with subdued global import demand,” said the U.N. Meanwhile, cereal prices fell 5.2% from last month on improved global crop prospects for both wheat and corn and also waning concerns surrounding disruptions to output from major grower Ukraine.
The U.N. Food and Agriculture Organization also said it expects global wheat output this year to hit 702.7 million tons–slightly up on its May forecast, but still 1.8% lower than the 2013 record harvest.
COTTON
General Comments: Futures were lower on follow through selling. Prices acted as if the market might be able to hold current lows though the end of the week, which is today due to the holiday in the US. Good weather and increasingly good production prospects combined with the increased planted area to create ideas of big production. USDA should show good progress and condition in its weekly updates that came out after the close. More rain will be needed to support good growth in Texas, but there is some rain in the forecast for later this week. Brazil conditions are reported to be good in Bahia with warm temperatures and a few showers. Conditions are called good to very good in India and Pakistan as showers have been noted in the south and a few showers have appeared in the north. Demand remains weak, and China is expected to stay out of the market for now as it moves supplies from government inventories. Chinese demand will be needed for big rallies.
Overnight News: The Southeast and Delta will get dry weather except for Atlantic coastal rains from Arthur. Temperatures will average near to above normal. Texas will see dry weather. Temperatures will average near to above normal. The USDA spot price is 73.65 ct/lb. today. ICE said that certified Cotton stocks are now 0.461 million bales, from 0.458 million yesterday. USDA said that net Upland Cotton export sales were 34,900 bales this year and 59,700 bales next year. Net Pima sales were 6,600 bales this year and 100 bales next year.
Chart Trends: Trends in Cotton are down with objectives of 72.80 December. Support is at 72.80, 72.40, and 71.80 December, with resistance of 74.20, 75.30, and 76.10 December.
DJ U.S. May Cotton Exports – Jul 3
In kilograms and in running 480-pound bales. Source. U.S. Department
Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
May 14 Apr 14 Mar 14 May 13(*)
Upland, under 1 inch 1,888,595 1,462,619 5,867,095 4,238,697
1 to 1 1/8 inch 92,374,699 120,023,130 139,430,791 120,768,995
upland 1 1/8 and over 90,546,446 105,760,585 136,081,821 169,014,346
Amer pima, over 1 1/8 inc 5,170,598 7,860,483 12,878,782 8,010,019
All cotton 189,980,338 235,106,817 294,258,489 302,032,057
——- In Running 480-Pound Bales ——-
May 14 Apr 14 Mar 14 May 13(*)
Upland, under 1 inch 8,674 6,718 26,947 19,468
1 to 1 1/8 inch 424,274 551,262 640,400 554,687
upland 1 1/8 and over 415,876 485,754 625,019 776,277
Amer pima, over 1 1/8 inc 23,748 36,103 59,152 36,790
All cotton 872,573 1,079,837 1,351,518 1,387,222
DJ China Zhengzhou Cotton Futures Closing Prices, Volume
Thursday, July 3 2014
Product Settle PrevSettle Change Open High Low Volume Open Int
CF407 16,630.00 16,630.00 0.00 0.00 0.00 0.00 0 32
CF409 16,715.00 16,995.00 -280.00 16,960.00 16,995.00 16,600.00 5,548 25,142
CF411 15,180.00 15,325.00 -145.00 15,245.00 15,280.00 15,130.00 1,910 8,808
CF501 14,850.00 15,045.00 -195.00 14,960.00 14,960.00 14,770.00 121,540 241,514
CF503 14,925.00 15,100.00 -175.00 14,925.00 14,970.00 14,865.00 58 490
CF505 14,980.00 15,220.00 -240.00 15,095.00 15,095.00 14,880.00 10,184 31,130
Notes:
1) Unit is Chinese yuan a metric ton;
2) Change is the day’s settlement minus previous settlement;
3) Volume and open interest are in lots;
4) One lot is equivalent to 5 metric tons.
FCOJ
General Comments: Futures closed higher. It was a recovery day seen on ideas that prices have moved down enough and as some systems formed in the Atlantic. There do not appear to be any major storms in sight in the Atlantic to hurt production. A tropical system has formed in the Atlantic, but does not appear likely to become strong enough to be a threat. It is expected to move north and away from production areas. Traders still anticipate another short production year next year due to the greening disease. The next Florida production looks good. Fruit is marble sized or bigger, and trees are showing a lot of new growth. The Valencia harvest continues to show progress and should be winding down now. Production areas in Brazil need more precipitation but are looking at a dry week. Weak overall Florida production and the overall dry weather in Brazil that could impact production there continues to support prices longer term.
Overnight News: Florida weather forecasts call for scattered showers. Temperatures will average near to above normal. Brazil should be mostly dry and warm.
Chart Trends: Trends in FCOJ are down with no objectives. Support is at 146.00, 144.00, and 142.00 September, with resistance at 150.00, 154.00, and 155.00 September.
DJ Florida FCOJ Movement And Pack – Jul 2
In mm ps, (million pounds solid). Source: Florida Department of Citrus (FDOC)
WEEK ENDING: 6/21/2014
Corresponding
Current Week Last
Week Season
6/21/2014 6/22/2013 % Change
CARRY OVER, RECEIPT & PACK
Carry Over
Bulk 324.51 400.71 -19.0%
Retail/Institutional 7.58 7.66 -1.1%
Total 332.09 408.37 -18.7%
Pack
Bulk 1.59 1.00 59.7%
Retail/Institutional 2.04 2.04 0.1%
Total Pack 3.63 3.03 19.7%
Reprocessed -3.63 -3.03 -19.7%
Pack from Fruit 0.00 0.00 100+%
Receipts & Losses
Net Gain or Loss -0.03 -0.08 66.0%
Imports – Foreign 1.34 1.88 -28.7%
Domestic Rcpts of Non-FL Product 0.03 – 100.0%
Receipts of FL Product from Non-Member – 0.15 -100.0%
Chilled OJ used in FCOJ 0.01 – 100.0%
Reprocessed FCTJ – 0.02 -100.0%
Total Carry Over, Receipt & Pack
Bulk 323.83 400.65 -19.2%
Retail/Institutional 9.62 9.70 -0.8%
Total 333.45 410.35 -18.7%
MOVEMENT
Bulk
Domestic 5.00 6.12 -18.3%
Exports 0.16 0.56 -71.0%
Total (Bulk) 5.16 6.69 -22.8%
Retail/Institutional
Domestic 1.80 2.11 -14.7%
Exports – - NC
Total (Retail/Inst) 1.80 2.11 -14.7%
Total Movement 6.96 8.80 -20.8%
ENDING INVENTORY
Bulk 318.67 393.96 -19.1%
Retail/Institutional 7.82 7.59 3.0%
Ending Inventory 326.49 401.55 -18.7%
Total Same
Total Season Period Last
CARRY OVER, RECEIPT & PACK To Date Season
Carry Over 6/21/2014 6/22/2013 % Change
Bulk 311.51 246.18 26.5%
Retail/Institutional 7.96 7.95 0.2%
Total 319.47 254.13 25.7%
Pack
Bulk 253.35 408.42 -38.0%
Retail/Institutional 63.83 71.19 -10.3%
Total Pack 317.18 479.61 -33.9%
Reprocessed -168.99 -163.21 -3.5%
Pack from Fruit 148.18 316.41 -53.2%
Receipts & Losses
Net Gain or Loss -0.64 -1.31 50.8%
Imports – Foreign 157.76 164.27 -4.0%
Domestic Receipts of Non-Florida Product 2.82 4.19 -32.8%
Receipts of FL Product from Non-Member 0.78 0.28 100+%
Chilled OJ used in FCOJ 3.18 4.41 -28.0%
Reprocessed FCTJ 2.69 0.34 100+%
Total Carry Over, Receipt & Pack
Bulk 562.44 663.57 -15.2%
Retail/Institutional 71.79 79.14 -9.3%
Total 634.23 742.71 -14.6%
MOVEMENT
Bulk 202.16 216.20 -6.5%
Domestic 41.62 53.41 -22.1%
Exports 243.77 269.61 -9.6%
Total (Bulk)
Retail/Institutional 63.97 71.55 -10.6%
Domestic – - NC
Exports 63.97 71.55 -10.6%
Total Movement 307.74 341.16 -9.8%
ENDING INVENTORY
Bulk 318.67 393.96 -19.1%
Retail/Institutional 7.82 7.59 3.0%
Ending Inventory 326.49 401.55 -18.7%
COFFEE
General Comments: Futures closed higher, with speculators unwilling to push prices below current Support areas near 170.00 September. Roasters seem more interested in buying, although many buyers are on vacation now. Offers are finding mixed buying interest in Central America. Farmers in Brazil are selling and exporting crops from the previous year to make up for any shortfalls in the current production. No one really knows what the production will be, and the difference between low end estimates and high end estimates remains very wide. The harvest should be moving quickly. Reports indicate that Vietnam is mostly quiet. Vietnamese growing conditions have been drier than normal and it is possible that production for next year will be impacted. Rains are good in parts of Central America, but Nicaragua and Costa Rica are too dry.
Overnight News: Certified stocks are lower today and are about 2.497 million bags. The ICO composite price is now 151.67 ct/lb. Brazil will get mostly dry weather. Temperatures will average near to above normal. Colombia should get scattered showers, and Central America and Mexico should get some showers in most areas, but mostly in Eastern Mexico and northern Central America. Temperatures should average mostly above normal.
Chart Trends: Trends in New York are mixed. Support is at 170.00, 167.00, and 166.00 September, and resistance is at 179.00, 183.00 and 185.00 September. Trends in London are mixed to up with objectives of 2070, 2085, and 2145 September. Support is at 1990, 1970, and 1960 September, and resistance is at 2070, 2100, and 2150 September. Trends in Sao Paulo are mixed. Support is at 203.50, 202.00, and 200.00 September, and resistance is at 212.00, 215.00, and 222.00 September.
DJ U.S. May Coffee Imports – Jul 3
Source: U.S. Commerce Department.
(Data is for non-roasted and non-decaffeinated arabica coffee,
in kilograms)
Origin Jan-May 2014 Apr 14 May 14
World Total 396,693,000 87,081,787 93,498,216
Belgium 213,133 76,214 42,479
Bolivia 57,550
Brazil 123,463,045 22,754,338 28,930,410
Burundi 723,145 116,346 80,643
Canada 4,630
China 811,920 172,800 326,400
Colombia 89,445,511 18,636,194 15,411,642
Congo (Brazzavil 57,600
Congo (Kinshasa) 422,545 134,400 115,231
Costa Rica 18,924,302 5,346,184 4,445,216
Djibouti 19,200
Dominican Republ 19,150 4,984 924
Ecuador 134,410 30,000 1,750
Ethiopia 5,331,371 1,362,822 1,840,588
3,551,363 1,020,867 2,021,711
Germany 246,020 81,041 29,712
Guatemala 34,494,352 9,221,467 10,104,800
Haiti 9,575 864
Honduras 20,118,040 5,260,392 5,619,347
India 633,948 203,452 91,245
Indonesia 12,699,985 2,211,128 3,478,000
Israel 23,900 10,802
Italy 2,894
Jamaica 24,645 70 11,805
Kenya 1,951,014 470,647 849,162
Malawi 187,200 19,200 16,800
Mexico 22,786,144 4,886,742 6,113,647
Nicaragua 19,080,142 6,265,732 6,292,373
Panama 367,038 64,269 299,542
Papua New Guinea 4,617,218 781,533 396,775
Peru 10,713,701 1,177,923 766,997
Rwanda 1,335,609 157,858 19,200
South Africa 55,080
Switzerland 277
Tanzania 3,536,452 644,479 480,011
Thailand 3,826 948 1,545
Uganda 1,904,066 357,780 784,842
United Kingdom 19,205
Vietnam 18,620,553 5,594,675 4,892,015
Yemen 64,040 16,500 32,540
Zambia 19,201
SUGAR
General Comments: Futures close a little higher in consolidation trading. Futures remain over sold for the short term and are near some support areas on the charts. The support held yesterday and more buying is possible today before the long weekend. Brazil production has been high so far this season as the drought has created some very good harvest conditions, but should tail off sharply as the harvest period progresses as the drought has in fact hurt overall production potential. Overall conditions are good in India. The Indian monsoon is getting off to a weak start, and production will most likely be down this year, but some below normal monsoon rains were seen in the last couple of weeks and more are expected next week. Crop potential in Russia and Ukraine is called good, and North American crops appear to be in good condition.
Overnight News: Brazil could see dry conditions and near to above normal temperatures.
Chart Trends: Trends in New York are mixed to down with objectives of 1740 October. Support is at 1765, 1750, and 1720 October, and resistance is at 1800, 1825, and 1845 October. Trends in London are mixed to down with objectives of 442.00 and 411.00 October. Support is at 470.00, 465.00, and 461.00 October, and resistance is at 480.00, 484.50, and 488.50 October.
COCOA
General Comments: Futures moved a little lower on follow through selling. It looked like speculators were selling out recent long positions before the holiday. The fundamentals have not changed, but supplies from the mid crop appear to be available. The weather has been favorable and midcrop harvest results have been positive and imply a good to very good mid crop in West Africa. Production ideas have generally increased. Crop conditions are good in West Africa and generally good in Southeast Asia, as both regions are reporting frequent rains to support good production, but sporadic enough that harvesting is not seriously hurt. The weather is too dry in Brazil, but it is the dry season, and production losses do not seem to be expected at this time.
Overnight News: Scattered showers are expected in West Africa. Temperatures will average mostly above normal. Malaysia and Indonesia should see scattered showers, with best amounts and coverage in Indonesia. Temperatures should average near to above normal. Brazil will get dry conditions or light showers and near to above normal temperatures. ICE certified stocks are higher today at 4.981 million bags.
Chart Trends: Trends in New York are mixed to up with objectives of 3145 September. Support is at 3100, 3080, and 3075 September, with resistance at 3140, 3150, and 3180 September. Trends in London are mixed. Support is at 1910, 1905, and 1890 September, with resistance at 1965, 1990, and 2020 September.
DJ U.S. May Cocoa Imports – Jul 3
Source: U.S. Commerce Department.
(Data is for cocoa beans, whole or broken, raw or roasted, in kilograms)
Origin Jan-May 2014 Apr 14 May 14
World Total 292,950,617 59,137,223 27,016,110
Belgium 25,820 1,280 7,080
Belize 10,015 10,015
Canada 19,456 2,313 4,536
Colombia 2,011 1,503
Costa Rica 39,380
Cote d’Ivoire 203,914,353 38,117,472 9,577,159
Dominican Republ 7,241,870 1,556,251 2,118,490
Ecuador 26,714,157 7,237,336 6,248,362
El Salvador 3,194 700
Fiji 2,375
France 8,147 747 4,200
Ghana 37,028,600 10,175,000 7,900,000
Haiti 848,656 422,204 100,800
India 100
Indonesia 110,061 12,500 1,061
Jamaica 7,000
Liberia 4,000
Madagascar 342,256 12,675 38,092
Mexico 5,925
Netherlands 5,000
Nicaragua 10,773 10,083
Nigeria 11,338,861 530,000 720,195
Panama 20,000
Papua New Guinea 2,876,786 419,124
Peru 974,096 276,866 182,782
Philippines 12,000
Switzerland 22,131 448
Tanzania 34,019 25,019
Togo 652,685
Venezuela 676,890 363,440 75,600
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