Brazil to surpass U.S. as cotton exporter in ‘very near future’
Already the world's leading soybean and corn supplier, Brazil is on track to pass the United States and become the largest cotton exporter in the very near future," said the National Cotton Council, an umbrella organization for the U.S. cotton industry.
Inflation and weather cloud global cotton outlook
Although world cotton production is forecast to be the highest in six years, there are “some concerning dark clouds on the horizon” as the 2023/24 season begins, said the International Cotton Advisory Committee.
U.S. dominance in ag export race is softening
The United States lost its place as the world's largest wheat exporter a decade ago, and now its leadership in exports of corn, cotton and tree nuts is being challenged, said a new USDA report. "Changes in global patterns of production and agricultural markets affected U.S. export competitiveness during the last two decades," said the Economic Research Service.
Drought slashes U.S. cotton outlook
Amid drought in the U.S. West, growers will abandon three of every 10 acres of cotton they planted this spring, estimated the Agriculture Department. In its monthly WASDE report, the USDA projected a cotton crop of 15.5 million bales, down by 1 million bales from its projection in early June.
Pandemic casts shadow on sunny cotton outlook
Global demand for cotton would reach an all-time high this year, thanks to the economic resurgence from the pandemic that has driven cotton prices to their highest level in a decade, said the National Cotton Council on Sunday. Despite the sunny outlook, prospects for this year's crop are clouded by rising production costs, supply chain disruptions and uncertainties about future impacts of Covid-19.
Weaker dollar will help meat and dairy but not cotton exports, says CoBank
U.S. farm exports are forecast by the USDA to hit a record $157 billion this year, aided by a weaker dollar against many foreign currencies. Agricultural lender CoBank says the impact will be somewhat uneven, with meat and dairy products benefiting the most.
Trade war could slow Chinese soy imports for years, says USDA
China will remain the world’s largest soybean importer in coming years even if the trade war with the United States is not settled, but it won’t be buying as much of the oilseed, said USDA analysts on Wednesday.
Potentially more profitable, cotton takes over soybean ground
Cotton growers plan to expand their plantings by a sharp 3 percent this spring, taking away land from soybeans, the most prominent casualty of the Sino-U.S. trade war, said the National Cotton Council over the weekend. Meanwhile, the USDA said the soybean stockpile will double in size by the time this year's crop is ready to harvest, creating the largest "carryover" ever.
Disruption in U.S. cotton and soy exports loom due to trade war
One of the world's largest grain companies warned of a "skinny export season" for U.S. soybeans and an intergovernmental body said the United States might need to seek new markets for its cotton due to President Trump's trade war with China. Meanwhile, the Trump administration threatened on Wednesday to put 25-percent tariffs on $200 billion worth of Chinese imports as leverage for reform.
Cotton prices sink as global production booms
Cotton production is rising in all of the major nations growing the fiber, and the United States is leading the way with a 23-percent increase, says the International Cotton Advisory Committee. The large crop, forecast by ICAC as 10-percent larger than in 2016/17, will drive down the season-average price to 69 cents a pound, a drop of 14 cents.
U.S. cotton exports leap 63 percent to second-largest ever
A rebound in cotton plantings and yields in 2016 resulted in a dramatic surge in exports in the trade year that ended Aug. 1, according to USDA's monthly Cotton and Wool Outlook. "A large supply of high-quality cotton pushed shipments to the second-highest on record."
U.S. growers to plant more cotton despite tight margins
Cotton growers say they will expand plantings 9 percent this year, displacing corn and some wheat to chase the highest market price in four years, says the National Cotton Council. Nonetheless, "2017 is shaping up to be another challenging year," said NCC economist Jody Campiche, because of high production costs and the struggling global economy.