TABLE-Brazil Soy, Sugar, Iron, Crude Exports Rise in Aug
SAO PAULO, Sept 1 (Reuters) – Brazilian exports of iron
ore, crude oil, soybeans and sugar rose in August from the same
month last year, contributing to a higher-than-expected trade
surplus, trade ministry data showed on Thursday.
Brazil posted an August trade surplus of $3.87
billion, the trade ministry said on Thursday, up from a $3.14
billion surplus in July.
Below is a table of Brazil’s key commodity exports. Crude
oil exports are expressed as average barrels per day exported.
BRAZIL MONTHLY COMMODITIES EXPORTS
Aug 2011 July 2011 Aug 2010
____________________________________________________________
COFFEE (60KG BAG) 2.592 MLN 1.812 MLN 2.808 MLN
SOYBEANS (TNS) 3.692 MLN 3.738 MLN 2.966 MLN
SOYMEAL (TNS) 1.204 MLN 1.179 MLN 1.037 MLN
SOYOIL (TNS) 122,000 163,000 178,000
CORN (TNS) 1.524 MLN 272,000 1.191 MLN
FCOJ (TNS) 189,000 128,000 184,000
SUGAR RAW (TNS) 2.670 MLN 2.292 MLN 2.211 MLN
SUGAR WHITE (TNS) 632,000 770,000 1.014 MLN
PULP (TNS) 832,000 674,000 707,000
ALUMINUM (TNS) 51,000 58,000 59,000
STEEL FLATROLL (TNS) 150,000 144,000 150,000
IRON ORE (TNS) 32.479 MLN 27.322 MLN 29.834 MLN
GASOLINE (TNS) 62,000 13,000 79,000
FUEL OILS (TNS) 518,000 461,000 568,000
CRUDE OIL (BPD) 720,000 616,000 653,000
COTTON LINT (TNS) 117,500 27,600 72,700
ETHANOL (LTR) 298 MLN 247 MLN 242 MLN

COTTON
General Comments: Futures closed mixed to a little higher yesterday in light volume trading. A positive export sales report helped the bulls. Small funds and mills were said to be the best buyers. Weather overall remains a supportive factor, as Texas remains hot and dry and as there has been adverse weather in parts of Asia this year. There is potential for a tropical storm to develop in the Gulf of Mexico that could damage quality if it moves into Louisiana and Mississippi. Chart trends are mixed for the short term. Demand remains soft. Countries like India are still offering Cotton at prices below those seen in the US, and the government is now allowing unrestricted exports for the next couple of months. Bad weather in the US is still around, with little rain in the forecast for major Texas growing areas for the next week.
Overnight News: The Delta and Southeast will get mostly dry conditions, but a few showers are possible starting Sunday. Temperatures will average above normal through Sunday, then will turn cooler. Texas will be mostly dry, but some showers are possible in the Panhandle on Sunday. Temperatures will average above normal through Sunday, then will turn cooler. The USDA average spot price is now 103.70 ct/lb. ICE said that certified Cotton stocks are now 0.016 million bales, from 0.016 million yesterday. USDA said that its Upland Cotton world market price is 91.20 ct/lb.
Chart Trends: Trends in Cotton are mixed. Support is at 105.00, 101.00, and 100.00 October, with resistance of 108.00, 110.00, and 112.00 October.

FCOJ
General Comments: Futures closed mixed as traders get ready for September deliveries that start today. Traders are now more interested in the tropical system seen in the eastern Atlantic. The system appears likely to move close to the East Coast once again, although for now it does not appear likely to hit Florida. It might not even hit the US depending on how the weather patterns set up. It is possible that a blocking front will keep the system away, but all this is too early to be forecast at this time. Charts show that trends are down. Florida is once again mostly warm and is getting scattered showers. Brazil is seeing warm temperatures and mostly dry conditions.
Overnight News: Florida weather forecasts call for scattered showers and storms. Temperatures will average near to above normal. ICE said deliveries were 57 contracts today and now total 557 contracts for the month.
Chart Trends: Trends in FCOJ are mixed. Support is at 159.00, 155.00, and 154.00 November, with resistance at 162.50, 163.50, and 165.00 November.

COFFEE
General Comments: Futures were higher in New York on follow through speculative buying tied to ideas of short supplies and little offer from origin. It was a pretty quiet session. In particular, Brazil producers are not selling. There is some fear there that the freezes seen a few weeks ago could have hurt flowering and will cut production potential. Speculators were the best buyers, and Industry and origin appeared to be quiet. Central America and Colombia can only sell new crop as the old crop appears sold out. Weather in Brazil is good at this time. Warm temperatures and dry conditions are likely into next week in Brazil. Better weather is reported in Mexico and Central America as rains are more like normal. London was lower on speculative selling, and trends in this market have turned down. Sao Paulo was near unchanged. Chart trends turned mixed for the short term in London, but remain generally up in New York and Sao Paulo.
Overnight News: Certified stocks are higher today and are about 1.469 million bags. ICE said that deliveries were 0 contracts today and now total 138 contracts for the month. The ICO composite price is now 234.26 ct/lb. Brazil should see mostly dry weather. Temperatures will average above normal.
Chart Trends: Trends in New York are up with no objectives. Support is at 282.00, 281.00, and 279.00 December, and resistance is at 290.00, 293.00, and 300.00 December. Trends in London are down with objectives of 2220 November. Support is at 2280, 2250, and 2235 November, and resistance is at 2335, 2410, and 2420 November. Trends in Sao Paulo are up with objectives of 372.00 and 408.00 December. Support is at 367.00, 365.00, and 358.00 December, and resistance is at 377.00, 380.00, and 384.00 December.

SUGAR
General Comments: Futures closed a little lower in New York and a little lower in London yesterday on what appeared to be speculative profit taking. It was a quiet market. Traders are weighing bullish and bearish factors for pricing Sugar these days. Reports that the crop in Brazil might get smaller provided more support, but seems played out as the market driver for now. Brazil lost Sugar production potential this year due to poor weather, but production in other parts of the world seems strong. Traders are watching to see how much more Sugar India is willing to export, and how much China might need to buy to keep prices there from spinning out of control.. Prices there are very high and supplies are thin in the domestic market. Bears keep pointing to increased supplies around the world and no demand this year from India as reasons to see futures move lower over time. Northern hemisphere crops are coming soon and will help offset the smaller production in Brazil. Chart trends turned down with the price action last week.
Overnight News: Mostly dry conditions are expected in Brazil. Temperatures should be near to above normal. The ISO now estimates surplus world Sugar production at 4.2 million tons, from 3.0 million in May.
Chart Trends: Trends in New York are mixed. Support is at 2930, 2910, and 2890 October, and resistance is at 3000, 3025, and 3040 October. Trends in London are mixed to down with objectives of 742.00 and 703.00 October. Support is at 758.00, 748.00, and 744.00 October, and resistance is at 766.00, 788.00, and 797.00 October.

COCOA
General Comments: Futures were lower in New York and in London. Ideas of good supplies from Western Africa keep the selling pressure around, but the region is now between harvests so offers are less. Trends are trying to turn up on the charts. For now there is still no real reason to buy except for a temporary shortage as farmers in many countries wait for prices to rally. Next year could be different as many analysts say that crop production potential in western Africa has been hurt by some poor weather seen in the last month. However, current supplies are ample and should help cover any short production potential for next year. Weather is called good for production in West Africa now.
Overnight News: Scattered showers and storms are expected in West Africa. Temperatures will average near normal. ICE stocks are higher today and are now about 3.893 million bags. ICE said that Cocoa deliveries are 0 contracts today and now total 2 contracts for the month.
Chart Trends: Trends in New York are mixed. Support is at 3050, 3010, and 2950 December, with resistance at 3100, 3150, and 3180 December. Trends in London are mixed. Support is at 1935, 1920, and 1890 December, with resistance at 1960, 1975, and 1990 December.

Questions? Ask Jack Scoville today at 312-264-4322

Free – subscribe to receive Daily Newsletters via Email (Also in Spanish)