Brazilian cane harvest jumps YOY, while USDA WASDE forecast showed global corn strength

December 13, 2012 |

In the US and Brazil, the WASDE global crop reports and UNICA’s sugarcane forecasts were released. According to RFA’s Christina Martin, “Today’s WASDE report was a non-event as far as the U.S. corn balance sheet. The only change was a slight decrease in the 2012/13 season-average price estimate, from $7.60/bu. to $7.40/bu. However, there were some important revisions on the global side. Global coarse grains production was increased 7.9 million metric tons, as China reported a larger-than-expected corn crop (4% larger than the November estimate).  Canadian corn output was also revised higher. The estimated size of Brazil’s corn crop was unchanged, while Argentina saw a slight decrease. Overall, traders were looking for a minor decrease in global corn output and instead they got a 1.2% increase.”

On the cane side, The amount of sugarcane processed by mills in Brazil’s South-Central region totaled 26.47 million tons during the first two weeks of November, a drop of 26.78% compared to the second half of October and a 42.34% jump from the 18.59 million tons registered in first-half November 2011. During the first half of November, the amount of Total Recoverable Sugars (ATR in Portuguese) per ton of harvested sugarcane totaled 137.24 kg, down 2.28% from 140.45 kg in the same period last year. Brazilian ethanol sales by mills in the South-Central region totaled 938.32 million liters during the first half of November, representing a 9.80% increase from the 854.59 million liters reached in the same period last year.

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Category: International

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