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World cotton output to drop to 23.9mn tonnes in 2015/16 NEW YORK: Global cotton production will fall to 23.9 million tonnes in the 2015/16 crop year, more than 450,000 tonnes lower than estimated 2014/15 output, industry analysts at Cotton Outlook (Cotlook) said in a report on Thursday.The drop was broadly expected as low prices push the world's farmers to other, more profitable crops, and will result in a 41,000-tonne drawdown in world stocks, the first annual decline since the 2009/10 crop year.The report forecast that consumption would grow to almost 24 million tonnes in the 2015/16 season, which begins Aug. 1, up 1.4 percent from the prior year.The projected production drop is driven by an expected decline in output in China, the world's top consumer of cotton, to 5.7 million tonnes from 6.4 million tonnes in the prior year, Cotlook said.Production in the United States, the world's leading exporter, is seen dropping to 3.1 million tonnes from 3.5 million tonnes ...

Soybeans set 5-week high as US predicts drop in plantings CHICAGO: US soybean futures jumped to a five-week high on Thursday after the Agriculture Department projected farmers will plant fewer acres than traders expected in response to falling prices.Corn futures also advanced, while wheat finished flat to lower.The U.S. Department of Agriculture, in data released at an annual Agricultural Outlook conference, projected 2015-16 soybean plantings at 83.5 million acres, down slightly from 83.7 million in 2014-15.Traders were widely expecting farmers to increase soybean plantings in ...
ICE cotton falls on technical selling after hitting 5-month high NEW YORK: ICE cotton hit a five-month high on Thursday but ended the day down for the first time in five sessions after hitting technical resistance and encountering little demand at higher prices.The most-active May cotton contract on ICE Futures U.S. fell 0.63 cent, or 1 percent, to settle at 64.69 cents a lb after rising as high as 65.75 cents, the highest for the second-month since Sept. 18, 2014.The second-month's 14-day relative strength index ...
Chicago wheat futures fall on US export concerns LONDON: Chicago wheat futures were lower on Thursday weighed down by concerns that U.S. supplies are seen as too expensive by major buyers such as top importer Egypt.U.S. corn futures were barely changed while soybeans edged higher, recouping some of the prior session's losses.Chicago Board of Trade March wheat futures were off 0.6 percent at $5.24-3/4 a bushel by 1115 GMT after falling by more than one percent on Wednesday.Egypt's Trade Ministry said on Thursday ...
Prices advance on outlook for decline in US plantings CHICAGO: US grain and soybean futures jumped on Thursday after the Agriculture Department projected farmers will plant fewer acres than some traders expected in response to falling prices.The US Department of Agriculture, in data released at an annual Agricultural Outlook conference, projected 2015-16 soybean plantings at 83.5 million acres, down slightly from 83.7 million in 2014-15. The government estimated US corn plantings at 89 million acres, down from 90.6 million in 2014-15.Traders had widely been ...
Wheat steady, early gains pared as US exports deemed too expensive SYDNEY: US wheat futures held steady on Thursday after dropping back from early gains as US supplies were seen as too expensive. Trading was light with many Asian markets closed.Corn rose for the third time in four sessions, while soybeans were little changed.Chicago Board of Trade March wheat futures were flat at $5.27-3/4 a bushel, after having edged slightly higher in early trading. Wheat had closed down 1.3 percent on Wednesday.Traders and analysts said prices ...
Wheat tumbles 2pc after Egypt cancels US tender CHICAGO: US wheat futures tumbled as much as 2 percent on Wednesday, heading for their biggest daily losses in two weeks after top global wheat importer Egypt cancelled a tender seeking supplies from the United States.Overbought technical conditions also pressured prices, with corn and soybeans each falling more than 1 percent at the Chicago Board of Trade."When you have an oversupply or a strong supply, the path of least resistance is lower," Jefferies Bache analyst ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 23, 2015
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