INDIA TO ALLOW DIVERSION OF UP TO 1.7 MILLION TONS OF SUGAR FOR ETHANOL
On Friday, the government opted to permit the diversion of cane juice and B-heavy molasses for ethanol production, capping it at 1.7 million metric tons for the 2023/24 marketing year started on Oct. 1. “A quota will soon be allocated for sugar mills and distilleries,” said a senior government official, who preferred not to be named. The government move will assist the industry, which has invested billions of dollars over the last five years to boost ethanol production capacity. Uneven rainfall in the primary sugar cane-growing states of Maharashtra and Karnataka has sparked concerns about this year’s output. Anticipated production decreases have driven local sugar prices to their highest levels in nearly 14 years.
(Link: Reuters)
CHINA PUSHES WHEAT EXPORT SALES TO MARKETING YEAR HIGH
The USDA says U.S. wheat export sales hit a marketing year high during the week ending December 7th, driven by demand from China. Wheat came out at 1,490,500 tons (54.8 million bushels), up significantly from the week ending November 30th. China purchased 1,120,000 tons and the Philippines bought 124,100 tons. At the halfway point in the 2023/24 marketing year, wheat exports are 534 million bushels, compared to 518.5 million in 2022/23. Corn was reported at 1,418,600 tons (55.8 million bushels), 10% higher than the previous week. Mexico picked up 669,800 tons and unknown destinations purchased 386,400 tons. Early in the second quarter, corn exports were 1.07 billion bushels, compared to 787.5 million this time last year. Sorghum exports are 144.3 million bushels, compared to 14.2 million a year ago. Sales of 60,000 tons (2.4 million bushels) for 2024/25 delivery were to China.
Rice sales were 121,100 tons, 6% under the prior week. Rice exports are 1,700,500 tons. Soybeans were pegged at 1,084,000 tons (39.8 million bushels), a decrease of 23% on the week. China picked up 718,300 tons and Germany purchased 113,200 tons. Soybean exports are 1.226 billion bushels, compared to 1.531 billion a year ago. Soybean meal came out at 325,800 tons, quite a bit larger than the previous week. Late in the first quarter of the marketing year, soybean meal exports were 6,650,300 tons, compared to 5,544,900 last year. Soybean oil was reported at 300 tons. Cumulative soybean oil exports are 28,300 tons.
(Link: Brownfield Ag News)
