Softs Report - Tuesday, April 20

Total exports rose to 572,839 60-kilogram bags, compared with 480,961 bags during the same month the previous year, as farmers released more stock to the market, defying supply-chain disruptions blamed on the effects of the coronavirus pandemic.
March, the sixth month of the 2020-21 season, brought cumulative coffee exports since the start of the season to 2.9 million bags, up from 2.5 million bags of coffee exported in the same period last season.

“Increasing robusta exports during the month was on account of fruition of the newly planted coffee as well as favorable weather,” UCDA said in a statement. “This was also due to a positive trend in global coffee prices which influenced exporters to offload more coffee.”
Uganda, which exports mainly the bitter-tasting robusta coffee variety used in instant drinks and blends, expects exports to reach 7.5 million bags this season, from 7 million bags last season, as more coffee trees planted under the ongoing coffee-growing campaign enter the production phase.


General Comments: New York and London closed lower in correction trading. Ideas of stronger Ethanol demand helped support Sugar prices last week as the competition is back for crushing and refining use. Current Sugar demand is called average. Dry conditions were reported in Brazil. It is raining in south-central Brazil and the production of cane is looking good for the next harvest. The region has been dry overall so the rains that have fallen have been very timely. Production has been hurt due to dry weather earlier in the year. Traders are worried about a delayed Brazil harvest and lack of space at Brazil ports for Sugar shipments due to the high Soybeans shipments and delayed nature of the harvest of the Soybeans. India is exporting Sugar and is reported to have a big cane crop this year. Thailand is expecting improved production after drought-induced yield losses last year. Exports are expected by USDA to be higher in the coming year.

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