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J Ganes Consulting Softs In-Depth Report Feb-Mar 2018

Hi,

Attached is the Softs In-Depth Report.  It includes a state by state breakdown of my views for cotton plantings with the USDA Prospective Plantings Report to be released Thursday.  I think plantings will be better than what the National Cotton Council indicated last month due to the higher prices and forecasts for dry weather.  

 

Also please note in the Cocoa Supply and Demand balance I show the ICCO forecast but below my own views, which have actually not changed by much. I still show a deficit, but a slightly smaller one with trimming of my grind outlook for next season.

 

I continue to believe the sugar market is having too much faith in the weather for 2018-19 and not recognizing how much of the Brazil crop will go to ethanol.

 

Finally, in OJ, I penciled in some early views for Florida and addressed concerns about a full crop recovery.  Demand is still the biggest problem though.

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J. Ganes Consulting
J. Ganes Consulting

 J Ganes Consulting is a leading provider of fundamental research geared towards the food, beverage, and textile industries.  With a deep understanding of the relevant statistics, J Ganes Consulting expertly synthesizes the data and is able to provide keen insight to readers, framing the information within a historical context that draws from more than three decades of specialized focused in Soft Commodities (sugar, coffee, cocoa, cotton and orange juice).   The reports offer a crisp perspective of the most pertinent supply and demand factors that are influencing the market decisions today and for the future.   Prior to forming, J Ganes Consulting,  Judith Ganes, the founder and President, spent her entire career on Wall Street, working for major investment houses, specializing in commodity research and advisory services for the firms commercial, fund, and speculative accounts. Aside from subscription based research services,  J Ganes Consulting also offers risk management seminars to train individuals and corporations to design trading strategies that meet their risk/reward requirements by enabling them to build appropriate positions in futures and options. Judith Ganes currently serves on the Advisory Board of CocoaCompassion and Feneciatrading, with both companies focusing on enhancing the livelihood of (cocoa and coffee) farmers through sustainable production.

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