Announced minimum floor price whets speculator’s appetite for cocoa

News surrounding a higher minimum support price for cocoa in Ghana and Ivory Coast to lift grower income is adding fuel to the current speculatively led bull rally in cocoa. Last month in Accra, cocoa regulators from these countries met with industry participants to [...]

Wheat futures market inverts post-WASDE release

On Thursday, Jul. 11, Jul-19 wheat futures rose 4.8 percent to a six-week high of $5.36 following the June WASDE release. This price is higher than both the Sep-19 and Dec-19 futures contracts, at $5.21 and $5.32, respectively. Jul-19 contract prices rose in reaction [...]

WASDE: New crop corn acreage & production forecasts increased

USDA forecasts U.S. corn acreage to increase to 83.6 million, up 1.2 million acres from the June WASDE report and the same figure reported on the June 28 Acreage report. The corn crop yield remained at 166.0 bushels per acre, 10.4 bpa less than [...]

U.S. domestic sugar deliveries down 0.1 percent

Sugar deliveries for food use (including re-export products) from October through May totaled 7.036 million short tons, down 0.1 percent from the same period last year. May’s deliveries dipped below deliveries for the same month in the last three years. Cumulative deliveries are up [...]

Food Price Index finally ticks higher

FAO reported its Food Price Index appreciated by just 0.2 percent YOY in June, the first monthly YOY increase in 21 months. (Note: These figures are adjusted for inflation.) The increase comes courtesy of gains in three of the five subindexes: The Meat, Cereals, [...]