Cocoa midcrop concerns, election uncertainty catch spec interest

Cocoa prices have surged $450 per MT, up 20 percent from the start of this year. Although cocoa bean arrivals to date are running close to last year’s record crop, hot and dry conditions have sparked concerns for the potential of the coming midcrop. [...]

Latest ENSO forecast predicts neutral conditions through spring

NOAA released its latest prediction on the El Niño Southern Oscillation (ENSO) on Feb. 13. The synopsis: A 60 percent chance of ENSO-neutral conditions for the Northern Hemisphere this spring, with a 50 percent chance that these will continue through the summer. This latest [...]

Will 2020/21 bring corn & soybean bumper crops?

Ahead of USDA’s Annual Outlook Conference, corn and soybean analysts estimated planted acreage, production, and ending stocks for the 2020/21 U.S. crops. The forecasts presented were bearish compared to 2019/20 figures. Beginning with corn, estimated planted acreage averaged 93.6 million acres, almost 4 million [...]

Sweethearts, back in time for our Valentines! (Sort of)

Valentine’s Day 2019 was a little less sweet without the widely familiar NECCO sweetheart candies. Now owned by Spangler, Sweethearts are back for Valentine’s Day 2020, but they may not be the exact same as they were before NECCO closed its doors in 2018. [...]

Oil prices slide as OPEC wrestles with production cuts

Oil prices have dropped by more than 20 percent since the start of this year and are retesting lows not seen since December 2018. Crude sunk to new contract lows in February, reaching beyond one-year lows on concerns of slower global economic growth, pressured [...]

Mexico sugar crop lags last season, domestic pricing up YOY

Reference pricing for sugar was largely flat last week. Estandar was down marginally from the four-week average, while refined was up just half a percent. The estandar reference price is up about 10 percent YOY, while refined is up nearly 11 percent YOY. Through [...]

WASDE: Corn exports lowered, soybean exports raised

USDA made limited yet anticipated changes to the 2019/20 supply and demand forecasts for corn and soybeans. U.S. corn exports were lowered 50 million bushels to 1.725 billion bushels. Despite unfavorable margins of late, ethanol and by-products demand was raised by 50 million bushels [...]