Cocoa prices fall ahead of Ivory Coast presidential election

Tensions are mounting a few days before the Ivory Coast presidential election. Despite the term limits outlined in the country’s new constitution, current incumbent President Ouattara is running for a third term despite protests and a campaign to boycott the election. The UN is [...]

Food Price Index rises for second month

Adjusted for inflation, the September FAO Food Price Index was reported up 2 percent from August and up under 6 percent YOY. This is the fourth straight month of monthly gains but only the second straight month of YOY gains. Month on month, most [...]

Underwhelming Ukrainian corn harvest may impact exports

As of Oct. 22, Ukraine’s 2020/21 corn acreage was 52 percent harvested, yielding some 4.7 MT per hectare (107.7 bushels per acre), the lowest yield in eight seasons. That equates to around 13.1 MMT of corn collected so far, prompting Ukraine’s grain trader union, [...]

USDA October dairy reports shows September milk production up 2.4%

National herd recovery continued in September with milking cows up 6,000 head over August and up 46,000 year on year for the 24-state average. Milk yield was good, registering 36 lbs above September 2019, and total milk production increased 2.4 percent above prior year’s [...]

Corn rises again

Nothing seems to be stopping speculative interest in corn (and other ag commodities). Dec-21 corn futures continued to climb higher last week, testing contract highs near $4.20 per bushel, a value last reached in July 2019. The current net long position in ag commodities [...]

Soybean oil export sales pick up

The strong end to the 2019/20 soybean oil exports marketing year may have left the market a little tuckered out—or, perhaps, sufficiently supplied—and we’ve seen less shipping activity so far in 2020/21 compared to the last couple seasons. With this year barely started, however, [...]

South American planting eases forward

In the week ending Oct. 16, early-corn planting in Argentina rose to about 47 percent planted, up 5 points week on week but 15 points below the five-year average. Brazil's early-corn planting rose to over 47 percent, up 8 points week on week but [...]

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