Valencia harvest at 3.2 million boxes per week

Florida orange growers harvested 3.2 million boxes of Valencia oranges during the week ending Mar. 22, about the same volume as the previous week. Weather has been warmer than average and dry. Processing pace appears to be about a week ahead of last season, [...]

Dollar consolidates after correcting off multiyear highs

In the second half of March, the U.S. dollar index spiked to its highest levels since late 2002. The index corrected lower in a six-session slide, finding support near its 20-day moving average. Despite some contrarian views, the dollar clearly remains the world’s preferred [...]

March net corn cost dipped below $2.00

The recent year-over-year growth in coproduct pricing supported the coproduct credit in March as the cost of corn fell to $3.85 per bushel (basis Decatur, IL). Futures during the March coproduct value reconciliation period averaged $3.65 per bushel, nearly unchanged from a year ago, [...]

Corn stocks reported below industry estimate

As of Mar. 1, 2020, U.S. corn stocks were just over 7.95 billion bushels, down roughly 8 percent YOY and below trade expectations. A stocks figure under the industry estimate may suggest that 2019/20 production was lower than reported. Soybean stocks were just over [...]

New life for unusual metric? The Waffle House Index

Waffle House restaurants have a reputation as a hardy breed: The average Waffle House is unfazed by bad weather that shutters other restaurants. Even after all but the worst disasters, Waffle Houses are usually open right after with little effect other than perhaps taking [...]

Natural gas: New highs & lows for the year

The COVID-19 pandemic and the accompanying price collapse across commodities comes as no surprise, and some longer-term implications can already be discerned with a little bit of digging. The rolling nearby contract for natural gas has fallen 25 percent on the NYMEX Apr-20 contract [...]

Brazil center-south sugarcane campaign nears end

Brazil’s 2019/20 center-south sugarcane crush campaign will end this month and the 2020/21 campaign will begin in April. For the current campaign, total crush bested last year’s pace at 582.9 MMT of cane through mid-March, up 3 percent YOY, per UNICA. With the sugar [...]