Food prices fell further in late 2018

FAO reports that its calendar 2018 food price index fell 3.5 percent from 2017. While the cereals index did rise 9.0 percent, it was the only component to make gains. Meat fell 2.2 percent; dairy, 2.6 percent; oils, 14.7 percent; and sugar, 21.9 percent. [...]

October biodiesel production near record

The U.S. produced 170 million gallons of biodiesel in October, up 4 percent from September and 1 million gallons shy of tying August’s record volume. Monthly production was up 15 percent from October 2017. Processors used 699 million pounds of soybean oil, up 21 [...]

Canada on track to record canola crush

Canadian canola processors crushed over 820,500 metric tons of the oilseed in November, up 18 percent from October’s volume and up 2 percent from November 2017. Although crush and oil and meal production have slowed down since summertime’s blowout pace, and Sep-Oct processing volumes [...]

Palm oil prices up despite plentiful supply

A global glut of palm oil should be hindering price appreciation, but that hasn’t been the case recently. Prices are up considerably, but if bearish fundamentals prevail, the rise may be short-lived. Malaysian palm oil stocks were at a record 3.007 MMT at the [...]

USDA decides no mandatory GMO labeling for beet sugar, HFCS

The long-awaited USDA regulations for the National Bioengineered Food Disclosure Standard (NBFDS) have been released. USDA presented its decision as founded on extensive scientific research and precedents established by FDA. Perhaps the most notable part of the rule is that refined ingredients with undetectable [...]

Will China target Canadian exports over executive’s arrest?

The Canadian government’s arrest of Huawei CFO Meng Wanzhou at the request of U.S. authorities prompted outrage in China—along with seemingly retaliatory arrests of several Canadian citizens. There have also been calls on social media to boycott all Canadian brands. The tension could conceivably [...]

Food price indexes still trending lower

In the first half of 2018, the food price index saw monthly YOY averaging -0.3 percent. The decline in food prices has accelerated since, and the monthly YOY decline now averages -2.8 percent from January through October. The reduction has accelerated: down 1.5 percent [...]