Weather continues to support bullish trend in Oceania dairy prices

Results from Mar. 5 GDT auction showed continued resilience for the bullish trajectory of prices out of New Zealand. Across dairy ingredients, prices were up on average 3.3 percent, with particular strength in fat-containing products. Two core export commodities of Fonterra, anhydrous milkfat and whole [...]

WASDE: USDA lowers corn use, raises soybean crush

Today’s WASDE report confirmed the market’s expectation for lower corn utilization for ethanol, which USDA lowered by 25 million bushels, to 5.550 billion bushels. USDA also lowered U.S. corn exports by 75 million bushels, a move that was less expected but not out of [...]

Updates on beverage & sugar taxes in Latin America & the Caribbean

Sweetened beverage sales in Jamaica, one study suggested, fell by more than 4 percent as a result of a 10 percent tax on sugar-sweetened beverages, with at least one researcher suggesting that the tax rate should be doubled. Citing rising obesity rates, the Jamaican [...]

768 million pounds of soybean oil went to biodiesel in December

In December, U.S. biodiesel producers surpassed August’s previous record soybean oil utilization by more than 60 million pounds and delivered a year-over-year increase of 29 percent. Biodiesel production totaled 168 million gallons, up 13.5 percent YOY and slightly higher than the average YOY increase [...]

Brazil center-south ethanol sales up as crush winds down ahead of the new campaign

For the 2018/19 April-March center-south cane campaign, crush through mid-February is up 3.6 percent YOY. With the sugar share at 35 percent for the season to date, cumulative sugar production reached 26.36 MMT, down 26.5 percent YOY. Cane ethanol production, meanwhile, is up 19.5 percent [...]

Record cocoa arrivals as Ivory Coast’s main crop winds down

With one month remaining in the main crop portion of the cocoa season, Ivory Coast is on trend at this point for its third consecutive harvest topping 2 MMT. Cumulative arrivals stand at 1.5 MMT, and cumulative Oct-Jan cocoa bean exports totaled 701,530 MT, [...]

Updates on sugar & beverage taxes in North America

In the U.S., Connecticut’s governor is backing a proposed sweetener beverage tax of 1.5 cents per ounce—part of a series of taxes on e-cigarettes and related supplies, some bottled alcoholic beverages, and even plastic bags. The governor’s office estimates revenue for the sweetened beverage [...]