Dairy cows swoon with July summer heat

USDA’s July milk production report showed a continued decline in the nation’s dairy herd as the 24-state dairy total fell by 9,000 head. With the spring flush now over and summer heat curbing milk output, farmers have fewer incentives to keep marginal producers within [...]

Cocoa market shrugs off disappointing Q2 grind numbers

Published grind numbers for Q2 show a marked slowdown in both cocoa bean processing and anticipated chocolate confectionery sales over the past three months. Malaysian numbers were announced first, down 7.2 percent compared to Q2 2019, followed by European results echoing the contraction, down [...]

Corn supported by Chinese purchasing & high temperatures

China has been active in purchasing corn from the U.S. On Friday, July 10, purchases were 1.3665 million metric tons (MMT), the second highest on record. Then last Tuesday, purchases of 1.762 MMT set a new record, eclipsing the previous record of 1.45 MMT back [...]

COVID-19 boosts Japan’s food retail sales

Supermarkets in Japan saw YOY sales increase by 20 to 30 percent in March and April. Demand has been especially strong for wheat flour and wheat cooking mixes, vanilla extracts, pastas and sauces, and sweet syrups, per Toyo Economic. A recent USDA GAIN report [...]

Corn acreage shocks the market

In what can only be described as a historical market shocker, the nation’s farmers last week indicated planted corn acres at merely 92 million, per USDA’s Acreage report. Although this reflects an increase of 3 percent over last year’s late-planted crop, it is down [...]

Sugar deliveries declined during spring

With delivery data for two months under COVID-19, March and April, USDA lowered 2019/20 sugar deliveries for food use by 75,000 STRV in the June WASDE. After huge April imports because of the quota increases, USDA is placing YTD deliveries for food use by [...]

April AJC imports near 46 million SSE gallons

The U.S. imported 45.8 million single-strength-equivalent gallons of apple juice during April, up 41 percent from March and up 12 percent from a year ago. Importers may have playing catchup after business with China declined sharply during China’s COVID shutdown: 65 percent of apple [...]

Crude oil suffers setback

As states slowly begin the process of reopening, fears of a secondary outbreak of COVID-19 coupled with rising domestic crude oil inventories halted an energy price advance and sent prices lower. Brent crude prices fell this week by 5 percent, and WTI (West Texas [...]

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