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 [...]

La Niña arrives

The Australian Bureau of Meteorology has officially declared the start of an ENSO event with sea surface temperatures (SST) across the tropical Pacific colder than normal (-0.8 °C) and consistent trade winds. The current La Niña is expected to be moderate in strength through [...]

Latest sea surface temperatures may hold clues for upcoming cocoa season

The latest NOAA satellite data is yielding some interesting observations for weather across West Africa in both the short and long term. Specifically, we have seen a significant cooling in the equatorial Pacific region consistent with potential development of La Niña later this year. [...]

Latest ENSO forecast predicts neutral conditions through spring

NOAA released its latest prediction on the El Niño Southern Oscillation (ENSO) on Feb. 13. The synopsis: A 60 percent chance of ENSO-neutral conditions for the Northern Hemisphere this spring, with a 50 percent chance that these will continue through the summer. This latest [...]

Benchmark NY cocoa sets contract low

Mar-18 ICE settled lower this Friday, surprisingly hitting a fresh contract low after breaking support between $1,860 and $1,865. With conditions favorable for West Africa’s crop, fundamentals were in the driver’s seat, with profit-selling also in play. Ivory Coast arrivals are still running behind [...]