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 [...]
As everyone’s focus is on South America, the U.S. plains seem to be getting drier by the day, a phenomenon that could carry on into the spring. According to the U.S. Drought Monitor, 55 percent of the country is drier than normal compared to [...]
NOPA members reported crushing 163.5 million bushels last month, down slightly from October and up 2 percent year over year. Soybean oil yield was weaker than in October and last November, so oil production was down 1 percent month over month and up just [...]
Mexico might be unable to reach its sugar export quota to the U.S., warned Rabobank’s Pablo Sherwell. The country lacks the capacity to produce the raw sugar required, as most production is estandar, which has a polarity (pol) of 99.4 to 99.6. According to [...]
Ethanol production last week set a new record, averaging 1.108 million barrels per day, up 4 percent from the previous week and up 8 percent from a year ago. Use dropped to 885,000 barrels per day, down 4 percent week over week but still [...]
As part of a new revenue bill, South Africa’s National Council of Provinces approved a levy of 2.1 cents per gram of sugar, nearly 4 1/2 cents per ounce, in U.S. dollars. The tax will go into effect on April 2018. The bill has [...]
Yesterday’s WASDE report was extremely bearish for corn, with USDA increasing yield by 3.6 bushels per acre (bpa). This number beat the highest of analyst expectations by 1.4 bpa, a good indicator of how big the surprise was. The market’s reaction seems too mild [...]
All U.S. sugar deliveries for human use rose 2.6 percent in 2016/17, showing brisker gains than the 1.6 percent and 1.3 percent year-on-year (YOY) growth seen in 2015/16 and 2016/17, respectively. Most major industry categories used more sugar in 2016/17. There were a few [...]
