Soybean & soybean oil futures move in opposite directions

Futures activity Soybean oil futures rose steadily all last week, supported by rising palm oil prices. Dec-21 bean oil futures rose from 58.85 cents per bushel to 61.40 cents per bushel, nearing a two-month high if futures climb to 62.3 cents per pound this [...]

Cocoa grind for top regions rebounds from three-year low in 2019/20

Cocoa grind for the last quarter of 2020/21 was reported for the major use regions of Europe, Asia, and North America. Combined grind for the three regions reached 2.781 MMT of cocoa beans. This volume was up 3.8 percent from 2019/20 grind of 2.679 [...]

No late-season surprise in soybean oil exports

The 2020/21 soybean oil export marketing year closed very quietly—Q4 saw the slowest export pace since 2001—for both shipments and sales. U.S. soybean oil exports during 2020/21 totaled 1.49 billion pounds per FAS weekly shipment data, 13 percent lower than USDA’s estimate of 1.715 [...]

Crude oil pricing rises as OPEC+ limits production growth

Brent crude oil futures surged this past week, topping $81 per barrel, a level not seen since 2014, making a contract and yearly high after the most recent OPEC+ meeting. The OPEC+ Joint Technical Committee (JTC) met ahead of the regular member meeting to [...]

WASDE: Higher carry-in & bigger crop pad 2021/22 corn stocks

In the October WASDE, 2021/22 U.S. corn beginning stocks are estimated at 1.236 billion bushels, up 49 million bushels from September. Estimated 2021/22 corn yield is 176.5 bushels per acre (bpa), up 0.2 bpa from the previous estimate and above industry expectations. With improved [...]

Corn futures edge lower ahead of WASDE

Futures activity Dec-21 corn futures dropped by roughly $0.10 over last week to close at $5.3050 per bushel. Since the last week of September, futures have traded in a narrow range. S&D and fundamental factors Global ending stocks are projected to rise by about [...]

September FAO food price indexes up across the board

Led by cereals, vegetable oils, and dairy, all FAO food price subindexes were up in September. Though gains were modest, the aggregate Food Price Index (FPI) still rose over 1 percent from August. (All values are adjusted for inflation.) The FPI showed monthly gains [...]

South American corn & soybean planting begins

At the start of October, early-season corn planting in Brazil was about a third complete, slightly above the five-year average. Brazil’s soybean crop was some 4 percent planted, a couple of points above the average. Light to moderate rains and warm to hot temperatures [...]

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