Cumulative U.S. domestic human use deliveries down 1.7%

From October through March, sugar deliveries for human use (and products re-export) totaled 4.57 million STRV, down 1.7 percent from the same period a year prior. Deliveries for the top two sectors were down YOY, bakery and cereal down 1.6 percent, and wholesale down [...]

WASDE brings another reduction in global wheat stocks

The April WASDE report released last week was pretty much as expected across many commodities, but global wheat ending stocks did surprise with another sizeable drop. Stocks fell 5.67 MMT from 301.19 MMT to 295.52 MMT. The trade expected stocks to hold near 301 [...]

2020/21 soybean stocks still pegged at 120 million bushels

Friday’s world crop supply and demand update brought an expected increase to 2020/21 U.S. soybean exports, which USDA offset by tinkering with other use numbers, leaving ending stocks unchanged from the February and March estimates. USDA attributed the 30 million bushel increase in exports, [...]

WASDE: Corn carryout drops, soybean carryout steady

In the April WASDE, USDA lowered its 2020/21 U.S. corn ending stocks forecast by 150 million bushels to 1.352 billion bushels. This change to carryout is due to both exports and domestic use each rising 75 million bushels. For 2020/21, exports are now forecast [...]

Early spring helps natural gas stocks with second week of inventory gains

As temperatures begin to climb with early arrival of spring weather, EIA’s reported natural gas inventories registered their second, albeit modest, increase in as many weeks. National storage showed a 20 bcf build with the largest increase in the central-south region, bringing total stocks [...]

World food prices up for tenth straight month

Adjusted for inflation, FAO’s Food Price Index rose over 2 percent from February and was up 25 percent YOY. This was the tenth straight month of gains for the price index. For 2021 through March, food prices are up 17 percent year on year [...]

Corn futures jump on acreage report then correct

Most-active May-21 corn futures rose to a contract high following the Mar. 31 acreage report but have since corrected by 10 cents. On Tuesday, Apr. 6, the contract settled at $5.5425, 13.25 cents above the Jul-21 contract’s close. RSI has been rangebound between 51.0 [...]

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