Two major news releases from USDA on Tuesday, Feb.23, prompted a counterintuitive market reaction as prices firmed toward the end of the week. The Cold Storage Report showed AA salted butter stocks at 328 million pounds through January 2021. To put that in perspective, [...]
Through mid-February, Indian sugar production reached 20.89 MMT, up 23 percent from production of 17.00 MMT a year ago. Among the producer states, production is up strongly in Maharashtra, down marginally in Uttar Pradesh, and up by nearly a third in Karnataka. ISMA currently [...]
As of Feb. 1, U.S. cattle on feed totaled just over 12.1 million head, the second highest February total since reporting began in 1996. Inventory was up 1 percent from January and up about 1 percent YOY, slightly above industry expectations. The high number [...]
The U.S. imported around 4.76 MMT of edible oils last year, down just 1% from 2019 imports, which were near 4.83 MMT. USDA expects imports to continue to drift lower this year, with the edible oils complex seeing about a 2 percent decline in [...]
Corn futures ended last week with different tones for old-crop vs. new-crop contracts. Dec-21 contracts were nearly flat, closing up slightly for the week at $4.6000 per bushel. This first look at the upcoming U.S. production season was close to market expectations, but projected [...]
Chocolate producers named as defendants in new child labor case Seven companies were named as defendants in federal class action lawsuit on behalf of plaintiffs who allege they were forced to work on cocoa farms across West Africa as children. The plaintiffs are eight [...]
During the week ending Feb. 12, Brazil’s soybean harvest advanced to 9 percent complete, up 5 points on the week but about 11 points below the five-year average. More rain is expected in northern Brazil before March, which would further delay harvest. However, less [...]
From April through January, Brazil’s center-south sugarcane crush totaled 597.6 MMT, up 3 percent YOY. Thanks to a sugar share of 46 percent, up from 34 percent a year ago, sugar production reached 38.20 MMT, up 44 percent YOY. With the ethanol share lower, [...]
