U.S. certified cocoa bean stocks pick up, remain above year-ago levels

At the end of March, cocoa beans in U.S. certified storage were reported at 4.69 million bags, up nominally from levels in recent months but some 11 percent above year-ago levels. Typically, cocoa in storage would rise in the first half of the year [...]

USDA March milk production report finally shows increase in herd

After eight months of contraction, the national herd finally showed signs of life and an increase of 3,000 head at the end of February. Hopefully this marks the end of the period of culling as farmers are gearing up for spring flush and improvements [...]

Soybean market eyes acreage report next week

Futures activity May-22 futures rose last week from $16.68 per bushel back above $17 dollars to $17.09 per bushel, reaching new contract highs. S&D and fundamental factors Informa expects U.S. soybean acres at 88.6 million acres, at or just above current market expectations ahead [...]

India’s sugar market: Balancing food use & fuel ethanol mandate

Through mid-March, India’s 2021/22 sugar production totaled 28.326 MMT, up about 9 percent YOY thanks to favorable pre-monsoon and monsoon rains last year. ISMA estimates 2021/22 sugar production near 33.3 MMT, above our most recent estimate near 31.3 MMT. More favorable rains are forecast [...]

China continues to place orders for U.S. soybeans

U.S. soybean exports were a bit above the seasonal average last week, although nothing shocking. Sales remained strong, with China adding a net 395,540 MT (well above average for this time of year) and sales to unknown destinations (often China) rising by a net [...]

Cocoa farmers welcome rain ahead of midcrops

Precipitation has returned across cocoa-growing regions of West Africa, marking the end of the harmattan season and several months of dry conditions. Throughout most of Q1, cumulative rainfall has trailed both last season and the mean recorded rainfall. Cocoa trees were stressed, and excessive [...]

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