South American corn exports strong heading into fall

Brazil and Argentina moved good volumes of corn in September, exporting a combined 10.2 MMT vs. 7.0 MT a year ago, thanks to the recovery in Brazil’s supply. Last month, Brazil shipped almost 6.8 MMT of corn, up 138 percent compared to September 2021 [...]

World Food Price Index down for sixth straight month

Adjusted for inflation, FAO’s Food Price Index (FPI) fell 1 percent in September, the sixth straight down month. Year on year, the September FPI was up nearly 4 percent—significant, but a vast change from growth in 2021. The 2021 FPI was up 26 percent [...]

Trapped in a commodity market funhouse?

Maybe the funhouse seemed like a harmless way to spend a warm afternoon at the corn carnival (we all call the corn market that, right?): You knew your market’s fundamentals, so how about a little thrill-seeking among gently distorted market factors? You knew logistics were [...]

Cocoa grinds slow in Q3, closing crop year on a soft note

Although some regions of the world continued to experience solid growth in grind numbers throughout the 2021/22 season, chinks in the armor were seen, with at least two main regions starting to show weakness. Calendar-year Q3 (July to September) marks the end of the [...]

Soy oil, meal futures decouple from soybeans

Futures activity Nov-22 soybean futures ended last week at $13.9550 per bushel, up about $0.10 per bushel from the beginning of the week. After a Thursday rally, Dec-22 soybean meal closed the week at $417.90 per short ton. Dec-22 soybean oil also ended the [...]

September soybean crush around recent average for month

Soybean crush declined seasonally in September, although the dip was somewhat greater than analysts expected. NOPA members crushed 158.1 million bushels of soybeans last month, up 3 percent from September 2021 and just above the average for the month we’ve seen since 2017/18 (when [...]

Mexico sugar stocks down 6% YOY

CNDSCA reports available stocks at the end of September at 0.96 MMT, down 6 percent YOY. Including certified stocks for export, all sugar carryout was down 8 percent YOY at 0.96 MMT—certified stocks are down nearly 87 percent YOY. In the October WASDE, USDA [...]

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