Crude oil over $120 per barrel as China slowly reopens

Saudi state-run oil company Aramco raised prices to both European and Asian customers this month and signaled that prices could rise further as China slowly relaxes strict COVID lockdowns and reopens its economy, raising its oil demand. New-contract Arab light crude oil prices were [...]

Modest changes for corn in June WASDE

Friday’s WASDE was reasonably quiet on the corn front, with only a modest change made to export demand on the 2021/22 domestic balance sheet. With the 50 million bushel reduction in exports and a 5 million bushel increase to food/seed/industrial use, 2021/22 ending stocks [...]

Ethanol & corn production unchanged in June WASDE

In its June WASDE report, USDA raised its previous estimate for 2022/23 world corn ending stocks by 5.32 MMT to 310.5 MMT, about 400,000 MT below the current season’s volume. World corn production was increased by 5.1 MMT to 1.186 billion MT, up 30.1 [...]

FAO Food Price Index down in May for second straight month

FAO’s Food Price Index (FPI) was reported down over half a percent in May, adjusted for inflation, the second straight monthly decline. May’s FPI was still up 20.8 percent YOY, supported by significant gains across all subindexes. Food commodities showing the most significant YOY [...]

Barge transport costs ease, but truck rates remain dizzying

USDA’s recent transportation cost index update shows barge freight rates for grain are down by almost 50 percent from sky-high values seen in March, while grain trucking costs are still close to May’s record level. Rail costs are also around the May average and [...]

ICCO now projects 2021/22 cocoa deficit of 174,000 MT

The latest estimate from International Cocoa Organization (ICCO) showed a 174,000 MT deficit in the 2021/22 season, little changed from their previous forecast of a 181,000 MT shortfall, partly the result of a weaker grind forecast, which may be reflected in Q2 grind numbers [...]

Soy complex holds firm amid optimism in Ukraine

Futures activity The soy complex, in particular soybean oil, took strength off rallying crude oil prices last week, with spot soybean oil futures settling over 81 cents per pound yesterday and today, a 2.3-cent per pound rally on the week. S&D and fundamental factors [...]

Trending products: Plant-based beverages

Growing consumer awareness and demand for plant-based products have prompted beverage makers to jump into the trend. According to Fior Markets, the plant-based beverage market is set to jump from $14.46 billion in 2019 to $24.30 billion by 2027, and North America currently dominates [...]

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