USDA debuts 2023/24 world oilseed forecasts

Global oilseed trade is forecast to increase 1 percent due to soybean import demand offsetting lower rapeseed and sunflower seed imports. Slowing economic growth in China and the EU, growing domestic oilseed production, and South America’s continuing expansion of soybean-planted farmland are likely to [...]

Nonfat dry milk stocks rise, butter holds

With the U.S. now at peak flush, dairy operations are in full swing as processing plants cope with the abundant milk supply across the country. With higher cow numbers in the national herd and YOY yield, there is approximately 1 percent more milk around [...]

FCOJ consolidating over first week in May

Most-active Jul-23 FCOJ traded sideways in the last six sessions, consolidating between the 20-day moving average near 267.71 cents and retracement support above 264.40, closing May 4 at 266.75. RSI is neutral. MACD grew more bearish, while the stochastic grew less bearish, approaching a [...]

Black sea agreement pressures grains

Jul-23 corn futures dropped significantly last week, settling Friday at the contract’s lowest value since October 2021. Futures settled below the lower Bollinger Band for the last three sessions. Last week’s decline partly reflected weak demand for U.S. corn in the global market. New-crop Dec-23 [...]

Cocoa futures markets turn bearish

Jul-23 NY cocoa moved lower from May 1 through May 3, breaking prior support around the 20-day moving average and retracement support to settle at $2,870. The Sep-23 contract closed at $2,881, testing the 20-day average May 3 but falling to hold above support [...]

Soybean exports to China increase

U.S. soybean exports for the week of Apr. 27 picked up by 24 percent from the previous week, putting accumulated shipments at 47.1 MMT (1.7 billion bushels). Weekly net export sales dropped to 289,730 MT. This year saw the lowest net export sales figures [...]

April net corn cost up 20% from March

Corn basis: Basis bids around Decatur, IL were considerably higher during the April reconciliation period, compared to March 2023 and April 2022. Corn gluten meal and feed: Corn gluten meal and feed prices continue to decline, both seasonally and year over year. April CG [...]

Tropical weather outlook for summer 2023

The reversal of La Niña is part of the ENSO (El Niño Southern Oscillation) weather phenomenon, which drives a shift in global weather patterns that can bring drought or atypically heavy rains depending on location. Colorado State University (CSU) meteorologists issued their preliminary forecast [...]

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