Dec-23 corn futures continued to move higher last week to $6.28 per bushel (a five-month high) as of close Jun. 21 before falling back to $5.88 per bushel as of close Jun. 23. Spot Jul-23 futures closed at $6.30 per bushel Jun. 23 but [...]
After trading mostly sideways in the month of May and reaching a contract high of 26.66 cents, benchmark Jul-23 #11 world raw sugar broke below its 20-day moving average the week of May 15. The contract fell through support from 25.10 to 24.90 on [...]
Jul-23 NY cocoa found support midweek from above $3,010 to $3,000 but broke lower to settle May 26 at $2,991. Sep-23 NY cocoa broke support near $3,105 May 26, closing at $3,006. For both contracts, RSI and MACD remain neutral, while the stochastic is [...]
The peak cycle of milk production normally spans the first half of the year. It advances in the first quarter, peaks in April, and then starts to trend progressively lower in the second quarter. This year was no different and the yield curve followed [...]
Jul-23 FCOJ rallied over the week of May 22, breaking the prior high of 279.85 cents and settling May 24 at a fresh high of 293.90, up 32 percent MOM and up 74 percent YOY. After two closes above the upper Bollinger Band, the [...]
CNDSCA reported Mexico 2022/23 sugar output through May 13 at 5.10 MMT, down nearly 13 percent YOY, matching the YOY drop that USDA expects for the entire season. USDA forecasts 2023/24 production rebounding nearly 10 percent YOY—assuming no challenging weather from now until the [...]
U.S. soybean exports for the week of May 11 declined by 54 percent from the previous week, putting accumulated shipments at 47.7 MMT (1.8 billion bushels). Weekly net export sales declined to 16,950 MT. Outstanding sales were down to 3.1 MMT (114 million bushels). [...]
Jul-23 NY cocoa rebounded by $77 May 19—the largest one-day gain in this contract’s history—to reach a fresh high of $3,068, breaking prior resistance around $3,025 and $3,050 and the upper Bollinger Band near $3,056. RSI is neutral still at 60.8 percent; MACD and [...]
