Through August, CNDSCA estimated Mexico’s sugar exports at 1.018 MMT, down 36 percent YOY. IMMEX sales were reported near 337,000 MT, down 24 percent YOY. Per trade sources, Mexico has been importing—at a hefty tariff price—sugar from world origins like Brazil and even from [...]
Soybean crush decreased for the month of August with about 161.0 million bushels crushed in August 2023. In August, U.S. soybean crush fell to an 11-month low. NOPA processors crushed 11.8 million less bushels than in July and 4.1 million bushels less than in August 2022. [...]
Most-active Oct-23 #11 world raw sugar reached a contract high of 26.98 Sep. 14. On Sep. 15, the contract tried to push above 27.50 before falling to close at 26.91. RSI grew slightly less bearish, MACD remains neutral to bearish, and the stochastic is [...]
FAO’s Food Price Index (FPI) fell 2.1 percent in August to 116.7 (adjusted for inflation), down 13.3 percent YOY and its lowest level since February 2021. Among the component indexes, only the sugar index rose in August, up 1.3 percent from July. The cereal [...]
With only two weeks before the end of the 2022/23 crop year, speculative funds specializing in commodities continue to add to long positions in cocoa. CFTC’s latest Commitment of Traders report showed that funds added 3,500 longs (futures only) to bring their net length [...]
OJ prices reportedly pulled even higher in recent weeks on reports of tightening supply both in Florida and for key origin Brazil. The benchmark Nov-23 contract settled Tuesday, Sep. 12 at a fresh contract high of 331.50 cents per ps, up 13 percent YOY [...]
The last week of the 2022/23 marketing year included a net reduction in corn sales of 1.0 million bushels and shipments of just 20 million bushels, half of which were headed to Mexico. As of Aug. 31, about 44 million bushels remained in outstanding [...]
After contract high on Sep. 5 and again Sep. 7, Oct-23 #11 world raw sugar tried to break resistance near 26.68 cents Sep. 8 and the upper Bollinger Band but instead fell to a close at 26.31, still within its recent elevated range. Mar-24 [...]
