Slight uptick for cocoa futures ending first week of May
Most-active Jul-23 NY cocoa trailed lower over the last week in April to a three-week low before rebounding May 4 and May 5 back above $2,9000 and the 20-day moving average to close the week [...]
Weather risk premium reenters soy complex
Spot soybean futures rose 30 cents last week. New-crop soybean futures continued to hover near two-year lows. Soybean oil prices rose about 1.5 cents per pound last week. Argentina’s low soybean crop projections are falling [...]
U.S. sorghum, barley, & oats supply to increase in the 2023/24
Feed grains range from corn, sorghum, oats, barley, and rye, to millet with corn influencing the global outlook of total feed grains. The four major feed grains in the U.S. remain corn, sorghum, barley, [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]