Corn futures dipped 6% last week

Futures activity Along with nearly all other commodity markets, corn futures experienced a sharp sell-off last week as pandemic concerns stoked fear and prompted contract liquidations. Dec-21 futures ended the week down $0.3175 per bushel from last Monday’s settle to close at $5.37 per [...]

India official 2020/21 sugar output forecast cut 800,000 MT

India’s government now forecasts 2020/21 sugar manufacturing at 30.2 MMT, down 800,000 MT from the previous forecast. Per The Financial Express, production is seen below expectations in the key cane states Uttar Pradesh, with unseasonal rains contributing to a drop in production of some [...]

India 2020/21 sugar production up 23% from last season

Through mid-February, Indian sugar production reached 20.89 MMT, up 23 percent from production of 17.00 MMT a year ago. Among the producer states, production is up strongly in Maharashtra, down marginally in Uttar Pradesh, and up by nearly a third in Karnataka. ISMA currently [...]

Biodiesel production consuming near-record soybean oil volumes

Biodiesel production in July increased 7 percent from June and, at 162 million gallons, was up 2 percent from a year ago, as diesel fuel demand from the shipping sector supported biodiesel demand. Sales of B100 for blending totaled 98 million gallons, the highest [...]

Corn eases on harvest pressure, COVID-19 concerns

The corn rally may have peaked on Sep. 18 after going six consecutive weeks of higher week-over-week closes. Fears over coronavirus resurgence in Europe, surpassing 200,000 deaths here in the U.S., and increased cases in the Midwest caused a sharp drop in the equities [...]

WASDE: Lower yields to reduce corn, soybean stocks

Today’s reported yield reductions were in line with what the market anticipated. However, USDA’s 2020/21 corn ending stocks forecast was about 40 million bushels above industry expectations ahead of WASDE, while its 2020/21 soybean ending stocks forecast was around 9 million bushels below expectations. [...]

One week after WASDE, a few notes on corn

Some bullish notes for corn include USDA estimating 2020/21 prevented planting at just under 5.4 million acres, which may mean lower harvested acreage in the September WASDE. The recent derecho storm is another bullish factor that may also pressure harvested acreage and yields in [...]

Load More Posts