Natural gas inventories pull even with benchmarks

For the first time this year, natural gas storage underground reached 2021 levels and seems set to catch up with the five-year average. Atypically warm weather across much of the eastern U.S. during October and the first half of November allowed a greater build [...]

Soybean oil pushes higher with crude oil

Futures activity Nov-22 soybean futures closed higher Friday, up $0.25 at $14.52 per bushel. Dec-22 soybean meal rallied on Friday, Oct. 28 but was still down for the week, closing at $420.40 per ST. The likewise soybean oil contract ended last week up nearly [...]

Benchmark NY cocoa falls to nine-session low

After rallying over recent weeks, most-active Dec-22 NY failed to break retracement and psychological support near $2,400 last week. The contract tested that level at the start of this week but fell in the first three sessions, closing Wednesday at a nine-session low of [...]

2022/23 cocoa harvest begins with sharp hikes in farmgate prices

The main-crop season started on Oct. 1 with an increase to the farmgate price for Ivory Coast farmers. The price was raised from 825 CFA to 900 CFA francs per kg (about $1.36 per kg) in a bid boost incomes and improve the livelihoods [...]

Corn export sales see slow start to season

U.S. trade partners appear to be holding off buying 2022/23 corn: Sales were a mere 182,339 MT during the week of Sep. 15 (7.2 million bushels), well below average for the week. Outstanding sales to Japan were 854,000 MT as of Sep. 15, compared [...]

Hurricane Ian may be Category-3 when it reaches U.S. Gulf Coast

Hurricane Ian is forecast to be the first named storm to make U.S. landfall this season. Meteorologists believe that Ian could be a Category-3 hurricane by the time it reaches Florida’s Gulf coast. Besides rain and sustained high winds, Ian could bring a storm [...]

When heat becomes a weapon of mass destruction

To say that energy markets have become more politicized in recent months would be an understatement. In a recent meeting, the G7 (Canada, France, Germany, Italy, Japan, UK, and the U.S.) proposed a cap on the price of Russian oil in response to that [...]

ICCO raises projected cocoa deficit for 2021/22

With one month remaining in the season, ICCO officials raised their 2021/22 deficit estimate to 230,000 MT this last week. Per Reuters, officials cited solid growth in demand in the current season as the principal driver of the shortfall, with Asian and European grind [...]

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