Brent crude oil futures surged this past week, topping $81 per barrel, a level not seen since 2014, making a contract and yearly high after the most recent OPEC+ meeting. The OPEC+ Joint Technical Committee (JTC) met ahead of the regular member meeting to [...]
Futures activity Dec-21 corn futures dropped by roughly $0.10 over last week to close at $5.3050 per bushel. Since the last week of September, futures have traded in a narrow range. S&D and fundamental factors Global ending stocks are projected to rise by about [...]
Led by cereals, vegetable oils, and dairy, all FAO food price subindexes were up in September. Though gains were modest, the aggregate Food Price Index (FPI) still rose over 1 percent from August. (All values are adjusted for inflation.) The FPI showed monthly gains [...]
At the start of October, early-season corn planting in Brazil was about a third complete, slightly above the five-year average. Brazil’s soybean crop was some 4 percent planted, a couple of points above the average. Light to moderate rains and warm to hot temperatures [...]
Cocoa regulators in both Ghana and Ivory Coast have been warning for months of smaller 2021/22 crops as trees “rest” from bumper crops of the last two seasons—a phenomenon known as tree fatigue. A dry spring and harmattan season most likely pressured pod set [...]
Historically a major sugar supplier, Thailand saw its exports climb above 10 MMT in 2018 and 2019 thanks to back-to-back crops above 14 MMT. Drought lowered its 2019/20 crop to a ten-year low of under 8.3 MMT, however, halving its exports that season. With [...]
As of Sep. 26, U.S. corn was rated 59 percent good to excellent and 15 percent poor to very poor, unchanged from the week prior. Corn maturity was nearly three-fourths complete nationwide and was about 10 points above the five-year average. Harvest was 18 [...]
Futures activity Dec-21 corn futures closed last week a bit higher at just under $5.27 per bushel. Futures are inverted for the second half of 2022, with the July contract less than a cent lower than that of May and September futures about $0.26 [...]
