Harvest conditions for corn & soybeans in Mato Grosso may improve

During the week ending Feb. 12, Brazil’s soybean harvest advanced to 9 percent complete, up 5 points on the week but about 11 points below the five-year average. More rain is expected in northern Brazil before March, which would further delay harvest. However, less [...]

Groundhog Day signals first blast of arctic air & spike in natural gas prices

The famous prediction this past week called for six more weeks of winter as the most significant snowstorm in nearly five years made its way across the country, dumping several feet of snow in some regions. Multiple fast-moving systems making their way across the [...]

A wet start to South American soybean harvest

As of last week, soybean harvest in Brazil’s Mato Grosso was just over 2 percent complete, down about 12 points YOY and almost 10 points below the five-year average. Rain is expected in Mato Grosso in the near term but should not hinder decent [...]

Cocoa arrivals revised lower for Q4 2020

After carrying higher numbers season-to-date, Bloomberg may revise its Ivory Coast arrival figures lower, closer to Reuters estimates. Through December, cumulative arrivals figures are now reported at 1.124 MMT for Ivory Coast, the world’s largest producing country. This adjustment nearly wipes out the 8 [...]

Argentina in need of rain, Brazil okay for now

Most corn and soybean producing areas in Argentina are not expected to receive adequate rain during the next two weeks, which is unfavorable for planting and early crop development. The area stretching from San Luis, across Cordoba, and into southern Sante Fe may see [...]

Updates on cocoa arrivals & weather for Ivory Coast

We estimate October-November Ivorian arrivals near 755,000 MT, up nearly 8% YOY. Ghana purchases may be below 300,000 MT, down about 9% YOY. As a result, total output for the period from the two countries may be near 1.05 MMT, up around 2% YOY. [...]

NYMEX decline provides timely hedging opportunity

As winter descends across the country, lower temperatures typically support energy pricing. Natural gas markets corrected to 12-month lows on seasonally mild conditions last month, however. The outlook for 2021 is improving as we start to see the rollout of COVID-19 vaccinations across Europe [...]

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