World food price in August the lowest since February 2021

FAO’s Food Price Index (FPI) fell 2.1 percent in August to 116.7 (adjusted for inflation), down 13.3 percent YOY and its lowest level since February 2021.  Among the component indexes, only the sugar index rose in August, up 1.3 percent from July.  The cereal [...]

Cocoa spec position swells to ten-year high

With only two weeks before the end of the 2022/23 crop year, speculative funds specializing in commodities continue to add to long positions in cocoa. CFTC’s latest Commitment of Traders report showed that funds added 3,500 longs (futures only) to bring their net length [...]

FCOJ prices still pushing higher; FL maturity results

OJ prices reportedly pulled even higher in recent weeks on reports of tightening supply both in Florida and for key origin Brazil. The benchmark Nov-23 contract settled Tuesday, Sep. 12 at a fresh contract high of 331.50 cents per ps, up 13 percent YOY [...]

Quiet end to 2022/23 corn exports

The last week of the 2022/23 marketing year included a net reduction in corn sales of 1.0 million bushels and shipments of just 20 million bushels, half of which were headed to Mexico.  As of Aug. 31, about 44 million bushels remained in outstanding [...]

World sugar futures consolidating off recent highs?

After contract high on Sep. 5 and again Sep. 7, Oct-23 #11 world raw sugar tried to break resistance near 26.68 cents Sep. 8 and the upper Bollinger Band but instead fell to a close at 26.31, still within its recent elevated range. Mar-24 [...]

Ghana may increase the farmgate cocoa price by over 60%

At the end of trading Sep. 8, the Dec-23 NY cocoa contract closed at $3,654 per MT, $42 above Sep 7’s close and $40 above its session open. RSI is bearish at 67.4 percent, MACD moved from bearish to neutral, and the stochastic slightly [...]

Corn slowly falls in early September

Sep-23 futures traded narrowly during the week of Sep. 4. The contract began the short week with a modest 6.2-cent gain on Tuesday, Sep. 5, to build on the turnaround that appeared on Friday, Sep. 1. On Sep. 6, nearby futures managed to close [...]

World sugar higher, buoyed by crude oil rally

Oct-23 #11 world raw sugar moved to a higher range the week of Aug. 28, breaking retracement resistance near 25.00 cents and the upper Bollinger Band Aug. 28, correcting lower midweek, and rebounding Sep. 1 to close at 25.81, a ten-week high. Mar-24 #11 also [...]

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