Minor bounce for Mexico sugar pricing; early sugar output still lagging

Reference pricing for Mexico sugar strengthened modestly in week of Nov. 22. In recent weeks, estandar has appreciated more strongly, rebounding after its weaker showing from June through October. Refined is holding steady after a more modest decline from August through October. Following price [...]

Record Ukraine corn harvest nears completion

As of late-November, about 87 percent of Ukraine’s 2021/22 crop was harvested. Unofficial receipts were at roughly 35.0 MMT, so final production may reach or surpass USDA’s estimate of 38.0 MMT, a record. Ukraine’s ag ministry raised its 2021/22 production estimate to 40.0 MMT. [...]

Seasonal changes in cattle on feed & poultry layers

Cattle on feed numbers are increasing seasonally, with 11.90 million head reported as of Nov. 1, up 3 percent from Oct. 1, although down slightly year over year. The St. Louis feed index indicates that cattle feed pricing was largely unchanged in October but [...]

Thanksgiving arrives with first seasonal drawdown in natural gas

Daylight Savings, Thanksgiving, and the first snowflakes of the season are all harbingers of winter, and along with it, the first decline in nationwide natural gas stocks in the U.S. Energy Information Administration (EIA) natural gas storage report. An Arctic air mass descended from [...]

Potential bullish factors for the soy complex

While 2021/22 continues to look bullish for the soy complex, some early indications of the proverbial “light at the end of the tunnel” may be taking shape. Thus far, soybean oil yield appears to be on the higher side of the historical range, with [...]

Update on Mexico sugarcane campaign & sugar market

As of mid-November, through the second week of Mexico’s 2021/22 sugarcane campaign, six mills had begun crush. Save for cane tonnage, results to date are lagging CNDSCA forecasts; two mills began crush three and ten days late, respectively. Caution: Early crop figures are not [...]

Dairy herd & milk yield fall below year-ago levels

This week’s USDA milk production report provided more bullish fuel as the national herd fell by a further -14,000 head to 9.4 million cows across the country, and milk yield, the volume of milk per cow per day, also fell below Oct 2020 levels. [...]

Corn market sees little fresh data to drive direction

Futures activity Dec-21 futures ended last week lower by about $0.06, at $5.7075 per bushel. Although Dec-22 futures were also lower for the week, they closed Friday minimally higher at $5.5425 per bushel. S&D and fundamental factors The Rosario Exchange is projecting Argentine corn [...]

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