The corn market reversed course on Friday after a bullish WASDE Thursday, with futures trading lower by double-digits. Jul-21 corn futures—at least thus far—haven’t been able to push past recently established highs, arguably creating a scenario for short-term technical weakness. The July and December [...]
At the end of May, benchmark Sep-21 NY cocoa consolidated below its 20-day moving average but saw a four-day slide from last Wednesday to this Monday’s one-month low. After breaking support around $2,445 Monday and closing near its lower Bollinger Band, the contract rebounded [...]
In the June WASDE, USDA lowered its 2020/21 corn ending stocks to 1.107 billion bushels, down 150 million bushels from the May figure and well below industry expectations. The drop in stocks was caused by 2020/21 U.S. exports and ethanol demand each rising by [...]
As expected, U.S. soybean export sales and shipments have been very slow this spring, well below their seasonal averages. For the week of May 27, sales and shipments both notched new lows for the marketing year and saw their smallest volumes for the week [...]
After peaking in early March, global dairy prices ran into resistance, with sluggish performance over the past two and a half months. This past week’s Global Dairy Trade auction results yielded a modest decline of 0.9 percent, bringing the cumulative performance to a drop of [...]
Even with the U.S. soybean crop off to a great start, soybean oil futures soared last week, closing above 70 cents per pound on Wednesday, Jun. 2, and helping keep soybean futures elevated in the mid-$15 per bushel range. The soybean oil rally continued [...]
India’s October-May sugar production totaled 30.57 MMT, up 13 percent from production a year ago of 27.01 MMT. Per ISMA, about 7 mills were still crushing at the start of June, down from 18 mills a year ago. For top-state Uttar Pradesh, production totaled [...]
The average price of CBD isolate in the U.S remained steady throughout May and was up just 2 percent from lows seen in February 2021. In the U.S., documented acreage licensed for production is down 44 percent YOY as growers are opting to plant [...]
