August net corn cost follows cash corn lower

Average cash corn pricing around Decatur, IL in July was down 66 cents from July and down $1.22 from August 2022.  During the reconciliation period, corn gluten meal averaged up 5.0 percent from July but down 16 percent year on year, while feed pricing averaged [...]

Sugar forecast cut significantly in September WASDE

The September WASDE forecasts are always insightful for new-crop sugar production as early beet harvest is underway at many of the cooperatives, and cane harvest is just a couple weeks away. This report did not disappoint with beet production increased 150,000 STRV to 5.223 [...]

September WASDE shows increase in corn acreage

Corn outlook The 2023/24 U.S. corn outlook is for greater production at 15.1 billion bushels due to an increase in harvested area offsetting a reduction in yield. Corn supplies and ending stocks are also up compared to last month’s projections, while use remains unchanged.  [...]

Consumer price index for foods up 7.1% YOY

The Consumer Price Index (CPI) for food rose 0.3 percent in July and was reported up 4.9 percent YOY, per ERS. Food away from home is reported up 7.1 percent YOY, with inflation for food at home half that at 3.6 percent. (Note that [...]

After hitting fresh highs, FCOJ futures take a break

Most-active Nov-23 FCOJ traded sideways midweek above retracement support near 306.00 cents, settling Aug. 24 at 308.05. RSI is neutral; the stochastic showed a nominal bearish crossover; MACD is neutral and looks set to follow the stochastic’s crossover.  After multiple tests of the upper Bollinger [...]

NY cocoa up after four-session rally

At the end of trading on Aug. 17, the Dec-23 NY cocoa contract closed at $3,488 per MT, $91 above Aug. 14’s close and $22 above its session open. RSI is neutral at 52.5 percent, with MACD bearish and the stochastic bearish after coming [...]

Global dairy prices collapse, forestalling domestic price recovery

Although the North American flush is over and both milk productivity and the herd are declining across the United States, weak international dairy complex prices are tempering bullish sentiment domestically. Demand from Asia, China in particular, has been weak and as buyers retreat from [...]

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