July nonfat dry milk stocks highest in 13 years

The latest dairy products report showed a continued build in many dairy product categories. Cheese was the obvious winner, with total output in July up 1.1 percent from July 2021 and showing a nominal gain of 0.5 percent month over month. Both American- and [...]

Corn prices eclipse $7 per bushel

Futures activity A bullish WASDE report last Monday pushed spot corn futures above $7 per bushel for the first time in two months, hitting $7.12 per bushel on that day’s close. S&D and fundamental factors Monday’s WASDE report was in line with expectations in [...]

U.S. 2022/23 sugar beet quality concerns

In its latest reporting, USDA showed a slight decline in the overall quality of the 2022/23 sugar beet crop. For the top four growing states, beets in good to excellent condition fell from 75.0 percent to 72.3 percent of the crop. Beets in the [...]

Mexico sugar pricing ticks higher in September

In the week of Sep. 12, reference sugar prices ticked slightly higher, up half a percent for estandar and up 0.8 percent for refined from the prior week. Source: SNIIM, McKeany-Flavell Average estandar pricing dipped 0.1 percent in August, while refined pricing rose by [...]

Sharp drop in palm oil imports during July

The U.S. imported just 51,647 MT of refined palm oil in July, down 56 percent from June and the lowest monthly volume since October 2010. The sharp slowdown in imports may be a response to the recovery in U.S. refined palm oil stocks as [...]

When heat becomes a weapon of mass destruction

To say that energy markets have become more politicized in recent months would be an understatement. In a recent meeting, the G7 (Canada, France, Germany, Italy, Japan, UK, and the U.S.) proposed a cap on the price of Russian oil in response to that [...]

September WASDE sees tighter corn & soybean balance sheets

USDA reduced acreage and yield estimates for 2022/23 corn and soybeans. The declines in both crops’ production numbers were partially offset by lower use forecasts, but ending stocks are still expected to drop notably from 2021/22 in a highly competitive market. For corn, the [...]

June ethanol production up 2% YOY

Ethanol manufacturers produced 31.3 million barrels (1.31 billion gallons) of ethanol during June, almost the same as May’s volume. Cumulative production rose to 7.71 million gallons, up 7 percent year over year. Production was also ahead of the five-year average for the month (+3.4 [...]

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