2021/22 world palm oil stocks lowered to 12.8 MMT

USDA lowered projected 2021/22 world palm oil stocks by 149,000 MT in the January oilseeds update. A decline in Malaysian palm oil production was the major factor in the adjustment. Production in Malaysia is now forecast at 18.7 MMT, down 1.0 MMT from the [...]

Pacific La Niña conditions bring atypical weather to Americas

Intensified upwelling in the equatorial Pacific is bringing unusually cold sea surface temperatures, part of the cold event known as La Niña. Although the exact atmospheric mechanics are not fully understood, these colder surface temperatures are generally associated with drier growing conditions across South [...]

Corn futures remain in consolidated trading pattern

Futures activity Dec-21 corn futures closed last week a bit higher at just under $5.27 per bushel. Futures are inverted for the second half of 2022, with the July contract less than a cent lower than that of May and September futures about $0.26 [...]

Corn futures retreat from spike after plantings report

The 2021 Prospective Plantings and Grain Stocks reports delivered plenty of surprises last week. Expectations were for planned corn acres to come in around 93.1 million acres. The result? The market was left 2 million acres short at 91.1 million acres, and prices rose [...]

Corn rises again

Nothing seems to be stopping speculative interest in corn (and other ag commodities). Dec-21 corn futures continued to climb higher last week, testing contract highs near $4.20 per bushel, a value last reached in July 2019. The current net long position in ag commodities [...]

La Niña arrives

The Australian Bureau of Meteorology has officially declared the start of an ENSO event with sea surface temperatures (SST) across the tropical Pacific colder than normal (-0.8 °C) and consistent trade winds. The current La Niña is expected to be moderate in strength through [...]

Latest sea surface temperatures may hold clues for upcoming cocoa season

The latest NOAA satellite data is yielding some interesting observations for weather across West Africa in both the short and long term. Specifically, we have seen a significant cooling in the equatorial Pacific region consistent with potential development of La Niña later this year. [...]

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