McKeany-Flavell Hot Commodity Podcast Series: Enter the Year of the Dragon! Our predictions for 2024 

Ring in the new year with McKeany-Flavell! Today’s podcast episode covers our market predictions for corn, sugar, dairy, cocoa, wheat, edible oils, and economy and energy for 2024Our host, McKeany-Flavell president and CEO, Michael Caughlan sits down with our team of experts: Shawn Bingham, Kevin Combs, Jeffrey Rasinski, Craig Ruffolo, Nicole Thomas, and Eric Thornton to discuss their predictions for the coming year. This episode is full of insights on what to look out for in 2024, and it is a great episode to start with if you have not listened to our podcast before! 

Hear our experts’ predictions for 2024

Poor cane tonnage and sugar yield affected YOY cumulative sugar production in Mexico. World #11 raw sugar market may attribute its bearish side to Brazil’s sugarcane coupled with an increased preference for cane-based sugar. Sugar supply is tight in southeast Asia due to poor weather conditions. Delays in ports for sugar may be caused by the wet weather in some parts of Brazil, affecting field work and transportation. 

Current cocoa bean exports are below expectations. Food retailers are considering a pricing stance due to the current cocoa futures trend. Previous weather conditions affected crops and will likely impact the state of cocoa pods in the next quarter. The length and severity of the harmattan is expected to affect the second half of the main crop and the initial set for 2024’s mid-crop. 

According to USDA’s recent Cold Storage report, stocks of AA grade butter have declined. The demand for butter in this peak season influenced stocks. 

This report summarizes a small sampling of the information available on our IQ Ingredient Intelligence platform. Further insights, statistics, analysis, and pricing information for these commodities and others are available to IQ subscribers.

Learn more about becoming a subscriber.

Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.