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News, Insights and Stories on Ag Commodities

Global Corn Production Forecast Lowered | World Grain

The International Grains Council (IGC) has revised its 2024-25 global corn production forecast lower by 7 million tonnes due to rising disease and drought stress in the Southern Hemisphere, as reported by World Grain. Despite the reduction, the projected corn output of 1.226 billion tonnes would still be a

Corn Sales Rebound, Led by Demand from Colombia and Mexico

Corn sales for the week through April 11 experienced a significant rebound, with net sales totaling 501,200 metric tons (MT), according to the latest export sales data released by the U.S. Department of Agriculture. This represents a 54% increase from the previous week, although it remains 45% below

US Wheat Farmers Face Bleak Outlook as Oversupply Weighs on Prices | Reuters

As reported by Reuters, US wheat farmers are facing a difficult economic outlook in 2024 due to a combination of factors, including a global grain glut and high production costs. Prices for US wheat have plummeted as abundant supplies from the Black Sea and Europe have replenished global stockpiles. This,

Ukraine Backs Out of Black Sea Grain Deal Talks, Economist Says | Brownfield

Agricultural economist Jim McCormick, in an interview with Brownfield, said a proposed deal to resume grain exports from Ukraine through the Black Sea collapsed last month. According to McCormick, reports indicate Ukraine walked away from the agreement. The deal would have facilitated the movement of Ukrainian agricultural goods through the

Nigeria Poised to Cash In on Cocoa Price Boom | New Telegraph

Nigerian cocoa exporters are poised to reap significant benefits from a surge in cocoa prices, as reported by New Telegraph. With global production experiencing a 10.9% decline, cocoa prices have skyrocketed to $10,030/ tonne in April 2024, and Nigerian exporters are expected to reap N3.2 trillion ($2.

China and EU Drive Surge in Global Wheat Imports

The latest Wheat Outlook published by USDA reported a significant increase in wheat imports by China and the European Union, driven by a rise in feed and residual use. Both regions are utilizing more wheat for animal feed due to large imports of feed-quality wheat and competitive pricing compared to

Cocoa Prices Tumble on Demand Concerns | Barchart

As reported by Barchart, cocoa prices dropped significantly this morning due to worries that record-high prices might stifle global demand. May ICE NY cocoa (CCK24) fell -744 (-6.76%), and May ICE London cocoa #7 (CAK24) is down -559 (-6.09%). This comes after a recent surge in cocoa prices

China's Wheat Production Poised for Record High as Consumption Stays Steady

China's wheat production is set to reach a record high in the 2024/25 marketing year, driven by favorable weather conditions and strong yields, according to a report published by the USDA's Foreign Agricultural Service (FAS) last week. The report projects China's wheat output