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Mexico's Sugar Production Falls to 25-Year Low

Mexico's sugar industry is facing significant challenges, with production expected to hit a 25-year low in 2023/24, according to the USDA's April report on sugar and sweetners. This decline is attributed to a combination of unfavorable weather conditions, rising input costs, and reduced harvested area.

Barry Callebaut Invests in Cocoa Farming Amid Price Surge

Swiss chocolatier Barry Callebaut AG launches an initiative to invest in cocoa farming as prices for the key chocolate ingredient soar, squeezing profits for confectioners. The company is piloting and developing best practices in sustainable cocoa farming in Brazil and Ecuador, it said in a statement on Thursday. The initiative

Cocoa Futures Hit Record High Amidst Processing Surge | Bloomberg

Cocoa futures hit a record-breaking $11,722 per ton on Friday, defying a global shortage and skyrocketing prices, reports Bloomberg. This surge comes despite concerns about a supply crunch. Data reveals North American chocolate processing ("grinds") rose nearly 4% in the first quarter compared to last year. Similar

Paraguay's Record Soybean Harvest Faces River Woes | Reuters

Paraguay is celebrating a record-breaking soybean harvest of 10.4 million tons, but low water levels in the Paraguay River threaten to slow exports, as reported by Reuters. The key waterway for transporting soybeans is suffering due to drought in central-west Brazil. Shallower waters limit cargo capacity on barges, causing

Cotton Market Faces Headwinds as Prices Fall

Cotton futures saw another week of decline, with December contracts reaching a low of 77.26 cents per pound, according to Cotton Grower. While the July contract remained above 80 cents, the overall market trend points towards weakness. "The cotton on-call statistics fail to support any bullish attitude for

Soybean Oil Faces Competition in Renewable Diesel Boom | RBN Energy

The rise of renewable diesel (RD) is creating a scramble for feedstock, the raw materials used to produce the fuel. This has major implications for the soybean oil market, according to a recent article by RBN Energy. Soybean oil has traditionally been the king of RD feedstocks, but its dominance

U.S. Cotton Exports Surge, Driven by Strong Demand from China

Export sales of U.S. upland cotton saw a significant boost for the week through April 11, with net sales reaching 146,100 running bales (RB), according to the weekly data released by the U.S. Department of Agriculture. This represents a 79% increase from the previous week and a

Global Wheat Production Remains Stable, Consumption Rises

The USDA's latest Wheat Outlook report indicates that global wheat production for the 2022/23 marketing year will remain relatively stable, with a slight increase of 0.1 million metric tons (MMT) to 789.0 MMT. This stability is attributed to increased production in Ethiopia, which offset reductions

US Wheat Exports Hit 50-Year Low

The U.S. Department of Agriculture (USDA) reported a decline in U.S. wheat exports for the 2022/23 marketing year, as compared to the same period in the previous year. Exports reached only 775 million bushels, marking the lowest point since the 1971/72 season. This decrease is attributed

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