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US Corn Acreage Shrinks, While Soybean and Cotton Planting Sees an Uptick

The US corn acreage is projected to decrease for the 2024 growing season, while soybean and cotton acreage are expected to increase, according to the latest Acreage report released by the USDA's National Agricultural Statistics Service (NASS). The report, based on surveys conducted during the first two weeks

US Food Prices Expected to Moderate in 2024, But Uncertainty Remains

Food prices in the United States are expected to continue decelerating in 2024, with inflation slowing compared to recent years, according to a report from the USDA. However, the report also highlights significant uncertainty around these forecasts, particularly for volatile categories like eggs and pork. The report predicts that prices

Global Grains Production Booms, but Tight Stocks and Trade Uncertainties Remain

Global grains production is expected to reach a record high in the 2023/24 marketing year, driven primarily by a strong rebound in wheat production, according to the latest report from the International Grains Council (IGC). However, despite the increase in supply, global stocks are expected to remain tight, and

Argentine Soybean Sales Slump Despite Bumper Harvest

Despite a near-record soybean harvest in Argentina, domestic sales have slumped in June, according to a new report from the Rosario Grain Exchange (Bolsa de Comercio de Rosario). The report reveals that daily soybean trade volume in the local market averaged 87,300 tons so far in June, a significant

EU Crop Yields Face Uncertain Future After Difficult Start to Summer

Hopes for a bumper harvest in Europe are fading as a challenging start to summer threatens to drag down crop yields, according to the latest report from the European Commission's Joint Research Centre (JRC). While overall forecasts remain close to the five-year average, a combination of waterlogged fields,

US Sugar Production Forecast Lowered, While Mexico Output Revised Upward

The USDA has revised its production forecasts for US sugar, decreasing estimates for both the 2023/24 and 2024/25 marketing years. Meanwhile, Mexico's sugar production for 2023/24 has been adjusted upwards, according to the latest report published by the USDA. The US sugar supply for the

Ghana Delays Cocoa Deliveries, Exacerbating Global Chocolate Supply Crisis

Ghana, the world's second-largest cocoa producer, is facing a deepening supply crisis and is set to delay delivery of up to 350,000 tons of cocoa beans to the next season, according to a report by Reuters citing sources familiar with the matter. This decision further exacerbates the

Brazilian Corn Prices to Surge as Ethanol Demand Fuels Domestic Consumption

Ethanol production is poised to drive up Brazilian corn prices, incentivizing domestic consumption and potentially limiting exports in the upcoming marketing year, according to an industry expert interviewed by S&P Global Commodity Insights last week. Arthur Neto, partner director at Alphamar Shipping Agency, predicts that corn usage for

US Soybean Ending Stocks Projected Higher for 2024/25 as Crush Declines

The USDA has revised its forecast for US soybean ending stocks in the 2024/25 marketing year upwards by 10 million bushels, reaching 455 million bushels. This increase is attributed to a downward revision of the soybean crush forecast for the current 2023/24 marketing year, reflecting lower domestic demand

Cotton Prices Retreat as Global Production Rises and Demand Uncertainties Persist

Benchmark cotton prices have retreated over the past month, with most contracts experiencing a decline, according to a report published last week by Cotton Incorporated. While a surge in prices during the second half of May offered a brief respite, the overall trend suggests downward pressure as global production is