Posted: November 23rd, 2013 | Author: Rod Sherkin | Filed under: Agricultural, Brazil, Sugar | Tags: sugar, sugar brazil, sugar future, sugar glut, sugar india, sugar ourput, sugar price, sugar surplus | No Comments »
After a temporary jump last month due to Copersucar‘s terminal facilities fire, the raw-sugar futures fell 0.6% Friday, their lowest level since Sept. 19, to end at 17.40 cents a pound on the ICE Futures U.S. exchange as dry weather allowed Brazilian mills to process plenty of cane, adding to a global glut.
Stockpiles will increase 0.5 percent to 43.379 million metric tons in the marketing period ending in 2014 for most countries from a year earlier, the U.S. Department of Agriculture said today in its November 2013 Sugar World Markets and Trade report . That topped a May forecast by 13 percent. Thailand’s output will climb to a record 10.9 million tons, up 9 percent from a year earlier and 3.8 percent more than estimated in May.
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Posted: October 9th, 2013 | Author: Rod Sherkin | Filed under: Corn, Energy, Energy | Tags: biofuel, Corn, corn price, ethanol, ethanol price | No Comments »
Ethanol dropped to the lowest price in more than three years, expanding its discount to gasoline, on speculation the corn harvest will enable distillers to increase production of the biofuel.
Denatured ethanol for November delivery fell 1.2 cents, or 0.7 percent, to $1.675 a gallon on the Chicago Board of Trade after touching $1.668, the lowest price since July 2010. Futures have dropped 24 percent this year.
via Ethanol Lowest in Three Years on Signs of More Output (Correct) – Businessweek
Posted: October 8th, 2013 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Corn, Cotton, Food, Soybaens, USA | Tags: commodities, commodities market, US government shutdown | No Comments »
The US government shutdown is starting to disrupt commodity markets. Beyond its budget gridlock, the United States could default on its debt if no agreement is reached in Congress by Thursday of next week. This threat to the world’s largest economy has slightly brought down the oil market last week, but is not taken seriously by the commodity markets.
However, the paralysis of a large part of the US administration is already disrupting markets. Since last Tuesday, for example, the US Department of Agriculture has not published any report: no information on U.S. exports last Thursday, no statistics on U.S. agriculture production. It is also unlikely that next Friday, the monthly key report on global supply and demand for agriculture products will be available. But, this USDA report is the reference for the global markets and it can greatly influence global grain prices up or down at a key period, the harvest of corn and soybeans.
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Posted: October 8th, 2013 | Author: Rod Sherkin | Filed under: Agricultural, Food | Tags: canola, canola canada, canola futures, canola market, canola production | No Comments »
The Canadian government raised sharply its estimates for canola-seed production on Friday, sending prices in the futures market toward three-year lows. The canola seed is used to make cooking oil that in recent years has made big inroads among health-conscious consumers. It competes with Soybean Oil and Palm Oil.
Prices have tumbled 21% this year as investors and traders have anticipated the big influx of supplies from Canada, the world’s largest exporter and No. 2 grower of canola, after the European Union.
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Posted: September 30th, 2013 | Author: Rod Sherkin | Filed under: Agricultural, Corn, Soybaens | Tags: Corn, corn future, corn price, soybean, soybean future, soybean price | No Comments »
Corn futures plunged to a three-year low after the U.S. Department of Agriculture boosted its inventory estimate by 25 percent.
Soybeans dropped the most in six months as supplies topped analyst estimates by 11 percent.
Corn futures dropped 2.8 percent to close at $4.415 a bushel at 1:15 p.m. on the Chicago Board of Trade. Earlier, the price touched $4.4075, the lowest for a most-active contract since Sept. 1, 2010. Corn has tumbled 37 percent in 2013.
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Posted: August 28th, 2013 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Corn, Food, Soybaens, Wheat | Tags: Corn, corn price, corn yield, drought, heatwave, soybean, soybean price, soybean yield | No Comments »
Temperatures are poised to pass 38°C (100°F) in the coming week in western corn-belt states such as Iowa. The heat revived memories of the devastating drought in the US last year, which slashed grain output and sent prices soaring.
A heat wave in parts of the Plains states and Midwest kept temperatures Monday as high as 20 degrees above normal, and it’s likely to last until the end of the week.
Heat warnings and advisories are in effect for eight states: North Dakota, South Dakota, Nebraska, Illinois, Wisconsin, Iowa, Minnesota and Missouri.
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Posted: July 31st, 2013 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Corn, USA | Tags: Corn, corn 2013, corn condition, corn forecast, corn future, corn maturity, corn outlook, corn price, corn production, corn supply, ethanol | No Comments »
CBOT corn for September delivery ended down 2-3/4 cents at $4.89-1/4 a bushel after bottoming out at $4.88-1/4 earlier in the session. The intraday low was the lowest price for front-month corn since $4.87-3/4 on Oct. 7, 2010.
New-crop corn for December delivery fell again, down 2-3/4 cents to $4.73-1/4 a bushel. December corn has fallen six days in a row and eight of the last nine sessions.
Rain might have ruined midsummer cookouts, but the soggy weather has produced the best corn conditions in the past five years, according to U.S. Department of Agriculture reports .
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Posted: June 13th, 2013 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Wheat | Tags: wheat, wheat export, wheat future, wheat price, wheat supply | No Comments »
Inventories of all wheat varieties as of June 1, 2014, will total 659 million bushels, the U.S. Department of Agriculture said today in a report. That’s more than the 655 million projected by analysts in a Bloomberg survey and less than the 670 million the government forecast in May. U.S. output will drop this year to 2.08 billion bushels, compared with last month’s prediction of 2.057 billion.
Wheat traded in Chicago, a global benchmark, fell about 10 percent this year on the outlook for rising production. The projected rebound follows drought in 2013 that hurt harvests in Russia, Ukraine, southern Europe and the U.S.
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Posted: May 5th, 2013 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Corn, Wheat | Tags: cereals future, corn future, grain future, wheat future | No Comments »
The United States Department of Agriculture’s Crop Progress report, published last week, showed conditions deteriorated in Kansas, Oklahoma and Texas following freezing temperatures in April.
Winter extended unusually in the United States, there were more than 30 cm of snow in western Iowa, a major grain states in the country. When there is no snow, it’s rain preventing farmers from sowing. Having sowed only 5% of corn in may had not happened in the United States for nearly thirty years.
“We’ve been concerned by some extraordinarily cold morning temperatures,” said Todd Hultman, a grains analyst at DTN. “The USDA report just added confirmation that people are expecting damage from those conditions.”
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Posted: April 16th, 2013 | Author: Tom Bowers | Filed under: Agricultural, Best practices, Commodities, CSR in purchasing, Greening the Supply Chain, Negotiating with Suppliers, What's Happening in Our Profession | Tags: drought, economic sustainability, sustainability, sustainable practice | No Comments »
Weekly drought figures released by the US Drought Monitor show the situation continues to be a problem with approximately 50% of continental US now suffering from a moderate drought or worse.
Despite recent precipitation bringing welcome relief and downgrading of the drought status in some parts of the country, the long term picture shows challenges remain.
Changing weather patterns and increasing likelihood of extreme weather events are pushing sustainable supply chain management up the agenda for many companies. The US drought is just one of many examples of how changing weather patterns can create clear and present supply chain risks.
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