May NY world sugar #11 (SBK24 ) this morning is down -0.32 (-1.60%), and Aug London ICE white sugar #5 (SWQ24 ) is down -8.30 (-1.44%). Sugar prices retreated today based on the outlook for a larger sugar output in Brazil. Conab, Brazil's crop agency, projected today that Brazil's 2024/25...
July ICE NY cocoa (CCN24 ) this morning is down -451 (-4.09%), and May ICE London cocoa #7 (CAK24 ) is down -202 (-2.06%). Cocoa prices today gave up an early advance and fell sharply on an increase in cocoa supplies. Nigeria, the world's fifth largest cocoa producer, reported today...
July arabica coffee (KCN24 ) this morning is up +2.70 (+1.20%), and July ICE robusta coffee (RMN24 ) is up +61 (+1.43%). Coffee prices this morning are moderately higher, with July robusta posting a new contract high. Robusta coffee prices are seeing support from concern about tight robusta supplies from...
A southern Illinois farmer says their planting season is well underway. Ralph Voss, who farms in Clinton County, outside of Carlyle, tells Brownfield… “We’re about half done with corn and ain’t put a bean in the ground yet,” he says. He says field conditions have been ideal. “They’re a garden!” ...
June WTI crude oil (CLM24 ) this morning is down -0.50 (-0.59%), and May RBOB gasoline (RBK24 ) is down -1.79 (-0.66%). Crude and gasoline prices this morning are moderately lower on energy demand concerns after US Q1 GDP growth rose less than expected. Losses in crude are limited after...
USDA Undersecretary for Trade and Foreign Agricultural Affairs Alexis Taylor is optimistic about future trade opportunities with India. Taylor told reporters during a call Wednesday that the country reduced tariffs on several agricultural products (almonds, apples, chickpeas, lentils, walnuts, blueberries, cranberries, turkeys, and frozen duck) in 2023. “USDA estimates that...
A market analyst says the corn futures markets is looking for a reason to push above $4.50. Naomi Blohm, senior market advisor at Total Farm Marketing, tells Brownfield… “If it doesn’t, it doesn’t mean we’re going to crash and burn, but it could mean we see a simple 10 cent...
The S&P 500 Index ($SPX ) (SPY ) this morning is down -1.41%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -1.79%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.70%. US stock indexes this morning are sharply lower, led by weakness in technology...
An ag economist says higher interest rates are one of the biggest risks facing the ag industry. Dennis Shields is the chief economist for the Farm Credit Administration. “For the ag industry in particular, these elevated interest rates push up production costs and especially those with variable rates.” He tells...
The dollar index (DXY00 ) today rebounded from a 1-1/2 week low and is slightly higher. The dollar saw support today after bond yields jumped when today’s US economic news showed signs of persistent inflation and labor market strength, hawkish factors for Fed policy. Also, today’s slump in stocks has...
An atmospheric scientist says short-term weather outlooks show increased chances of precipitation across the Delta region. Matt Makens tells Brownfield it could also bring some severe storm systems. “We could get a system that douses that region tropical wise,” he said. “But if you take that element out – let’s...
Iowa’s 2024 legislative session has ended and state ag secretary Mike Naig says a number of agricultural priorities were supported. “A continued investment in sustained efforts around water quality and soil conservation. We had asked for an increase and received that in our foreign animal disease work. We had asked...
The S&P 500 Index ($SPX ) (SPY ) this morning is down -1.42%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -1.43%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.83%. US stock indexes this morning are sharply lower, led by weakness in technology...