Agriculture

During the annual North Dakota crop tour, scouts forecasted that hard red spring wheat yields will average 54.5 bushels per acre, marking the highest yield ever recorded since 1992. This estimate significantly surpasses the Wheat Quality Council’s 2023 estimate of 47.4 bushels per acre and the five-year average of 42 bushels per acre, excluding 2020. […]

Indonesia’s cocoa output is anticipated to decrease this year as the lingering effects of last year’s El Niño weather pattern continue to impact production, according to the cocoa farmers’ association. The dry season experienced last year was the most severe since 2019, with the prolonged El Niño phenomenon causing drought conditions that adversely affected cocoa […]

The global sugar market is projected to face a smaller-than-expected supply surplus in the 2024/25 season (October-September), primarily due to a significant reduction in Brazil’s sugar crop, according to broker StoneX. The firm revised its forecast for Brazil’s Centre-South sugar output, lowering it by nearly 2 million metric tons to 40.5 million tons. This decrease […]

Australia’s corporate watchdog, the Australian Securities and Investments Commission (ASIC), has accused two local subsidiaries of China’s COFCO Corp of manipulating domestic wheat futures prices. In a court filing, ASIC stated that an employee of COFCO International Australia placed orders to sell Eastern Australia Wheat Futures contracts below market value 34 times in 2022, just […]

The Wheat Quality Council’s annual crop tour has revealed that U.S. spring wheat crops in northwest and north-central North Dakota are expected to achieve the highest yields since at least 1994. Crop scouts estimated an average hard red spring wheat yield of 53.7 bushels per acre, a significant increase from 45.7 bushels per acre in […]

Indonesia, the world’s largest producer of palm oil, is preparing to increase the share of palm oil blended into biodiesel from 35% to 40% (B40) in 2025, according to the energy ministry. This change could elevate biodiesel consumption to approximately 16 million kilolitres (KL) next year, up from an estimated 13 million KL in 2024. […]

Brazil’s soybean meal exports are anticipated to reach a record 2.40 million metric tons in July, according to data from the grains exporter association Anec. This figure, if confirmed by the end of the month, would surpass the previous monthly high of 2.27 million tons set in May 2023. Anec has revised its forecast for […]

The first day of the annual U.S. crop tour revealed that spring wheat yields in southern and east-central North Dakota are expected to reach record levels, with an estimated average yield of 52.5 bushels per acre. This surpasses last year’s day-one estimate of 48.1 bushels and significantly exceeds the five-year average of approximately 42.2 bushels, […]

India is poised to import a record 1.92 million metric tons of edible oils for July delivery, driven by significant purchases of palm oil and soyoil as refiners capitalize on favorable prices amid expectations of an impending hike in import duties. This marks an increase of nearly 26% from the previous month. As the world’s […]

The upcoming October-to-March main cocoa crop in Ivory Coast is progressing positively in most major growing regions, aided by favorable weather conditions last week, according to farmers on Monday. Although the country is currently in its rainy season, which typically lasts from April to mid-November, recent weeks have seen below-average rainfall. Farmers noted that while […]