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3 hours ago
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Sugar Prices Fall on the Outlook for Robust Global Supplies
October NY world sugar #11 (SBV25) on Monday closed down -0.27 (-1.63%), and August London ICE white sugar #5 (SWQ25) closed down -14.90 (-3.08%). Sugar prices on Monday gave up an early advance and fell sharply, with London sugar posting a 1-week low. Sugar prices have plummeted over the past three months due to expectations of a global sugar surplus. On July 2, October NY sugar posted a contract low, and Aug London sugar posted a 3.75-year nearest-futures low, while on June 30 the July NY sugar contract posted a 4.25-year low on the nearest-futures chart. On June 30, commodities trader Czarnikow projected a 7.5 MMT global sugar surplus for the 2025/26 season, the largest surplus in 8 years. On May 22, the USDA, in its biannual report, projected that global 2025/26 sugar production would increase by +4.7% y/y to a record 189.318 million metric tons (MMT), with global sugar ending stocks at 41.188 MMT, up 7.5% year-over-year. Coffee Prices Surge on Dry Conditions in Brazil and Tariff Threats Why Sunday's Open Isn't as Important as the Next Weekly Close Slower Pace of Ivory Coast Cocoa Exports Boosts Cocoa Prices Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. On Monday, NY sugar initially climbed to a 2-week high, and last Wednesday, London sugar posted a 1.5-month high on concerns that global sugar supplies may tighten. Pakistan said last week it will import 500,000 MT of sugar, and the Philippines said it will import 424,000 MT of sugar. The outlook for higher sugar production in India, the world's second-largest producer, is bearish for prices. On June 2, India's National Federation of Cooperative Sugar Factories projected that India's 2025/26 sugar production would climb +19% y/y to 35 MMT, citing larger planted cane acreage. The outlook for abundant rainfall in India could lead to a bumper sugar crop, which is bearish for prices. On April 15, India's Ministry of Earth Sciences projected an above-normal monsoon this year, with total rainfall forecast to be 105% of the long-term average. India's monsoon season runs from June through September. On Monday, the India Meteorological Department reported that rainfall in June was 9% above normal in India and has forecast above-normal rain for July. Signs of larger global sugar output are negative for prices. On May 22, the USDA's Foreign Agricultural Service (FAS) predicted that Brazil's 2025/26 sugar production would rise +2.3% y/y to a record 44.7 MMT. Also, India's 2025/26 sugar production is projected to rise +25% y/y to 35.3 MMT, citing favorable monsoon rains and increased sugar acreage. In addition, Thailand's 2025/26 sugar production is expected to climb +2% y/y to 10.3 MMT. In a bearish factor, the Indian government said on January 20 that it would allow its sugar mills to export 1 MMT of sugar this season, easing the restrictions placed on sugar exports in 2023. India has restricted sugar exports since October 2023 to maintain adequate domestic supplies. India allowed mills to export only 6.1 MMT of sugar during the 2022/23 season to September 30, after allowing exports of a record 11.1 MMT in the previous season. However, the ISMA projects that India's 2024/25 sugar production will fall by -17.5% y/y to a 5-year low of 26.2 MMT. Also, the ISMA reported last Monday that India's sugar production from Oct 1-May 15 was 25.74 MMT, down -17% from the same period last year. In addition, Indian Food Secretary Chopra said on May 1 that India's 2024/25 sugar exports may only total 800,000 MT, below earlier expectations of 1 MMT. The outlook for higher sugar production in Thailand is bearish for sugar prices. On May 2, Thailand's Office of the Cane and Sugar Board reported that Thailand's 2024/25 sugar production rose +14% y/y to 10.00 MMT. Thailand is the world's third-largest sugar producer and the second-largest exporter of sugar. Sugar prices have some support from reduced sugar production in Brazil. Unica reported today that the cumulative 2025/26 Brazil Center-South sugar output through June is down by -14.3% y/y to 12.249 MMT. Last month, Conab, Brazil's government crop forecasting agency, said 2024/25 Brazil sugar production fell by -3.4% y/y to 44.118 MMT, citing lower sugarcane yields due to drought and excessive heat. The International Sugar Organization (ISO) raised its 2024/25 global sugar deficit forecast to a 9-year high of -5.47 MMT on May 15, up from a February forecast of -4.88 MMT. This indicates a tightening market following the 2023/24 global sugar surplus of 1.31 MMT. ISO also cut its 2024/25 global sugar production forecast to 174.8 MMT from a February forecast of 175.5 MMT. The USDA, in its bi-annual report released May 22, projected that global 2025/26 sugar production would climb +4.7% y/y to a record 189.318 MMT and that global 2025/26 human sugar consumption would increase +1.4% y/y to a record 177.921 MMT. The USDA also forecasted that 2025/26 global sugar ending stocks would climb +7.5% y/y to 41.188 MMT. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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4 hours ago
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Hogs Closes Mixed on Tuesday
Lean hog futures were mixed on Tuesday, with contracts up 70 to down 50 cents in most nearbys. July expired today. USDA's national base hog price was reported at $112.60 on Tuesday afternoon, up $3.02 from the day prior. The CME Lean Hog Index was back up 15 cents at $107.25 on July 11. USDA's FOB plant pork cutout value from Tuesday morning was 17 cents higher at $114.02. The ham and belly primals were reported higher, with the other 4 reported lower. Tuesday's estimated hog slaughter was 474,000 head according to the USDA, taking the weekly total to 941,000. That was 6,000 head below last week and 13,913 head lower than the same week last year. Coffee Prices Surge on Dry Conditions in Brazil and Tariff Threats Coffee Prices Sharply Higher on Dry Weather in Brazil and Tariff Threats Cocoa Prices Settle Higher as Ivory Coast Cocoa Exports Slow Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Jul 25 Hogs closed at $106.850, up $0.150, Aug 25 Hogs closed at $103.925, up $0.700 Oct 25 Hogs closed at $87.475, down $0.200, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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4 hours ago
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Cattle Rally Back Higher on Tuesday
Live cattle futures were back to rally mode on Tuesday, with gains of $2.10 to $3.05. Cash trade has yet to get kicked off this week, after strengthening to $228-$230 in the South and $240-241 in the North. Feeder cattle posted a Turnaround Tuesday bounce, with contracts up $2.70 to $2.90. The CME Feeder Cattle Index was back up $1.21 to $321.10 on July 14. The weekly OKC feeder cattle auction saw sales on 6,680 head with price action listed mostly $10-25 higher. USDA Wholesale Boxed Beef prices were mixed in the Tuesday PM report, with the Chc/Sel spread widening to $15.14. Choice boxes were up 65 cents to $377.72, while Select was quoted $2.00 lower at $362.58/cwt. USDA estimated cattle slaughter for Tuesday at 118,000 head, with the weekly total at 230,000. That was 2,000 head below last week and 10,090 head lower vs. the same week last year. Coffee Prices Surge on Dry Conditions in Brazil and Tariff Threats Coffee Prices Sharply Higher on Dry Weather in Brazil and Tariff Threats Cocoa Prices Settle Higher as Ivory Coast Cocoa Exports Slow Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Aug 25 Live Cattle closed at $222.400, up $3.050, Oct 25 Live Cattle closed at $219.275, up $2.500, Dec 25 Live Cattle closed at $219.600, up $2.150, Aug 25 Feeder Cattle closed at $322.275, up $2.800, Sep 25 Feeder Cattle closed at $322.375, up $2.800, Oct 25 Feeder Cattle closed at $320.475, up $2.775, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
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6 hours ago
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Cotton Pushes Gains to Tuesday's Close
Cotton futures popped higher on Tuesday, with contracts closing up 40 to 80 points. Crude oil was down $0.26/barrel at $66.72, with the US dollar index $0.572 higher to $98.335. Weekly Crop Progress data showed condition ratings up 2% to 54% gd/ex, as the Brugler500 index was up 3 points to 339. Ratings in TX were up 5 points, with GA down 13 points. Coffee Prices Surge on Dry Conditions in Brazil and Tariff Threats Coffee Prices Sharply Higher on Dry Weather in Brazil and Tariff Threats Cocoa Prices Settle Higher as Ivory Coast Cocoa Exports Slow Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! The Cotlook A Index was down 15 points on 7/10 at 78.05. ICE cotton stocks were down 275 bales on July 14 via decertification, with the certified stocks level at 34,234 bales. USDA's Adjusted World Price (AWP) was back down 63 points on Thursday afternoon at 54.71 cents/lb. Oct 25 Cotton closed at 67.21, up 80 points, Dec 25 Cotton closed at 68.59, up 47 points, Mar 26 Cotton closed at 69.84, up 44 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
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9 hours ago
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US farm agency ends program to support small businesses
By Leah Douglas WASHINGTON (Reuters) -The U.S. Department of Agriculture said on Tuesday it would cut funding for a national network of centers that have supported thousands of small- and mid-sized farm and food businesses. The cuts are another hit to farmers from President Donald Trump's effort to shrink the size and cost of the federal government. The administration has previously canceled programs for local foods and food banks and climate-friendly farming, among others. Agriculture Secretary Brooke Rollins said in a statement that the agency was terminating the Regional Food Business Centers program because they were not financially sustainable. Four of the 12 centers will close immediately, and the remaining eight have the option to continue managing existing grants through next May, Rollins said. "USDA will honor existing commitments for over 450 grants to farmers and food businesses to ensure planning decisions on the farm can continue as normal, however stakeholders should not plan on this program continuing," she said. The USDA under former President Joe Biden spent $400 million to open the centers as part of its effort to increase resilience and competition in the U.S. food supply chain. The centers have provided training or technical assistance to more than 5,500 farms and businesses, according to a 2024 progress report. "The USDA has made yet another decision to prematurely end multi-year agreements that are effectively serving the small family farms the administration claims to be the focus of their agenda," said Hannah Quigley, policy specialist at the National Sustainable Agriculture Coalition, a policy and advocacy group. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
