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Cotton maintains a strong export demand despite uneven planting and dry weather. Rice moves down for now but plantation is starting to progress.
Cotton production trends as demand and price are looking good for July futures. Orange juice and coffee rally due to the rainy season.
Weekly charts closed strongly for palm oil and vegetable oils as stock and demand rise due to a trade shift in the US-China dispute.
The 2018 Farm Bill includes the establishment of a vaccine bank in efforts to combat foot and mouth disease, a contagious illness plaguing livestock.
Florida fruit harvesting makes for a higher orange juice production this week. Palm oil closed higher despite the short week due to Malaysian elections.
New corn crop trade estimates are slightly higher than expected at 1.682 billion bushels while global inventories are well below the average.
Favorable weather pushes for an increase in wheat production. Orange juice, coffee and sugar stocks remain consistently high in the weekly charts.
The upcoming May WASDE reports may reflect optimism for corn futures as bushels' average continue to rise while soybean is expected to drop slightly.
The orange juice market makes headlines this week as it surpasses other crops. Vegetable and palm oils dropped due to lesser demands.
The rainy season favors the Argentinian market as commercial buying props up soybeans. Crop futures are also looking agriculturally optimistic.