Wheat and corn markets were lower for the week in response to negative USDA reports.
Demand from the mills is said to be quiet, but exports are going strong, with US prices deemed competitive in Latin America and the Caribbean Basin.
With El Nino in the forecast, Brazil could be affected by drought which could hurt its coffee production. Meanwhile, India will explore ethanol use for surplus...
Cocoa crops in the Ivory Coast are estimated at 1.985 million tons while weekly charts show a downtrend for rice crops.
Higher wheat prices are expected in the next few weeks. Meanwhile, soybean and soybean meal rally on talks of new purchases from China.
Soybeans and soybean products are expected to rally sharply this week after the United States and China reached a truce on tariffs over the weekend.
Poor petroleum futures have affected the commodities market in the past week. Cotton had improved sales in China while there are plenty of sugar supplies.
The price of sugar closed lower in New York and London due in part to weak petroleum futures. There was also reduced selling in Brazil.
President Donald Trump's tweet about meeting with Chinese President Xi triggered a rally among rice, cotton and soybean on prospects of better trade deals.
Weekly export sales of corn perform poorly while unknown destinations bought 200,000 tons of US soybeans.