As Mexico challenges U.S. tariffs, rice imports struggled to keep up. Cotton delivers another success following its triumphant harvest last week.
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.
Florida fruit harvesting makes for a higher orange juice production this week. Palm oil closed higher despite the short week due to Malaysian elections.
The orange juice market makes headlines this week as it surpasses other crops. Vegetable and palm oils dropped due to lesser demands.
Agricultural crops closed low since last week with coffee and sugar futures looking dimmer. Cocoa grind data are eventful, scoring high this week.
China threatens to tax US soybeans by 25 percent above the normal rate but supply and demand continue to rise, owing to the wet weather.
Trade wars between the US and China hurt crops as futures remain volatile despite closing high on wheat, palm oil, vegetable oil and rice.
Thanks to USDA Perspective Plantings, corn and soybeans closed higher this week. Despite a drop, cotton and sugar remain unfazed.
More soybean and soybean meals were sold last week in anticipation of China’s retaliation against the Trump administration’s trade tariffs.