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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.
Cotton suffers from poor export sales report from USDA, while coffee, sugar and cocoa closed higher.
Sub-freezing temperatures drove the US wheat markets while demand remains strong for oats and corn.
Prices of wheat, corn and oats have dipped in the U.S. but things are looking good for sugar, cotton and orange juice.
US crop prices continue to be volatile due to several factors like the weather, and exports from other countries.