The latest crop progress report from the U.S. Department of Agriculture revealed the performance of crops such as corn, wheat and soybean.
Hurricane season on some states causes speculative buying on FCOJ. Corn and soybeans are looking bright as both crops closed strong on Friday.
Wheat is looking optimistic as spring plantation offsets previously weak crop productions. Orange juice is possible to rally behind due to bad weather.
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.
Favorable weather pushes for an increase in wheat production. Orange juice, coffee and sugar stocks remain consistently high in the weekly charts.
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.
Agricultural crops closed low since last week with coffee and sugar futures looking dimmer. Cocoa grind data are eventful, scoring high this week.