The US-China trade talks continued. Enough progress was made that the US, including the president, made noises about postponing and increase in tariffs.
The United States and China are expected to conduct more meetings this week. Markets wait for both countries to reach a trade dispute resolution.
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.
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.
The U.S. and China reached a trade war truce during the G20 Summit, and this resulted in positive movement in various markets.
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.
Weekly export sales of corn perform poorly while unknown destinations bought 200,000 tons of US soybeans.