Connect with us
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.
Rainy season could impact coffee quality and yields, while sugar prices closed higher again in New York.
Export demand for cotton needs to improve for prices to rally while coffee futures were high last week.
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.