Cocoa crops in the Ivory Coast are estimated at 1.985 million tons while weekly charts show a downtrend for rice crops.
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.
U.S. export demand for cotton has been poor in the last few weeks, while Vietnam is gearing to harvest its coffee but needs to free up...
Export demand for cotton needs to improve for prices to rally while coffee futures were high last week.
Coffee futures are under selling pressure on ideas of strong production. Wheat and corn edged higher for the week while other crops were lower.
World’s stock of rice increased to 144.4 million tons while despite low cotton prices, harvest has been active in the south.
Corn is preparing for the next round of USDA estimates while coffee production remains positive in Brazil and Vietnam.