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Latest From John Buckley
A point of interest for rapeseed in this week’s USDA monthly forecasts was less their inclusion of recent larger Canadian and lower India and Australian crop estimates into a higher world total, more where it saw the extra supplies going.
Origin palm oil markets turned ‘South’ with a vengeance, hitting 16-month lows in the wake of bearish news on demand and stocks.
New York raw sugar futures paid scant attention to some supportive news in the past week, backtracking further from their recent rally on speculative selling.
If Brazilian output well exceeds expectations – and it wouldn’t be the first time – soy markets might be even more flush with surplus supplies in 2018.
Weaker wheat prices and signs of an improving rain outlook in dry areas of Argentina saw CBOT corn futures sagging again this week to their own new life-of-contract and 3½-month lows.
New York cocoa prices have been close enough to their July nadir recently to beg some caution from eager sellers.