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Latest From John Buckley
The collapse in soy complex values continues to demand a response from the smaller rapeseed market, despite recent reductions to the latter’s 2018/19 crop forecasts.
Ideas that cheap prices are stirring consumer interest combined with Malaysian’s weakening ringgit currency to lift palm oil prices off their recent near three-month lows this week.
CBOT soy futures showed signs of bottoming out from their long slump in the past week as less favourable weather trimmed US crop ratings and traders saw more signs of cheap prices stirring import interest.
A larger than expected European second quarter grind number failed to offer much support to cocoa futures coming under renewed downward pressure this week from reports of improving West African crop weather.
After a roaring start, the US corn crop seems to be getting some less than ideal weather – mainly too dry in parts of the Plains but too wet too in some Midwest areas.