US farmers are slowly making progress toward getting the growing season underway for spring-planted crops, with corn, soybean and spring wheat planting all running behind the average pace normally seen at this time of year.
North American cocoa grindings rose more or less within market forecasts, data from the National Confectioners Association (NCA) showed on Thursday (April 18).
The International Dairy Federation (IDF) is set to encourage better international practices for Brazilian milk production, according to its Director, Caroline Emond.
Soybean futures ended lower Monday, pressured by weakness in wheat and corn futures. Soybean meal and soybean oil futures also settled modestly lower. May soybeans were 3 1/2 cents lower at USD8.77.
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The IEG Vu Dried Fruit & Nuts 2019 market review is now available to download.
The Brazil nut industry is set to seek new markets in the Far East, after experiencing a two-thirds fall in price to USD3.2 per pound in 2018 after a record USD9.75/lb in May 2017.
Grains & Softs
Sugar mills in Brazil’s Centre/South (CS) region are expected to raise sugar production in the new 2019/20 season to somewhere between 27 and 28 million tonnes, tel quel, from 26.5 mln in 2018/19, local consultancy Canaplan projected.
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US wheat markets closed lower to start the week with Minneapolis being the leader to the downside.
Corn prices were weaker on Monday, with the May settling 3 1/4 cent to $3.54 3/4.
Brazil’s largest manufacturer of roasted and ground coffee, Três Corações reported a net profit of BRL 298.4 million (USD75.95 million) in 2018, up 16.6% over the previous year.
Processed Food & Ingredients
Recent overnight frosts in Bulgaria are reported to have inflicted significant damage on fruit plantations in the north-east of the country.
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The company is introducing shrink-wrap packaging made from 50% post-consumer recycled waste (PCRW). By the end of the year, all its UK-made brands and products it makes under private label will come packed in the sustainable wrapping.
Ontario agriculture minister Ernie Hardeman has called for the province's vegetable processing industry marketing and pricing system overhaul, and received a backlash from the industry.
The sudden onset of warmer weather in the UK will divert attention from traditional bakery products containing dried fruit to other more seasonal lines, such as salads and summer recipes. The good news is that UK importers have reported strong pre-Easter sales and virtually no delays either for shipment or at the ports of arrival. The only ongoing difficulty is the continuing fluctuation in the value of sterling against both the euro and the US dollar.
Dairy & Meat
The price explosion on European pig markets has continued over the past week, with prices once more surging upwards in response to Chinese import demand.
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EU lamb prices have risen further over the past week, breaking back through the EUR550 per 100kg barrier for the first time since last June.
Both Polish and Czech commodities continued showing volatility, with wholesale prices only down by marginal levels in Poland.
A new bill introduced last week by Sen. Jon Tester (D-Mont.) would temporarily suspend beef and poultry imports from Brazil until USDA sets up a new food safety working group that can recommend whether the products are safe.
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