Commodities

Brazil's centre-south is the market's swing supplier, and its 2026/27 season has been unusual. Cumulative figures to 1 October showed cane crushing up 1.81% at 412.4 million tonnes, yet sugar output down 10.29% at 24.1 million tonnes. Mills sent 53.44% of cane to ethanol, …

The clearest evidence of rising supply is at ICE warehouses. Some 104,370 bags of Brazilian coffee were waiting for grading, the most in eight months, and certified arabica stocks rose above 241,000 bags, their highest since mid-October.

USDA raised its national soybeanYieldto 53.3 bushels per acre from 53.1, putting production at 4.574 billion bushels. All 15 firms in a Dow Jones survey had expected a record yield, averaging 53.6 bushels and 4.601 billion bushels of output, so the crop came in …

Before the report, December corn had fallen to its lowest level since 30 June and was heading for a sixth consecutive lower weekly close, having lost more than $1 a bushel from its highs.

Geopolitics explains much of the recent move. Hopes for a Russia-Ukraine settlement have eroded the risk premium that built up over the summer. Talks in Abu Dhabi on 10 and 11 November produced a prisoner exchange but no Black Sea shipping deal. Whether that …

The market is testing the bottom of a range around $3,200 to $3,300 that one broker identified for the January contract in early November. January settled at $3,228 on 4 November, up $18, and the market closed higher in four of five sessions in …

Brent prices waterborne barrels that compete with Middle Eastern supply into Europe and Asia, so the Strait of Hormuz matters more to it than to inland US crude. Thirty-seven vessels were attacked in the area in October, the highest monthly tally since the war …