Weekly Ag Markets Update - Monday, April 12

Weekly Chicago Soybeans Futures

Weekly Chicago Soybean Meal Futures

Rice: Rice was a little lower on Friday and for the week on what appeared to be speculative selling.USDA released its monthly supply and demand reports on /Friday and demand was cut for both domestic and export needs. Ending stocks were higher and the report was called neutral to negative by the trade. Demand has been solid for exports but less for the mills and this remains the feature of the trade. The export demand has been primarily for paddy Rice and not for milled Rice. The cash market has not felt any increased export demand lately and mill operations are reported to be on the slow side. Texas is about out of Rice, but there is Rice available in the other states, especially Arkansas. Asian and Mercosur markets were steady to lower last week.  New crop Rice is getting planted in Texas and planting is more than three-quarters done in Louisiana. Mississippi is underway but it remains too cold in Arkansas for much planting to get done.

Weekly Chicago Rice Futures

Palm Oil and Vegetable Oils: World vegetable oils prices were higher last week with Palm Oil higher and making new highs for the move. Palm Oil closed higher last week on reports of good demand from the private sources for March and the first part of April. Ideas of tight supplies are still around. The production of Palm Oil is down in both Malaysia and Indonesia. Canola was higher on ideas of tight supplies combined with a drought in the Canadian Prairies. Soybean Oil was higher but closed near the lows of the weekly trading range. Worries about South American production are supporting both markets.

Weekly Malaysian Palm Oil Futures

Weekly Chicago Soybean Oil Futures

Weekly Canola Futures

Cotton:Futures were higher and trends turned up on the daily and the weekly charts. Futures have reacted in a positive way to recent demand news as export sales were increased in the last week.USDA increased export demand and lowered ending stocks levels. Domestic demand was left unchanged. The demand for US Cotton in the export market has been strong even with the Coronavirus causing disruptions at the retail level around the world. The US stock market has been generally firm to help support ideas of a better economy here and potentially increased demand for Cotton products.

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