Weekly Ag Markets Update - Monday, April 12

Weekly US Cotton Futures

Frozen Concentrated Orange Juice and Citrus:FCOJ closed a little higher and held the recent trading ranges on the daily and weekly charts.The demand for FCOJ is said to be weaker.The weather has turned warmer so less flu is around and the increased vaccination pace means that the coronavirus is less.Moderate temperatures are expected for Florida this week.The weather in Florida is good with a few showers or dry weather to promote good tree health and fruit formation.It is dry in Brazil and crop conditions are called good even with drier than normal soils.Stress to trees could return if the dry weather continues as is in the forecast.Mexican crop conditions in central and southern areas are called good with rains, but earlier dry weather might have hurt production.It is dry in northern and western Mexican growing areas.USDA cut it production estimate again but the market did not react much to the news.

Weekly FCOJ Futures

Coffee:  Futures were higher for the week in New York, but still a little lower in London.The London market is trying to form a low on the daily charts.Trends are up on the daily charts in New York.Cash market buyers are not buying much Coffee but offers are not strong from many origins. Vietnam producers are selling some Coffee amid reports of good weather in Vietnam for the harvest.Indonesia has had good weather but has little coffee to sell now.Dry conditions are reported in Brazil again.Trees might get stressed again in the dry weather continues as it is forecast to do.Cooxupe has already said that its members anticipate producing about 32% less Coffee this year due to dry and hot conditions last year and the second year of the production cycle for the trees.Central America is also drier for harvesting but production might have been reduced due to very wet conditions during the growing season.Good growing conditions are reported in Colombia and Peru.Africa is also noting good growing conditions.Good growing conditions are generally reported in Southeast Asia.

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