Tapajos river level in Miritituba port, the main corridor for grains at the North of Mato Grosso. The water level is dropping by 10 cm per week. Last year the level was 150 cm higher.

economist.com/business/2024/…

Indian govt repeals ban on use of cane juice and B-molasses for fuel ethanol production. Govt will still "periodically review" diversion of sugar into ethanol. Expect further lobbying for an increase in fuel ethanol prices from cane juice and B-molasses?

#Brazil, officially, at the worst #drought since data started to be collected in 1950, according to local media #agriculture #coffee #sugar #grains #weather www1.folha.uol.com.br/cotidiano/2024…

Opening call from NHC is a Cat 1 into SW Louisiana, but the cone extends on the Texas coast and into eastern Louisiana. More from me earlier: theeyewall.com/a-tropical-sto…

[CORRECTION] First day of the annual APPEC oil conference in Singapore, and the commentary is downbeat. Oil traders Vitol, Trafigura and Gunvor are all signaling very well supplied markets. Trafigura, more typically a bull, sees risk of dropping into the "$60s" soon #OOTT

#ISMAConference2024 #Speaker Eder Vieito, CEO, Green Pool Commodities specialists looks forward to discuss global sugar and s&d dynamics at the 2nd edition of the India Sugar & Bio-Energy Conference 2024. Don’t miss out on this incredible opportunity. Register today.

Gone the way of the enormous current year surplus, one might guess?

Indian #wheat prices hit an all-time high this week, soaring to ~$390/mt. 📈🌾 [Waiting for another publication inspired by local millers that the country needs to ditch import taxes ⏳] #oatt #sizovreport #india

NY11 COT – Last week saw sizeable position changes in sugar with heavy volume. Index funds very active, sold 38 k lots outright. Spec net position rose 34 k to 140 k lots. Commercials cut their net short to a multi-year low of 50 k lots. Since Jan 21 Mar 25 price gained 138 pts

Torrential rain across Australia’s northern areas has caused some major flooding of cane fields, while further south some rain has been welcome. It will take time to assess damage in the north, where additional hazard has been spotted – crocodiles venturing into flooded areas.

Having contracted 9.3 bln L for fuel ethanol use during 24/25 EBP (Nov/Oct), OMCs are working to allocate 1.6 bln L of Rice based ethanol and 51 mln L of C-molasses ethanol. Distilleries are getting Rice at a fixed price of INR 2,250/mt, ex-warehouse.

Indian oil marketing allowed distilleries to switch feedstock (from existing to rice) for fuel ethanol already contracted for supply between Feb and Nov 25. Timely as the rise in domestic sugar prices makes ethanol from cane-based feedstocks less attractive for mills.

It has been more than 50 years since a cyclone made landfall south of Fraser Island. Nancy in 1990 was a glancing blow and numerous, eg Oswald, brought flooding as ex-cyclones. #CycloneAlfred #cyclone

Moody's lowers Brazil outlook to stable - reuters.com/world/americas…