Key Takeaways:
Ghana’s new law classifies all cocoa plantations as “protected farms,” which carries significant implications for farmers. Chief among these implications is the inability to switch area under cocoa to other crops, even when economic or biological conditions (such as diseased stands) make continued production unattractive. The move comes as Ghana seeks to prevent further declines in cocoa acreage as pressures from illegal mining and other crops (including rubber) offer strong incentives for farmers to move land out of cocoa production. The new law creates other provisions that may ultimately help improve conditions for farmers and spur broader economic development, but the net benefit for farmers is du...
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt, at the end of July, is once again the largest importer of maize from Brazil at about 2.6 million MT from January to July — followed by Iran at 1.1 MMT, Algeria at 665,000 MT, Saudi Arabia at 435,000 MT, and Israel at...
Key Takeaways: Corn and soybean prices rallied sharply last week as declining U.S. production expectations collided with strong demand, raising the prospect of tighter supplies and leaving the market with a smaller margin for further yield losses. The USDA’s lower August yield estimates...
Key Takeaways: The Panama Canal traded at a record $5.3 million for a transit slot this week as line-up times extend to 17 days. The difficulties transiting the Canal are supporting the PNW/Gulf spread. Tanker freight markets remain elevated as the blockade in the Strait of Hormuz continues. I...
