Shows
CropGPT - Podcast for CommoditiesHSAT - Approach to DataIn this episode, we explore how HSAT combines advanced data collection, AI, and human expertise to tackle some of the biggest challenges in agriculture. From disease detection in cocoa trees to optimizing sugarcane yields, HSAT’s integrated approach is setting new standards in agricultural predictions. We discuss the use of satellite imagery, economic modelling, crowdsourcing, and statistical models, highlighting how these tools collectively create more sustainable and effective farming practices.Key Topics Covered:The Power of AI in AgricultureWhy AI’s ability to scale matters more than perfect individual accuracy.Example: Detecting diseased trees in a fore...
2025-01-1416 min
CropGPT - Podcast for CommoditiesEDUR - From Farms to FinesThis episode focuses on European Union’s Deforestation Regulation (EUDR) 2023/1115, explaining its scope, key dates, and the compliance process that companies must follow.Businesses dealing with seven major commodities—cattle, cocoa, coffee, oil palm, rubber, soya, and wood—are required to conduct rigorous due diligence to ensure their supply chains are deforestation-free.The episode also covers the three phases of compliance: data collection, risk assessment, and risk mitigation. Additionally, we discuss the role of satellite technology in monitoring deforestation and enforcing the regulation, as well as the potential fines and penalties for non-compliance. Lastly, we’ll look...
2024-09-1710 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 31This week's global sugar market update, for August 4th, 2024, highlights key developments across several major sugar-producing countries:In India, the government has expanded its commodity price monitoring, while sugarcane farmers in Uttar Pradesh demand overdue payments from mills. Additionally, the Food Ministry reduced the domestic sugar quota to stabilize prices. Brazil’s sugar harvest faced delays due to rain, though overall production has increased. In Thailand, crop health varies by region, with some areas expected to see better yields, while Australia’s Queensland region shows promising sugar production prospects. China reports mixed crop health, with some provinces seei...
2024-08-0403 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 31This week’s global maize market update for August 4th, 2024, highlights challenges in key producing regions. In Brazil, regions like Paraná, Rio Grande do Sul, and Mato Grosso do Sul are facing below-average vegetation health, potentially reducing yields, with Paraná and Rio Grande do Sul particularly affected. Mato Grosso shows better prospects. South Africa is expecting a strong maize recovery for the 2024-25 season, with a projected production of 11.5 million tonnes, following a drought-affected previous year. In Ukraine, heatwaves and inconsistent rainfall have led to a decrease in maize yields, with significant reductions expected in both early and late crop...
2024-08-0402 min
CropGPT - Podcast for CommoditiesCropGPT - Coffee - Week 31This week’s global coffee market update for August 4th, 2024, covers key developments in major coffee-producing countries. Colombia maintains a stable pricing structure for coffee through its National Coffee Federation, with reference prices fluctuating based on yield and defect penalties. In Brazil, a favorable dry season has accelerated coffee harvesting, but a reduction in output forecasts highlights the impact of prolonged dry conditions. Vietnam faces a severe drought affecting robusta production, leading to price fluctuations. Globally, the coffee market faces pressures from growing demand and climate change, which threatens both arabica and robusta production, potentially reshaping the market in th...
2024-08-0402 min
CropGPT - Podcast for CommoditiesCropGPT - Canola - Week 31This week's global canola market update for August 4th, 2024, highlights several key developments. Ukraine has seen a significant rise in rapeseed prices due to increased demand and higher harbor costs, though prices have recently decreased, reflecting market volatility. In the European Union, adverse weather conditions have led to downward revisions in rapeseed and sunflower seed harvest forecasts, contributing to concerns over future price increases and market instability. Belarus has completed a successful winter rapeseed harvest, while Russia experiences steady price growth for rapeseed despite challenges in some regions. For more details, visit CropGPT for in-depth re...
2024-08-0403 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 30The global wheat market update for July 29th, 2024, highlights several significant developments. Russia’s early wheat harvest saw strong growth but slightly lower yields than last year, with a forecasted total of 84.2 million tons. Wheat exports, however, fell by 31.4%. In Brazil, delayed wheat planting due to poor rainfall threatens yields. Morocco faces a steep decline in production due to drought, increasing reliance on imports. The U.S. wheat harvest is progressing with varied yields, while Iraq made a record wheat purchase to bolster local production. Ukraine and China face mixed weather impacts on yields, but Chin...
2024-07-2903 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 30The global maize market update for July 29th, 2024, highlights challenges across key producing regions. Ukraine faces a potential 20-30% decline in maize harvest due to extreme heat, impacting pollination and reducing exports. Romania is also struggling with severe drought and high temperatures, which have damaged maize and sunflower crops, prompting a request for EU aid. In Brazil, delayed soybean harvests have led to reduced maize planting, threatening productivity and causing financial losses for producers. The U.S. reported a significant corn sale to Mexico, while Brazil's maize exports dropped sharply due to production setbacks and gl...
2024-07-2903 min
CropGPT - Podcast for CommoditiesCropGPT - Soybeans - Week 30The global soybeans market update for July 29th, 2024, covers a range of regional developments. Ukraine is seeing favorable conditions for soybean cultivation, with central regions benefiting from good soil moisture and radiation, though northern areas are facing sowing delays. In Northern Spain and Portugal, positive weather is supporting soybean growth, with yields meeting or exceeding expectations. Brazil has introduced new planting dates to manage weather risks and control the spread of Asian soybean rust. China's soybean imports from Brazil rose 2.2% in June, despite facing a surplus. In Russia, prolonged rains are hampering soybean sowing in Primorye, potentially r...
2024-07-2902 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 30The global sugar market update for July 29th, 2024, highlights key challenges and developments across major regions. In India, the sugar industry is under severe financial strain due to stagnant sugar prices, export restrictions, and high sugarcane costs. There's advocacy for increasing the Minimum Support Price (MSP) to address the liquidity crunch and improve financial stability. In Brazil, sugar exports surged by 50% in the first half of 2024, aided by favorable weather, though production for the full year is expected to dip. Kenya faces a 32.9% drop in sugar production due to a ban on processing unripe sugarcane, co...
2024-07-2903 min
CropGPT - Podcast for CommoditiesCropGPT - Cocoa - Week 29Welcome to this week's episode of the Cocoa Market Weekly Summary, where we bring you the latest insights and updates from the global cocoa industry. For an in-depth analysis and detailed reports, visit our CropGPT website.Nigeria's Ambitious Cocoa Production Goals:Production Increase: Nigeria aims to boost cocoa production from 340,000 metric tonnes in 2022 to 500,000 metric tonnes by 2025.Investment and Collaboration: Significant investments, improved infrastructure, and partnerships with the International Cocoa Organization and the African Cocoa Fund support this goal.Challenges: The country faces obstacles, including infrastructural deficits, regulatory issues, corruption, and security concerns. Nigeria is focusing...
2024-07-2903 min
CropGPT - Podcast for CommoditiesCropGPT - Cocoa - Week 28The global cocoa market update for July 21st, 2024, focuses on key challenges facing major cocoa-producing countries. In Ghana, smuggling fueled by low government-fixed prices and payment delays is causing significant losses, with organized cartels exploiting the system. Despite a 58.26% price increase in April, smuggling continues to threaten Ghana’s cocoa output. In Ivory Coast, below-average rainfall has impacted cocoa production, though adequate soil moisture is helping crops in certain regions. Nigeria faces a potential $20 billion loss in cocoa exports if it fails to meet European sustainability standards. Lastly, the Congo Basin's cocoa agroforestry pract...
2024-07-2103 min
CropGPT - Podcast for CommoditiesCropGPT - Canola - Week 28Podcast Episode Summary: Global Canola Market Update for July 15, 2024Argentina:Recorded a canola production of 0.32 million metric tons, showing growth from the previous year.The country’s total canola production for June and July reached 4.80 million metric tons and 5.50 million metric tons, respectively, reflecting a strong positive trend in the canola industry.Brazil:Experienced a significant surge in canola production, reaching a record 0.49 million metric tons.Month-wise production saw a steady rise from 0.58 million metric tons in June to 0.81 million metric tons in July, indicating robust growth in the sector.China:Canola production totaled 0.87 million metric tons, reflecting a...
2024-07-2102 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 28Podcast Episode Summary: Global Wheat Market Update for July 15, 2024Chicago Board of Trade (CBOT):Wheat prices saw a positive uptick on July 24, with the CBOT wheat contract rising by 1 1/4 cents, closing at 5.54 1/4. The September 24 CBOT wheat also increased, closing at 5.72, up by 1 1/2 cents.Kansas City Board of Trade (KCBT):Wheat prices here followed a similar upward trend, with the July 24 KCBT wheat contract increasing by 7 1/2 cents, ending at 5.81. The September 24 KCBT wheat saw a slight rise of 12 cents, closing at 5.77 3/4.Minneapolis Grain Exchange (MGEX):Wheat trading at the MGEX remained steady, with both the July 24 and September 24 contracts...
2024-07-1503 min
CropGPT - Podcast for CommoditiesCropGPT - Canola - Week 28The weekly report on the global Canola market for week 28. Brought to you by CropGPT
2024-07-1502 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 28Podcast Episode Summary: Global Maize Market Update for July 15, 2024United States:Maize production is projected to increase by 240 million bushels for the 2024/25 period, with expanded planting and harvested areas. Yield remains steady at 181.0 bushels per acre.Domestic use and exports are expected to rise, with a 75 million bushel increase in both feed/residual use and exports.The U.S. is set to increase maize exports significantly, contrasting with reduced exports from the European Union and Russia.Brazil:Maize prospects are mixed, with varying crop yields due to inconsistent weather patterns, including droughts and untimely rains.Economic surveys highlight...
2024-07-1504 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 28Podcast Episode Summary: Global Sugar Market Update for July 15, 2024India:Sugar sector growth: A top sugar manufacturer in India reported a 357% increase in quarterly profits, resulting in a 20% surge in share prices.The Indian government has lifted stock limits on certain commodities and is compensating farmers affected by flood-damaged sugarcane crops, potentially influencing future production decisions.In Maharashtra, discussions on revising ethanol production policies may shift the balance between sugar and ethanol production, impacting global sugar supply.Domestic sugar prices are unstable due to excess supply and weak demand, though a strong monsoon could stabilize the market and...
2024-07-1503 min
CropGPT - Podcast for CommoditiesCropGPT - Coffee - Week 28Podcast Episode Summary: Global Coffee Market Update for July 15, 2024Colombia:The Colombian National Coffee Growers Federation sets dynamic coffee prices based on NYSE trading figures and includes region-specific premiums. On July 12, 2024, the market price for dry parchment coffee was 1,925,000 Colombian Pesos per 125 kg load, reflecting high global coffee prices.The internal reference price adjusts for exchange rates, yield factors, and quality, ensuring equitable distribution across regions like Bogotá and Santa Marta.Rigorous quality control measures are in place, with discounts for defects, ranging from 20,000 to 88,000 Colombian Pesos based on defect type, reinforcing Colombia's commitment to maintaining high coffee q...
2024-07-1503 min
CropGPT - Podcast for CommoditiesCropGPT - Cocoa - Week 28Podcast Episode Summary: Global Cocoa Market Update for July 15, 2024Ghana's Cocoa Industry Challenges:Ghana is facing severe smuggling issues due to low government-fixed prices and delayed payments. Smugglers are exploiting price disparities, offering more than double the official rates, particularly to farmers from Togo. Despite a 58.26% increase in cocoa prices in April, around 150,000 tons of cocoa were lost last season due to smuggling. These smuggling operations have evolved into organized cartels, posing a significant threat to Ghana’s cocoa output.Ivory Coast Cocoa Outlook:While rainfall has been below average in Ivory Coast, regions like Soubre, Agboville, Divo, an...
2024-07-1503 min
CropGPT - Podcast for CommoditiesCropGPT - Cocoa - Week 27Podcast Episode Summary: Global Cocoa Market Update for July 7, 2024Deficit Projections:Pierre Andurand forecasts a deficit of 650,000 to 700,000 tons this season, largely due to depleted reserves.The International Cocoa Organization estimates a 439,000-ton deficit; Marex projects a 475,000-ton deficit.Cocoa Inventory Decline:ICE-monitored cocoa stocks in U.S. ports reach a three-year low at 3,180,517 bags.Ivory Coast shipments from October to June fall by 29%, with 2023/24 production predicted to drop to an eight-year low of 1.75 million metric tons.Production Shortfalls:Ghana produced only 500,000 tons of an 800,000-ton contract, delaying the remainder to the next season.Ecuador's new plantations may...
2024-07-0704 min
CropGPT - Podcast for CommoditiesCropGPT - Canola - Week 27Podcast Episode Summary: Global Canola Market Update for July 7, 2024Brazil: Canola cultivation in Rio Grande do Sul has surged by 74.35% year-over-year, reaching an estimated 134,975 hectares. Economic incentives and reduced prospects for other crops like wheat and corn have fueled this expansion, with an anticipated yield of 226,557 tons. Despite some challenges—like heavy rain in São Gabriel and uneven emergence in Ijuí—the region overall shows improved cultivation practices.Russia: In Krasnoyarsk, sustainable agriculture is emphasized, with rapeseed oil exports to China rising via container trains. To manage risks, canola cultivation remains capped at 20% of the total sown area...
2024-07-0702 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 27Podcast Episode Summary: Global Wheat Market Update for July 7, 2024Russia’s Wheat Exports to Cuba:Russia achieved a historic high in wheat exports to Cuba for the fiscal year 2023-24, reaching 126,000 tonnes, up from the previous range of 20-40 thousand tonnes.This shift indicates potential long-term changes in trade patterns between Russia and Cuba.Regional Impacts on Russian Wheat Production:Severe drought and extreme temperatures in the Rostov region reduced wheat yields by 15-20% and affected quality.In contrast, the Kuban region saw a record yield of 110 centners per hectare, thanks to improved production strategies and new high-yielding wh...
2024-07-0703 min
CropGPT - Podcast for CommoditiesCropGPT - Coffee - Week 27Podcast Episode Summary: Global Coffee Market Update for July 7, 2024Colombia’s Coffee Industry:The Colombian National Coffee Growers Federation ensures robust pricing for coffee growers based on the New York Stock Exchange’s daily closing rates and foreign exchange fluctuations.Special programs offer bonuses for exceptional coffee, while cooperatives manage costs related to coffee collection.Quality control measures enhance the reputation of Colombian coffee, maintaining its premium status in the global market.Vietnam’s Coffee Sector:Vietnam, the second-largest global coffee producer, faces drought challenges affecting robusta production but continues to thrive through innovative farming and government support.Coffee...
2024-07-0703 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 27Podcast Episode Summary: Global Maize Market Update for July 7, 2024United States:Maize health is declining across 18 key corn-growing states due to persistent heatwaves. Only 67% of crops are rated as good or excellent by June 30. Pennsylvania faces significant drought, with 58% of areas reported as abnormally dry by July 2. The Climate Prediction Center forecasts some relief with average to above-average precipitation for much of the Corn Belt, but northern regions may remain dry.Mexico:With a new agriculture minister, Mexico focuses on maintaining white corn self-sufficiency and reducing deforestation. The government will not prioritize cutting yellow corn imports despite ongoing...
2024-07-0703 min
CropGPT - Podcast for CommoditiesCropGPT - Soybeans - Week 27Podcast Episode Summary: Global Soybeans Market Update for July 7, 2024Brazil:Brazil has significant potential for expanding soybean farming, with 36.6 million hectares of pastureland identified for conversion. The government projects a cautious expansion of around 12 million hectares over the next decade, supported by bank credits. Environmental challenges, such as degradation in regions like the Atlantic Forest and disease control measures, could complicate the expansion process. Additionally, increasing domestic demand for soybean oil could reduce export volumes.United States:The U.S. soybean market is poised for a record yield in the 2024-2025 season, with projections indicating 3.50 metric tons per...
2024-07-0703 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 27Podcast Episode Summary: Global Sugar Market Update for July 7, 2024India:Andhra Pradesh has initiated the payment of 1,000 crore rupees towards 1,600 crore rupees in farming dues, addressing past government payment failures.Uttar Pradesh faces unpaid dues from the previous sugarcane season, leading to financial distress among farmers, with demands for clearance from Bajaj Sugar Mill and Wave Industries.Sugar smuggling concerns to Bangladesh have emerged, impacting the local market.The Indian Sugar and Bioenergy Manufacturers Association (ISMA) advocates for reassessing export policies to balance domestic sugar supply and stabilize the market.Regulatory measures include quota reductions for 106 mills due...
2024-07-0703 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 26Podcast Episode Summary: Global Maize Market Update for June 30, 2024United States: The USDA's June report shows a 3% decrease in corn planted area, totaling 91.5 million acres. Major states like Iowa and Illinois showed stable and reduced plantings, respectively. Total harvested area for grain is projected to fall by 4% to 83.4 million acres, though corn stocks are up 22% from last year at 4.99 billion bushels.Argentina: Maize harvest is progressing quickly, with 49.3% of the crop harvested by mid-June, outpacing the previous year. Southern regions are meeting yield averages, and overall production is forecasted at 46.5 million tons—up 9.5 million tons from last season. Ex...
2024-06-3003 min
CropGPT - Podcast for CommoditiesCropGPT - Soybeans - Week 26Podcast Episode Summary: Global Soybean Market Update for June 30, 2024United States: The USDA’s June report reveals a 3% increase in soybean planted area, totaling 86.1 million acres. Illinois leads with 10.7 million acres, up 3.4%, while Iowa shows a slight decrease at 9.9 million acres. North Dakota shows a notable 9.7% increase, reaching 6.8 million acres, and Indiana's area is up by 4.5%.Brazil: Corteva Agriscience received approval for Utrisha N, a biological nitrogen fixer designed to improve soybean crop health. Soybean and biodiesel sectors showed GDP growth despite some income challenges. Meanwhile, a 90-day planting prohibition in Bahia is in place to prevent the sp...
2024-06-3002 min
CropGPT - Podcast for CommoditiesCropGPT - Cocoa - Week 26Podcast Episode Summary: Global Cocoa Market Update for June 30, 2024Ghana: Cocoa farmers in Ghana are struggling with economic instability, rising production costs, and the devaluation of the cedi, which has dropped over 20% against the dollar this year. Despite a government effort to increase farm-gate prices by 58.26%, many farmers are smuggling cocoa to Ivory Coast to benefit from better prices. Cocoa swollen shoot virus and illegal mining have further impacted production, leading to a $500 million loss in cocoa revenue in early 2024. Ghana’s cocoa board, Cocobod, forecasts recovery to 800,000 tonnes by year-end.Ivory Coast: The world’s top cocoa prod...
2024-06-3003 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 26Podcast Episode Summary: Global Wheat Market Update for June 30, 2024United States: According to the USDA's June report, the total wheat planted area is down by 5% from 2023, totaling 47.2 million acres. Winter wheat dominates, with 33.8 million acres. Notably, Durum wheat acreage has surged by 29%. Acreage reductions in states like Alabama and Colorado reflect economic and environmental pressures, including droughts and floods.Russia: Wheat exports hit a record high, exceeding 50 million tons, but recent hailstorms and floods in regions like Talovsky severely damaged mature wheat crops, reducing yields and necessitating crisis responses.Brazil: Wheat acreage in Paraná rose to 1.15 million hectares, d...
2024-06-3003 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 26Podcast Episode Summary: Global Sugar Market Update for June 30, 2024Brazil: Tereos expects to maintain its sugar production despite severe droughts affecting key sugarcane regions, aiming to process 21 million tons of sugarcane for the 2024/25 season. The El Niño phenomenon is predicted to reduce cane processing by 10 million tons compared to the previous year, but Tereos still plans to produce around 2 million tons of sugar, slightly increasing output from the prior season.United Kingdom: The sugar beet contract price for the 2025-2026 fiscal year will be lower at 40 pounds per tonne due to global sugar market fluctuations. The sown a...
2024-06-3004 min
CropGPT - Podcast for CommoditiesCropGPT - Canola - Week 26Podcast Episode Summary: Global Canola Market Update for June 30, 2024United States: The 2024 canola crop has reached record-high planting areas, with the USDA estimating a 13.6% increase in planted area, totaling 2.6625 million acres. North Dakota leads production, with significant acreage growth also seen in Montana, Washington, and new regions like Idaho, Kansas, and Oklahoma.Canada: Canola planting has expanded to 22.007 million acres, surpassing previous estimates and reflecting Canada’s top exporter status. This increase offsets a decline in wheat planting, which has dropped amid global supply concerns and poor weather in major regions. Soybean planting has also slightly increased, aligning wi...
2024-06-3004 min
CropGPT - Podcast for CommoditiesCropGPT - Coffee - Week 26Podcast Episode Summary: Global Coffee Market Update for June 30, 2024Colombia: The Coffee Federation introduced a new dynamic pricing model that adjusts with the New York Stock Exchange, daily exchange rates, and Colombian coffee premiums. As of June, prices are set at 1,846,000 COP per 125 kg of dry parchment, with incentives for high-quality coffee and quality-based discounts applied for specific defects.Brazil: In May, coffee exports surged by 79.6% from the previous year, bringing in record revenue of $1.017 billion, led by both Arabica and Robusta varieties. Brazil’s market position strengthened due to decreased exports from Southeast Asia. However, logistical challenges, su...
2024-06-3003 min
CropGPT - Podcast for CommoditiesCropGPT - Canola - Week 25Podcast Episode Summary: Global Canola Market Update for June 23, 2024Brazil: Canola is gaining popularity as a winter crop, particularly in Rio Grande do Sul, with increased cultivation expected in 2024. The 2023 harvest saw a significant planted area and a strong yield. However, regions like Frederico Westphalen faced planting delays and challenges due to heavy rainfall and weed competition. Santa Rosa reported favorable conditions, with 90% of planting completed, setting the stage for a productive 2024. Pricing varies based on farm development programs, and phytosanitary measures, including insect monitoring, are being implemented to protect crops.Russia: The country is strengthening its position...
2024-06-2303 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 25 Podcast Episode Summary: Global Maize Market Update for June 23, 2024Ukraine: Maize production is on the rise, with increased cultivation areas compared to 2023. This growth could lead to lower maize prices due to higher supply volumes, boosting Ukraine's position in global markets. However, sustainable agricultural practices are needed to minimize ecological impacts, and the growth could help reduce food insecurity and increase local employment.Brazil: The 'safrinha' maize harvest is progressing quickly, with 21% of the crop harvested by June 2024, the fastest pace since 2013. Favorable weather and early planting have contributed to the rapid harvest, positioning Brazil strongly in the g...
2024-06-2303 min
CropGPT - Podcast for CommoditiesCropGPT - Coffee - Week 25Colombia: The National Federation of Coffee Growers sets coffee prices based on New York Stock Exchange rates, exchange rates, and a national premium. As of June 2024, the benchmark price was 1,846,000 Colombian Pesos for 125 kg of coffee. Prices vary by location and quality, with three defect categories (chemical, fermentation, stale) affecting overall price.Brazil: Coffee exports surged 79.6% in May 2024, reaching 4.39 million bags, boosted by reduced Southeast Asian exports. However, logistical delays at ports in Santos and Rio are impacting efficiency, with 54% of shipments delayed in May. Negotiations are ongoing to resolve these bottlenecks.Ethiopia: Coffee exports reached $1.2 billion over 11 months, with...
2024-06-2303 min
CropGPT - Podcast for CommoditiesCropGPT - Soybeans - Week 25Podcast Episode Summary: Global Soybean Market Update for June 23, 2024Ukraine: Soybean cultivation in government-controlled areas has expanded, signaling potential increases in global supply and downward pressure on prices. Ukraine’s production plays a critical role in global protein and oil availability, impacting market dynamics.Brazil: Projected soybean production is stable at 152.5 million tonnes, with 2024 exports estimated at 97.8 million tonnes, generating $54.1 billion in revenue. Mato Grosso reported a record 1.16 million tonnes of soybeans crushed in May, though trade remains slow due to high production costs relative to market prices.European Union: Forecasts record soybean production at three million tonnes fo...
2024-06-2304 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 25Podcast Episode Summary: Global Wheat Market Update for June 23, 2024Russia: Wheat production faces setbacks from drought and frost, damaging over 1 million hectares. Forecast remains at 86 million tons due to replanting efforts and reduced export duties to stabilize the market.Brazil: Despite drought, wheat planting in Paraná is nearly complete, with 79% of crops rated as good. High wheat prices are sustaining demand.India: Wheat yields are dropping due to rising temperatures, leading to unmet government procurement targets and concerns for domestic supply.Canada: Wheat exports are expected to decline, affected by lower output and international competitiveness.Ukraine: Wheat production i...
2024-06-2304 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 25Podcast Episode Summary: Global Sugar Market Update for June 23, 2024India: Positive outlook for sugar yields in the upcoming Kharif season, bolstered by government support in supply chains and ethanol blending initiatives. Challenges include sugar smuggling near Bangladesh, payment delays to farmers, and continued demands for policy stability. New mills and infrastructure improvements in Banmankhi and Maharashtra aim to boost production and export efficiency.Brazil: Sugar output may decline as more sugarcane is directed to ethanol production due to higher ethanol prices. This trend could impact Brazil's role as a leading global sugar supplier.Germany: Nine states advocate for...
2024-06-2304 min
CropGPT - Podcast for CommoditiesCropGPT - Cocoa - Week 25Ivory Coast: Cocoa exports have been temporarily suspended for June due to crop shortages from poor weather and high fertilizer costs. Production is projected between 450,000 to 500,000 tonnes, down from 550,000 last year. Major processors may need to source cocoa elsewhere, and 40 cooperatives have been suspended for suspected stockpiling. A new marketing overhaul, removing intermediaries and adding traceability, is expected by October 2024.Nigeria: Cocoa export revenue soared 279% in Q1 2024 year-over-year due to a 130% increase in global cocoa prices. However, production capacity faces challenges from underinvestment and structural issues.Ghana: Facing a severe cocoa crisis with poor crop yields and delays, Cocobod may...
2024-06-2303 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 24Global Overview 2023-24 Season Deficit:ISO Projections: The International Sugar Organization (ISO) projects a global sugar deficit of 2.954 million tonnes, an increase from February’s 0.689 million tonnes. Production is revised down to 179.270 million tonnes, while consumption is expected to rise to 182.224 million tonnes.BrazilProcessing and Ethanol Sales: The Southcentral region experienced a 3.36% drop in sugarcane processing in late May 2024 due to unfavorable climatic conditions affecting areas such as Paraná, Mato Grosso do Sul, and Assis in São Paulo. However, sales of hydrated ethanol in São...
2024-06-1604 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 24Global Wheat Market Weekly Summary: Key Highlights for June 16, 2024United States: Winter wheat condition has slightly declined, with 47% rated excellent or good, an improvement over last year’s 38%. Spring wheat stands at 72%, better than last year's 60%. Harvest progress is ahead of schedule, with 12% of the area harvested by June 9, surpassing both last year's pace and the five-year average. However, corn and soybean sowing is lagging, with 95% of the corn area planted and 87% of soybeans, both trailing last year’s figures.Russia: Severe winter frosts have damaged 15-30% of winter wheat crops, causing economic strain, particularly for smaller farms. Emer...
2024-06-1603 min
CropGPT - Podcast for CommoditiesCropGPT - Canola - Week 24Welcome to the weekly summary of the global Canola market for June 16th 2024. For more information on any aspect of this report, please visit the CropGPT website for far more detailed reporting and analysis. In Russia, the rapeseed oil sector is poised for significant growth, expecting to reach an export potential of 2 million tons by 2030. Presently, rapeseed oil is the third most produced vegetable oil globally. Rosstat reports that rapeseed production has doubled since 2015, reaching 2.1 million tons in 2023. The Siberian and Central federal districts, especially the Krasnoyarsk territory, are the primary regions for rapeseed cultivation. The export of...
2024-06-1603 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 24Ukraine: Rising maize production and export areas; exports to India up, but China's down due to fluctuating stocks.Zambia: Drought cuts maize harvest to lowest since 2008; imports allowed, local prices up 18%.Brazil: Mixed outlook; drought impacts Caarap yields, but safrinha harvest in Mato Grosso advances. Exports facing tough competition.USDA: Lowered maize and soybean estimates for 2024-2025; ending stocks expected to be slightly higher.Argentina: Maize area expands to 2M hectares; pests hinder yield. New export route to China opens, driven by demand for animal feed.For more insights, visit CropGPT.
2024-06-1603 min
CropGPT - Podcast for CommoditiesCropGPT - Cocoa - Week 24Global Cocoa Market Weekly Summary: Key Updates for June 16, 2024Nigeria: Cocoa export revenue surged 279% in Q1 2024, fueled by a 130% increase in prices. Despite currency depreciation, exports rose significantly due to global shortages linked to droughts and underinvestment. Nigeria is working to meet EU deforestation-free requirements as the EU is a major market.Ghana: Cocoa output is projected to hit a 22-year low (422,500-425,000 metric tonnes) due to adverse weather, crop diseases, mining, and smuggling. COCOBOD may delay 250,000 tonnes in delivery, doubling cocoa prices and impacting global chocolate production.Ivory Coast: Below-average rainfall threatens mid-crop yields, but farmers are...
2024-06-1604 min
CropGPT - Podcast for CommoditiesCropGPT - Soybeans - Week 24Brazil: Projected to harvest its second-largest soybean crop despite weather challenges. Production estimate lowered to 149.71 million tons due to yield issues in Rio Grande Do Sul, while regions like Mato Grosso anticipate better yields.United States: Higher initial stocks provide a strong start, but soybean processing is down due to high prices and low biofuel demand. Sowing progress is ahead of the five-year average, though slightly behind last year's pace.China: Soybean imports fell 11.6% year-over-year in May, with subsidized imports from Brazil countering logistical issues. Reduction aligns with China's push for agricultural self-sufficiency and deforestation-free sourcing.Paraguay: Positive forecast for 2023/24...
2024-06-1603 min
CropGPT - Podcast for CommoditiesCropGPT - Soybeans - Week 23Global Soybeans Market Weekly Summary: Key Updates for June 11, 2024Brazil (Mato Grosso & Rio Grande do Sul): Soybean acreage in Mato Grosso is set to increase slightly by 0.64% for 2024/25, totaling 12.56 million hectares, while yields are projected to rebound by over 11% to 57.97 bags per hectare. High production costs and lower soybean prices may curb major investment. In Rio Grande do Sul, 94% of the soybean harvest is complete despite weather-related delays and drainage issues, with crop prices increasing to R$123.09 per 60-kg bag. Flooding has caused significant agricultural losses, estimated at R$7.5 billion across soybeans, corn, and rice.Paraguay: StoneX projects...
2024-06-1604 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 23Global Wheat Market SummaryIntroductionHost Welcome: Welcome to the weekly summary of the global Wheat market for June 11th, 2024.Further Information: For more detailed reporting and analysis, visit the CropGPT website.United StatesKansas Winter Wheat:Ongoing drought conditions affecting the crop.USDA reports over 13% of the crop in poor or worse condition.Early spring dry spell stunted plant growth.2024 crop emergence higher than 2023, but condition deteriorated to 34% rated poor or worse.Regional variance: central and western regions facing drought, northeastern regions experiencing oversaturation.Farmers facing decisions on whether to persist...
2024-06-1103 min
CropGPT - Podcast for CommoditiesCropGPT - Canola - Week 23Global Canola Market Summary for June 09th, 2024IntroductionWelcome to the weekly summary of the global canola market for June 09th, 2024.For more detailed reporting and analysis, visit the CropGPT website.Global OutlookRapeseed Meal Trade: Expected significant growth in 2024-2025 driven by record global rapeseed processing volumes.Production Increase: Rapeseed meal production hit 43.9 million tons in 2023, a 13% increase from the previous year.Consumption Projection: Global consumption projected to rise to 44.5 million tons in 2023-2024, with notable increases in India, China, and the European Union.IndiaSales Slowdown: Experienced a...
2024-06-0903 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 23Global Maize Market Summary for June 09th, 2024IntroductionWelcome to the weekly summary of the global maize market for June 09th, 2024.For more detailed reporting and analysis, visit the CropGPT website.BrazilProduction Variations: Different states show varied outcomes in maize production for 2024.Mato Grosso and Goiás: Early planting and favorable climate conditions lead to potentially record-high yields.Eastern Goiás: Some areas affected by dry May weather conditions.North Paraná and Mato Grosso do Sul: Severe production shortfalls due to low rainfall.Nationwide Forecast: Second crop production forecast reduced from 86.6 mil...
2024-06-0903 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 23 Global Sugar Market Summary for June 09th, 2024IntroductionWelcome to the weekly summary of the global sugar market for June 09th, 2024.For more detailed reporting and analysis, visit the CropGPT website.IndiaSeason Closure: Elevated sugar prices driven by domestic and international market forces.Industry Appeals: Seeking policy amendments from the government as the 18th Lok Sabha begins its session.Primary Focus: Increase in Minimum Support Price of sugar.Ethanol Blending Policies: Stability and pricing adjustments anticipated to bolster profit margins.UkraineExport Surge: Sugar exports to the EU surpassed 400,000 t...
2024-06-0902 min
CropGPT - Podcast for CommoditiesCropGPT - Coffee - Week 22latest updates in the global coffee market, with insights from Colombia, the United States, and Vietnam. We'll explore crop intelligence, pricing strategies, regulatory changes, and the impact of climate on coffee production CropGPTColombian Coffee Federation Pricing and Market Mechanism:Base Market Price Guarantee: Implemented by the Colombian Coffee Federation, based on the previous day’s New York Stock Exchange closing quote, current exchange rate, and the differential premium for Colombian coffee.Special Coffee Programs: Additional bonuses for these programs enhance grower incentives.Current Pricing: The closing price for 'C' contract in New York on...
2024-06-0202 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 22Latest updates and trends in the global maize market, focusing on key regions including Brazil, Argentina, the United States, and a broader global context from CropGPTBrazilPositive Crop Health: Overall, Brazil’s maize crop health is favorable.Paraná: NDVI readings are above the long-term average, indicating potential for higher yields.Mato Grosso and Minas Gerais: Slightly above-average NDVI readings suggest reasonable yields.São Paulo and Goiás: Improved NDVI values.Rio Grande do Sul: Lower NDVI values compared to the average.Mato Grosso do Sul: NDVI values are close to the avera...
2024-06-0203 min
CropGPT - Podcast for CommoditiesCropGPT - Canola - Week 22Latest updates and trends in the global canola market, with insights into key regions including Russia, China, India, Australia, and Ukraine from CropGPTRussia: Rostov and Pskov RegionsRostov Region:Rapeseed planting expanded by 22% in 2024, covering 28.6 thousand hectares.Local challenges include climate impacts on crop heat intolerance and winter freeze vulnerability.Despite a government export ban extended until 2024, local processing in Krasnodar mitigates the impact.Pskov Region:An eight-fold increase in rapeseed yield over the last twenty years, revitalizing 200,000 hectares of unused land.New processing facilities launched:PskovAgroInvest LLC: 5,000 tons annual capacity.Svoe...
2024-06-0203 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 22Latest developments in the global grain market, focusing on key regions including Russia, Brazil, the European Union, Australia, India, and China. We'll also discuss overarching global trends affecting the industry from CropGPTRussiaWheat Exports Surge: Russia's wheat exports are projected to exceed 53 million tons annually, with significant exports to EAEU countries, North Africa (Algeria, Egypt, Libya, Tunisia, Morocco), and Asia (Bangladesh, Vietnam, Indonesia).Record Barley Exports: Barley exports are expected to reach 8.6 to 8.7 million tons.Stable Corn Exports: Corn exports remain steady at around 7 million tons.China's Increased Imports: China's grain imports...
2024-06-0203 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 22Latest developments and trends in the global sugar industry, focusing on key regions such as Brazil, India, China, Australia, and Thailand from CropGPTBrazilGrowth in Sugarcane Milling: Early May 2024 saw a 0.43% rise in sugarcane milling in Brazil’s South Central region, totaling 44.75 million tons.Cumulative Milling Increase: By mid-May, cumulative sugarcane milled reached 95.42 million tons, a 19.49% increase from the previous year.Sugar Production Surge: Sugar production hit 5.13 million tons by mid-May 2024, exceeding the previous year's output by 1.05 million tons.Ethanol Production Boom: Ethanol production increased by 16.54%, totaling 4.35 billion liters, with sales volumes up...
2024-06-0204 min
CropGPT - Podcast for CommoditiesCropGPT - Coffee - Week 21Global Coffee Market Weekly Summary: Key Updates for May 26, 2024Colombia: A new market-based purchase guarantee system for coffee farmers links prices to NYSE coffee prices, exchange rates, and Colombian premiums, with quality incentives. Prices for a 125-kg load stand at 1,683,000 Colombian Pesos, with performance-based adjustments. Regional price variations range from 13,451 Colombian Pesos per kilogram in Cucuta to 13,481 in Santa Marta.Brazil: 2024 coffee revenue is forecasted to reach a record 60.99 billion Brazilian Reals, a 23.8% increase from the previous year, driven by Coffea Arabica and Canephora. Gross Value Added calculations reflect economic contributions based on yields and producer prices.Indonesia...
2024-05-2603 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar - Week 21Global Sugar Market Weekly Summary: Key Highlights for May 26, 2024India: The sugarcane sector faces severe water scarcity, especially in southern states, impacting production. Andhra Pradesh has seen a drastic reduction in operational sugar factories since 2014, causing distress among farmers with limited government support. Additionally, sugar smuggling near the Bangladesh border threatens domestic supply and price stability. Despite these challenges, Balrampur Chini Mills Ltd. shows strong corporate performance, and Bihar is working to revive mills to boost local production and employment.Ukraine: Astarta has diversified its sugar exports, now utilizing both sea and overland routes to the European Union...
2024-05-2603 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 21Global Maize Market Weekly Summary: Key Updates for May 26, 2024United States: Corn production for 2024/25 is projected to decrease to 14.9 billion bushels (down 3%), but total supplies will rise to 16.9 billion bushels due to high beginning stocks, the largest since 2017/18. Exports are expected to grow by 50 million bushels, reaching 2.2 billion, bolstered by reduced exports from competitors like Argentina, Brazil, Russia, and Ukraine. Ending stocks will represent 14.2% of usage, the highest since 2019/20, with the average farm price forecasted at $4.40 per bushel, down by $0.25.Ukraine: Total grain exports dropped slightly to 44.4 million tonnes, with corn exports at around 25 million tonnes. Wheat exports...
2024-05-2604 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 21Global Wheat Market Weekly Summary: Key Highlights for May 26, 2024France: Wheat conditions have sharply declined, with 63% of soft wheat rated good or excellent, compared to 93% last year. Durum wheat fares similarly at 64%, down from 86%. Farmers are increasingly switching to corn, though planting is behind schedule at 78% completion versus the usual 96%. These shifts could impact France’s wheat exports as Europe’s top producer.Indonesia: Wheat imports from Russia have surged, with Indonesia importing 1.4 million tons this season, making Russia the third-largest supplier after Australia and Canada. This trade adjustment underscores Indonesia's strategy to diversify wheat sources amid global supp...
2024-05-2604 min
CropGPT - Podcast for CommoditiesCropGPT - Wheat - Week 20Welcome to the weekly summary of the global wheat market for May 20 2024. For more information on any aspect of this report, please visit the CropGPT website for far more detailed reporting and analysis. In Russia, cold snaps have led to a diminished wheat output, resulting in a loss of 3.9 million tons valued at 45 billion rubles. This environmental impact has let Sovecon revise the initial harvest prediction downwards from 89.6 million tons to 85.7 million tons. The breakdown of losses includes 2 million tons less in the Central region, 1.2 million tons less in the South, and 0.7 million tons l...
2024-05-2302 min
CropGPT - Podcast for CommoditiesCropGPT - Maize - Week 20Global Maize Market Weekly Summary: Key Updates for May 20, 2024Russia: In Primorsky, 70% of the corn planting target is achieved, with an expected harvest of 540,000 tons. Currently, 695,000 hectares are cultivated, up 13% from last year. Despite challenges from low temperatures and rainfall, expansion plans to 495,000 hectares are underway, supported by government initiatives aimed at increasing corn and rice production.United States: The 2024/25 corn season forecasts increased supply, usage, and exports, resulting in higher ending stocks. Despite a 3% production decline (14.9 billion bushels), total supplies are anticipated to reach 16.9 billion bushels due to strong beginning stocks. Domestic use and exports are expected...
2024-05-2202 min
CropGPT - Podcast for CommoditiesCropGPT - Sugar Week 20Welcome to weekly summary of the global sugar market for May 20 2024. For more information on any aspect of this report, please visit the CropGPT website for far more detailed reporting and analysis. In India, efforts to enhance the Ethanol Blending Programme (EBP) with a target of 20% ethanol blending are underway, requiring annual adjustments to the Minimum Support Price (MSP), ethanol prices, and Fair and Remunerative Price (FRP). However, concerns regarding pending sugarcane payments and safety issues, highlighted by the incident at Malkapur's sugar mill, underscore risks to liquidity and cane availability. A noteworthy initiative i...
2024-05-2205 min
CropGPT - Podcast for CommoditiesCropGPT -Maize - Brazil and US Impacted by WeatherBrazilProduction Stability and Risk Factors:Maize prices remained stable across various regions despite a generally slow market pace. Notable regions include Rio Grande do Sul, Santa Catarina, Paraná, and Mato Grosso do Sul.There was a significant price dip due to a shift in producer focus and unfavorable weather conditions, impacting both price and production dynamics.The adverse weather also affected the harvest in Rio Grande do Sul, delaying maize harvesting due to soybean crop prioritization and excessive rainfall.The safrinha corn, crucial for the country’s economy, faced threats from dry weather conditions and insect infestations, potentially affecting ove...
2024-05-1303 min
CropGPT - Podcast for CommoditiesCropGPT Sugar - EU Delays and Disease, Thailand Up but with RisksFull Details on Our Site - CropGPTIndiaProduction: Indian Sugar Mills Association (ISMA) reports a production of 314 lakh tonnes with an expected addition of 56 lakh tonnes. The total production for 2023/24 is projected at 320 lakh tonnes.Exports and Domestic Use: ISMA has proposed exporting 20 lakh tonnes to manage surplus and support ethanol blending programs. Domestic consumption is pegged at 285 lakh tonnes.Risks: Pest infestation damaging crops, with the Bhartiya Kisan Union voicing concerns. Additionally, illegal sugar exports to Bangladesh have been seized, highlighting regulatory challenges.European UnionProduction: Farmers in the EU are planting more...
2024-05-1304 min
CropGPT - Podcast for CommoditiesCrude Prices Sugar. Thailand Getting Warmer.Full details on CropGPT India:Sugar production Oct 2023-Apr 15, 2024: 31.09 MMT (-0.5% YoY)Operational sugar mills: 84 (down from 132 last year)Favorable monsoon predictions may boost future productionPolicy shifts expected: MSP and ethanol pricing revisionsFocus on excess sugarcane conversion to ethanolRegional variations: Some exceed expectations, UP faces declinesUkraine:Vinnytsia region: Increased sugar beet sowing, potential yield improvementsKhmelnytskyi region: Surpassed planting area target, additional production potentialBrazil:Southcentral area: Increased sugar and ethanol outputsSugar production (1st half Apr 2024): 710 MT (+31% YoY)CONAB downgrade: 2023-24 estimate to 45.7 MMT (-2.6%)CONAB estimate: 2024-25 production to jump 1.3% to 46.292 MMTThailand:Mixed sugarcane production healthVaried regional impacts: Exceptional y...
2024-05-0603 minCropGPT - Podcast for CommoditiesCropGPT - Thailand Weather May 6thFull details on CropGPTNakhon Ratchasima:Risk-Impact: The largest sugar-growing region faces the highest estimated impact due to extreme heatwave and reduced rainfall.Temperature: Current 7-day rolling average temperature is 33.67 degrees, well above the long-term average of 29.41 degrees.Precipitation: Current 7-day rolling average rainfall is just 0.71 millimetres, a significant drop from the long-term average of 3.63 millimetres.Buri Ram:Risk-Impact: Buri Ram’s sugarcane production is under substantial threat due to intense heat and dry spell.Temperature: 7-day rolling average temperature is 33.91 degrees, surpassing the long-term average of 29.67 degrees.Pr...
2024-05-0601 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Thailand Drought. Brazil Down. India Up -April 29thFull reports available on CropGPT siteIndiaSustainability and Competitiveness: India's sugar industry continues its 10-year roadmap, focusing on sustainability, competitiveness, water management, research and development, technological advancements, and policy frameworks.Domestic Consumption: Heatwaves and elections have led to record-high domestic consumption, driving prices up.Production: Maharashtra exceeds projections, closing the season positively. Overall, India's sugar output from October to April 15 fell by 0.5% year-on-year to 31.09 million metric tons, with fewer mills in operation. 84 mills are still running, compared to 132 last year.Export Restrictions: India's exports are limited to 6.1 million metric tons compared to 11.1 million...
2024-04-2905 min
CropGPT - Podcast for CommoditiesCropGPT - Ivory Coast and Declining YieldsIvory Coast - The Heart of Cocoa Production and Declining YieldsOverview of Côte d'Ivoire's position as the world's leading cocoa producer.Discussion on the annual cocoa production of approximately 2 million metric tons and the country's dominance in the global market.Yield Decline and Contributing Factors:Examination of the decline in cocoa yields in Côte d'Ivoire from 700 kg per hectare in 2000 to around 500 kg per hectare in 2022.In-depth analysis of the factors leading to this decrease:Climate change and its impact on weather patterns, soil moisture, and cocoa tree he...
2024-04-2111 min
CropGPT - Podcast for CommoditiesCropGPT - Understanding the EUDR - Deforestation Free ProductionsIntroduction:In this episode, we dive into the European Union’s Deforestation Regulation (EUDR), which was enacted on June 29, 2023. This critical regulation requires all companies to use deforestation-free products and imposes harsh penalties for non-compliance.Key Topics:Overview of EUDR:The EUDR targets seven primary commodities: cattle, cocoa, coffee, oil palm, rubber, soya, and wood.Companies are mandated to ensure their products are sourced from non-deforested areas and to demonstrate compliance through due diligence processes.Compliance Mechanisms:Detailed description of the due diligence process including Data Collection, Risk Assessment, and Risk Mitigation.Us...
2024-04-2111 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Prices in Decline. India and Thailand UpFull details of the reports can be found on our site. CropGPTRecent Trends in Futures PricesThe sugar futures prices have experienced a downward trajectory on the New York and London exchanges, signaling a shift influenced by diverse global production levels. This update provides an in-depth analysis of the current sugar market dynamics, highlighting regional production variations and their implications for traders.Regional Production InsightsBrazil's sugar sector showcases a robust performance this year, contrasting sharply with the production setbacks in India and Thailand. Despite Brazil's success, the global sugar landscape...
2024-04-1505 minCropGPT - Podcast for CommoditiesCropGPT - Thailand Weather April 15thWelcome to the April 15th 2024 weather report for Thailand's sugar fields. As always in our weather reports we refer to a “risk-impact” score. The risk is the threat to the crop, and the impact is how much crop could be damaged. This score is calculated by mapping the weather to the fields of sugar. Please visit the CropGPT website for far more detailed reporting and analysis. In Nakhon Ratchasima, the significant sugarcane growing area is currently under high risk due to notable weather fluctuations. The 7-day rolling average temperature is 31.66°C, which is higher than the long-term averag...
2024-04-1502 min
CropGPT - Podcast for CommoditiesCropGPT - Ivory Coast and Cocoa ProductionIntroduction:Welcome to our deep dive into the story of cocoa in Ivory Coast, a journey from colonial cash crop to modern market challenges. This episode explores the roots and ramifications of being the world's leading cocoa producer. As always, detailed data and reporting is available on the data, production, yield and pricing is on the CroptGPT siteThis episode it taken from this articleSegment 1: Roots of the TradeOverview of cocoa's introduction to Ivory Coast during the French colonial era in the late 1800s.The initial p...
2024-04-1415 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Price Increase, Thailand and India Exceed Expectations. April 8thWelcome to the weekly summary of the global sugar market for April 8th 2024. For more information on any aspect of this report, please visit the CropGPT website for far more detailed reporting and analysis. In India, the sugarcane industry and ethanol production are experiencing significant growth. The Indian Sugar Mills Association forecasts a bumper crop of 340 lakh tons of sugar for the current season. However, after accounting for the ethanol production, the net availability of sugar is expected to be around 320 lakh tons. The country's commitment to the Ethanol Blending Program, as seen with the inauguration o...
2024-04-0803 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Futures Increase, Dollar and Oil Impact Production - April 1stWelcome to weekly summary of the global sugar market for April 1st 2024. For more information on any aspect of this report, please visit the CropGPT website for far more detailed reporting and analysis. Sugar futures experienced a significant increase this Thursday on the New York and London exchanges. The most actively traded raw sugar contract on the New York Stock Exchange closed at 22.52 cents per pound, marking a 1.49 point increase for the day, reaching a high of 22.59 cents and a low of 22.06 cents. At the same time, in London, the principal sugar contract rose b...
2024-04-0104 minCropGPT - Podcast for CommoditiesCropGPT - Thailand Sugar Weather - April 1stWelcome to the April 01 2024 weather report for Thailand's sugar fields. As always in our weather reports we refer to a “risk-impact” score. The risk is the threat to the crop, and the impact is how much crop could be damaged. This score is calculated by mapping the weather to the fields of sugar. Please visit the CropGPT website for far more detailed reporting and analysis.In our comprehensive analysis of the current weather conditions across key sugarcane-producing regions in Thailand, we turn our focus to Suphan Buri, Nakhon Ratchasima, and Kanchanaburi, examining the implications of recent weather patter...
2024-04-0103 minCropGPT - Podcast for CommoditiesCropGPT - March 25th - Pricing Dipped- EAEU Production Up 13%Wecome to the weekly summary of the global sugar market for March 25 2024. For more information on any aspect of this report, please visit the CropGPT website for far more detailed reporting and analysis. On the global sugar market front, Friday saw a notable downturn as sugar prices dipped alongside a surging dollar index, reaching a five-week zenith. The movement unleashed a wave of long liquidations in sugar futures, with May NY World Sugar 11 (SBK24) observing a setback of 0.21 (0.95%) and May London ICE White Sugar 5 (SWK24) declining by 1.10 (0.17%).This fluctuation c...
2024-04-0104 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Thailand Weather - March 25thWelcome to the March 25 2024 weather report for Thailand's sugar fields. As always in our weather reports we refer to a “risk-impact” score. The risk is the threat to the crop, and the impact is how much crop could be damaged. This score is calculated by mapping the weather to the fields of sugar. Please visit the CropGPT website for far more detailed reporting and analysis.Let us now turn our attention to the latest weather conditions across three pivotal sugarcane producing regions in Thailand, assessing their potential impact on sugarcane yields, and consequently, on sugar production and marke...
2024-04-0104 minCropGPT - Podcast for CommoditiesCropGPT - Prices Up - Conflicting News in IndiaWelcome to weekly summary of the global sugar market for March 18 2024. For more information on any aspect of this report, please visit the CropGPT website for far more detailed reporting and analysis. In the latest trading developments, the global sugar market experienced a modest uptick as futures in both May New York and London markets concluded the week on a high note. The London market, in particular, marked a two-week peak, buoyed by several contributing factors.A significant factor influencing the sugar market this week has been the notable u...
2024-03-1804 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Thailand Weather - March 18thWelcome to the March 18 2024 weather report for Thailand's sugar . As always in our weather reports we refer to a “risk-impact” score. The risk is the threat to the crop, and the impact is how much crop could be damaged. This score is calculated by mapping the weather to the fields of sugar. Please visit the CropGPT website for far more detailed reporting and analysis.Across Thailand's key sugarcane-producing areas, the prevailing weather conditions are ushering varied impacts on crop production, presenting a mixed bag of challenges and some relief. Starting with SuphanBuri, the province is enduring a warm...
2024-03-1803 minCropGPT - Podcast for CommoditiesCropGPT - Prices Down on Weather and RealWelcome to the weekly summary of the global sugar market for March 11 2024. For more information on any aspect of this report, please visit the CropGPT website for far more detailed reporting and analysis. In recent developments within the sugar market, futures experienced a notable decline in response to moderate rain forecasts in Brazil, leading to a drop by 0.6% in New York and 1.1% in London. This weather-related shift prompted traders to sell off sugar futures, reflecting the market's sensitivity to climatic conditions in key producing regions.Adding to the landscape of global sugar production, the International Su...
2024-03-1104 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Thailand Weather - March 11thWelcome to the March 11 2024 weather report for Thailand's sugar fields. As always in our weather reports we refer to a “risk-impact” score. The risk is the threat to the crop, and the impact is how much crop could be damaged. This score is calculated by mapping the weather to the fields of sugar. Please visit the CropGPT website for far more detailed reporting and analysis.For the remaining sugarcane production locales, an overarching risk-impact score is being monitored closely. Unusual weather patterns have presented a mixed bag of climatic conditions, impacting sugarcane growth phases differently across regions. It's...
2024-03-1101 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Price Down, ISO Predicts Product DownThis is a summary - the full details are on our CropGPT siteLarge delivery for March NY sugar contract (1.3 MMT, second-largest ever) signals demand issues, pushing prices down.Brazil's sugar production surged (+1051% y/y to 27,000 MT in early February, +25.6% y/y to 42.158 MMT through mid-February), with a higher percentage for sugar than ethanol production.International Sugar Organization (ISO) increased its global sugar deficit estimate for 2023/24, boosting prices temporarily. India and Thalaind sugar1 is expected to fall/ India dropping 15.3% year on year. Thailan is projected to fall by 32% year on year Over...
2024-03-0404 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Brazil Weather - March 4thWelcome to the March 04 2024 weather report for Brazil's sugar fields. As always in our weather reports we refer to a “risk-impact” score. The risk is the threat to the crop, and the impact is how much crop could be damaged. This score is calculated by mapping the weather to the fields of sugar. Please visit the CropGPT website for far more detailed reporting and analysis.In São Paulo, the preeminent sugarcane region faces the gravest risk due to unfavorable weather conditions which could significantly hamper yield. The region is currently experiencing slightly warmer conditions with a 7-day a...
2024-03-0403 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Thailand Weather - March 4thWelcome to the March 04 2024 weather report for Thailand's sugar fields. As always in our weather reports we refer to a “risk-impact” score. The risk is the threat to the crop, and the impact is how much crop could be damaged. This score is calculated by mapping the weather to the fields of sugar. Please visit the CropGPT website for far more detailed reporting and analysis.In an analysis of current weather patterns and their implications on sugarcane cultivation across key regions, we observe a diverse range of impacts that are essential for traders to consider.Focus...
2024-03-0402 minCropGPT - Podcast for CommoditiesCropGPT Sugar - WTO, Thailand and Brazil. India and Ethanol - Feb 26thCropGPT Podcast Show Notes - February 26, 2024Welcome to the CropGPT Podcast, where we dive into the latest developments in the agricultural sector with a special focus on the sugarcane and sugar markets. Today's episode features key stories from Thailand and India, discussing updates on pricing, World Trade Organization (WTO) agreements, production challenges, and farmers' pay.India's Sugarcane and Sugar Update:Tamil Nadu's Production Decline: A decrease in sugar production by 1 lakh tonnes due to operational challenges and a slight dip in the sugar recovery rate to 8.90%.Shift Towards...
2024-02-2604 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Australia Weather - Feb 23rdWelcome to the February 23 2024 weather report for Australia's sugar fields. Turning our attention to Queensland, the linchpin region for sugarcane production in Australia, it's imperative to assess the current weather conditions, gauging their potential impact on sugarcane yields. The region's risk-impact is paramount, given it's the principal geography for sugarcane within Australia. Scrutinizing the recent weather data, we observe a slight deviation in temperature and precipitation norms that could influence crop productivity. Looking into the specifics, the current 7-day rolling average temperature stands at 24.95 degrees. This reading is marginally below the normal average of 25.7 degrees for...
2024-02-2302 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Thailand Weather - Feb 23rdWelcome to the February 23 2024 weather report for Thailand's sugar fields. Turning our attention to the sugarcane cultivation areas across Thailand, we delve into an analysis of the current weather conditions and their potential impact on sugar production, a key commodity in the global markets.In Sukhothai, we observe a risk-impact rating that is significantly affected by the region's prominent sugarcane cultivation, with current weather conditions posing a notable risk. The one-week rolling average temperature is observed at 26.29 degrees, slightly below the long-term average, indicating cooler conditions which may impact sugarcane growth. Precipitation levels are exceedingly l...
2024-02-2303 minCropGPT - Podcast for CommoditiesCropGPT Sugar - India Weather - Feb 23rdWelcome to the February 23 2024 weather report for India's sugar fields. In Maharashtra, the prominent sugarcane region is currently under the spell of warmer and drier than usual conditions, elevating its risk to the crops. The temperature here averages at 26.07 degrees over the past week, slightly above the historical norm of 24.92 degrees. This period is not as hot as 2016, which saw a peak of 26.47 degrees, but the notable absence of rain, mirroring the driest known period in 2020, emphasizes the heightened risk to sugarcane production. Turning our attention to Uttar Pradesh, this region also faces a high ris...
2024-02-2302 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Brazil Up Pushing Prices Down - Despite India and Thailand Feb 18thIn this episode, we delve into the recent developments in the global sugar markets, focusing on the factors driving sugar prices to four-week lows and the broader implications for traders and the sugar industry. Our analysis will cover the surge in Brazil's sugar production, changing global production forecasts, and the impact of weather patterns on sugar crops. Here's what we discuss:Brazil's Production Surge: We examine the sharp increase in Brazil's sugar production, particularly in the Center-South region, and how this is influencing global sugar prices. With a 68.5% year-over-year increase in the second half of January and a 25.5...
2024-02-1905 minCropGPT - Podcast for CommoditiesCropGPT Sugar -India and Thailand Challenges - Feb 12thIntroduction:This episode looks at the pressing challenges and significant developments within the global sugar and ethanol markets, with a keen focus on India, Thailand, Brazil, and China. From India's struggles with its ethanol blending targets to Brazil's remarkable increase in sugar exports, we explore the intricate dynamics shaping the soft commodities markets today.Key Topics Covered:India's Ethanol Blending Predicament: An analysis of India's efforts to meet its ambitious 20% ethanol blending target by 2025-26, examining the obstacles posed by vehicle compatibility issues and feedstock scarcity. We discuss the potential of FlexFuel Vehicles and...
2024-02-1204 minCropGPT - Podcast for CommoditiesCropGPT Sugar - Thailand Weather - Feb 12thIn Ubon Ratchathani, the impact score is very high, due to the scale of sugar production. The recent rain, 1.59 millimetres is an increase of 17 times compared to the previous years 0.09 millimetres. But, that only 1.5 millimetres more as an absolute value, so its not a high risk. The weekly average temperature is stable at 25.48 degrees Celsius, close to the long-term average of 25.54 degrees Celsius. NOTE: The coldest week for sugarcane farming in this region was in 2004, with an average temperature of 21.32 degrees Celsius, much lower than this week's temperatures. The crop health score, or NDVI...
2024-02-1201 minCropGPT - Podcast for CommoditiesCropGPT Sugar - WASDE Report - Mexico Down. US Down. Demand Down - Feb 8th 2024In the 2023/24 cycle, Mexico's sugar industry encounters formidable challenges. The estimated production stands at 4.875 million metric tons, reflecting a decrease of 141,000 metric tons since the last month and 349,248 metric tons less than the previous year. This downturn is primarily attributed to the sluggish pace of the sugarcane harvest, a situation that is unprecedented in recent history. As of February 2, critical production metrics, including yields and sucrose recovery rates, are significantly below the 10-year averages, with no immediate signs of improvement. A notable factor contributing to this slowdown is the unseasonably late rainfall experienced across the country, with the...
2024-02-0805 minCropGPT - Podcast for CommoditiesCropGPT - Introduction to the Podcast and the PlaformCropGPT: The AI-powered podcast for sugar insightsCropGPT uses satellite, weather, and crop data to provide unique and accurate analysis of the global sugar market.What is CropGPT?CropGPT is a podcast that delivers the latest news and insights on the production of sugar, using an entirely unique data set and methodology. It is driven by billions of data points and petabytes of data including satellite images, weather, crop data, and hundreds of thousands of field visits. It is then analysed by AI to create reports and predictions. Cr...
2024-02-0802 min