United States news

Macadamia crop grows 11%, almond kernels come in small

Global Trading's August tree nut report has the macadamia crop up 11% and pressuring prices, while small first almond kernels push that market higher.

Smaller cashew and pistachio crops meet a macadamia rebound

ofi's July update puts the cashew crop 10% to 12% below last year and the 2026 pistachio crop near half of 2025, while hazelnut supply stays comfortable.

Tight milk sends processors toward cheese and whey

Seasonally tight milk is pushing European and US processors toward cheese and whey, lifting cream and SMP while butter stocks stay at decade highs.

US milk: a summer hiccup or a real shift?

Heat has thinned US milk supply and lifted NFDM, but a growing herd and a wide feed-to-milk margin suggest the tightness fades once Q4 arrives.

Whey protein's climb stalls before Q4 contracting

Reformulation has cut WPC80 demand going into Q4, stalling the climb, while MPC85, lactose and whey permeate tighten across Europe and the US.

US butter, cheese and milk powder prices converge near $1.50

Butter, both cheese grades and NFDM are trading within cents of $1.50 a pound on the CME board, a rare level of convergence.

Egg markets diverge: Europe steadies while the US rally unwinds

Europe's egg market has stopped falling while the US posts its first broad weekly decline of its rally, and egg powder is now pricing off a different cycle.

Wheat prices ease despite an unresolved Black Sea problem

Wheat pulled back this fortnight even though the Black Sea disruption remains unresolved, while corn, barley and soybean each moved on their own drivers.

Cheese prices hold firm through a summer that's usually quiet

Europe's cheese market is holding firm and even edging higher through what's normally a slow season, with buyers already locking in Q4 volumes.

El Niño risk spreads across sugar-growing regions, lifting prices

Sugar futures rose 3.8% as El Niño intensifies, threatening crops in Brazil, India, Thailand and the EU just as the 2026/27 balance tightens.

Bolivia's blockades lift, but diesel shortages keep Brazil nut shipments stuck

Bolivia's road blockades have ended, but diesel shortages and port congestion at Arica are still delaying Brazil nut shipments this season.

Butter and milk powder markets test their stock cushion

Heavy production has left butter, SMP, and WMP stocks well supplied, and the second half of the year will show how much of that cushion gets drawn down.

US churns record butter, but stocks run thin into autumn

US butter output hit a 31-year high for January to May, yet June stocks fell to their lowest since 2022 as cheap prices drove record exports.

Whey and milk protein markets run out of room to sell

Sweet whey, MPC, and lactose have tightened sharply on export demand, while WPC80 trade stays quiet until the Q4 purchasing window opens in mid-August.

Europe's egg prices cool while the US market climbs again

European egg prices keep sliding on soft summer demand while US wholesale prices for large white eggs roughly tripled from early-July lows on tight supply.

Cocoa grindings rise nearly 10%, but prices swing both ways

Global cocoa grindings rose 9.95% year on year, confirming demand is holding, but London and New York futures still fell nearly 9% on the data.

European cheese firms on summer heat, mozzarella still out front

European cheese prices have firmed as summer heat cuts milk output. Mozzarella leads the move while cheddar still looks cheap heading into Q3.

Bullish signals stack up across the vegetable oil complex

Brent, palm, soy, rapeseed and sunflower oil are all firming as energy, tariffs and Black Sea disruption stack bullish drivers across the complex.

Why the commodity outlook now hinges on Hormuz and the AI cycle

The second-half commodity outlook hinges on whether the Middle East conflict resolves and the AI investment boom holds, keeping a higher price floor.

US cheddar closes the gap with New Zealand

US cheddar jumped 10% on the month to $1.60/lb while New Zealand fell to a 20-month low, closing a price gap that opened the year at a record 75 cents.

Gasoil firms on renewed Gulf conflict; biodiesel drifts lower

Fossil diesel snapped higher as conflict around the Strait of Hormuz reignited, lifting the gasoil reference while biodiesel and renewable diesel drifted lower.

Whey protein pauses for breath as lactose keeps firming

Whey protein has paused after an extended run higher as buyers tire at current levels, even as lactose keeps firming on stubbornly tight supply.

Heatwave lifts Euronext corn to a multi-year high

Heat damage puts French corn on course for a 26-year low, lifting Euronext corn to a multi-year high while wheat eases on strong harvest progress.

One heatwave, two egg markets: Europe eases while the US firms

Heat is thinning supplies of large eggs on both sides of the Atlantic, yet European egg prices are falling while US prices firm. Demand is the difference.

From pistachios to peanuts, nut supplies are tightening

ofi's June nut update points to tighter supply: the US pistachio crop could halve, peanut acres are down 21.8%, and almonds are 84.8% sold.

Soybean oil is pricing itself out of the US biofuel mix

Soybean oil's share of US biofuel feedstocks fell to 37% in April as producers switched to corn oil, tallow, and UCO. Vesper's weekly vegetable oils view.

US peanut acres drop 21.8%; supply tightens across origins

USDA puts US peanut plantings down 21.8%. With Argentina's harvest delayed and Brazil's area shrinking, Alimenta Agri sees prices heading higher.

North America paperboard tightens while Western Europe stays soft

Regional paperboard markets moved in different directions through the spring, according to the latest monthly data from EMGE. There was no single global...

Cocoa futures rebound on macro mood, not fundamentals

Cocoa had been one of the quieter commodity markets of late spring. Futures barely moved over the prior fortnight, shrugging off both bearish news in the...

New Sathi crop bends old basmati prices, but the floor holds

The arrival of new Sathi paddy reset India's basmati rice market in early June. May had ended with exporters finding confidence and mills refusing to offer...

European sugar: buyers and sellers dig in on new-crop prices

The market for 2026/27 European sugar has settled into a standoff. Buyers are holding around the €530 mark depending on volume, while sellers are trying to...

WPC80 prices at record levels as new protein demand grows faster than supply

The whey protein market is running an unusual experiment: higher prices are attracting both more supply and more demand simultaneously, with demand growing...

Whey protein tightness drives reformulation toward MPC85 in Q3

The global whey protein market opened the Q3 purchasing window at fresh highs, with WPC80 once again pushing the complex higher and prompting a clear...

El Niño risk reshapes sugar's 2026/27 supply outlook

Raw sugar edged higher this week, supported by Brazil's planned anhydrous ethanol blending rate increase from 30% to 32% (pending formal approval at a CNPE...

Rapeseed market firms after Germany adopts RED III

European rapeseed prices climbed this week, supported by Germany's adoption of Renewable Energy Directive III (RED III) alongside tight EU stocks, strong...

Butter weakens while milk powders climb on record US NFDM pricing

Butter and milk powder markets are moving in opposite directions, with heavy milk flows pressuring butterfat across Europe, the United States and New...

Whey protein prices hold at all-time highs with demand destruction still elusive

Whey protein prices remain at all-time highs across Europe and the United States, with WPC80 and WPI trading above levels where reformulation is already...

European cocoa grindings drop to decade low on weak chocolate demand

European cocoa grindings fell 7.8% year on year in the first quarter of 2026 to 325,895 mt, the lowest quarterly total in more than a decade, according to...

Southeast Asia biodiesel mandates reshape palm oil supply outlook

Three major Southeast Asian palm oil producers are stepping up biodiesel blending mandates in moves that will reshape the feedstock picture for global...

US egg prices fall below production cost while Europe stays tight

The post-Easter global egg market is moving in two opposite directions. US market in oversupply In the United States, supply has rebuilt strongly after last ...

Cheese markets flip from Q1 shortage to Q2 surplus

From shortage to slight surplus Q1 was defined by limited commodity cheese availability as export demand kept volumes moving out of both Europe and the...

Australian beef exports hit near-record volumes in March 2026

Australia's beef export program delivered its second-highest monthly total on record in March 2026, with broad-based demand across key markets driving...

Australian sheep meat exports decline sharply in March as MENA shipments contract

Australian sheep meat exports pulled back materially in March 2026, with total combined lamb and mutton shipments reaching 42,656 tonnes, down 24% year on...

WPC80 shortage drives protein markets into uncharted territory

The global whey protein market is moving in two very different directions. At one end, WPC80 is in a pressing structural supply shortage with no near-term...

Vegetable oil prices ease on ceasefire news, palm oil outlook mixed

A two-week ceasefire agreement between the United States and Iran, announced on April 8, triggered a sharp decline in Brent crude oil, sending immediate...

Cocoa grindings extend decline with chocolate demand under sustained pressure

Cocoa grindings are on track to remain well below historical levels through the 2025/26 season, with the latest data pointing to continued volume pressure...

European cheese markets turn softer at the start of Q2

After a firm Q1 in which strong export demand kept European cheese markets relatively tight, the balance of power is shifting at the start of Q2. High...

Sugar prices edge higher on crude oil rally, but fundamentals stay soft

Sugar prices moved modestly higher this week, driven almost entirely by the sharp rise in crude oil rather than any change in underlying supply and demand...

Global cartonboard demand ends 2025 flat as regional trends diverge sharply

Global cartonboard demand grew by 1% in December 2025, bringing full-year 2025 demand growth to zero, according to EMGE's latest Paperboard Market...

Wheat futures rally, but cash markets tell a different story

Wheat futures rally but basis levels signal a possible correction. Barley exports hit multi-year highs on strong global demand...

SMP market forecast 2026: US production shortfall pulls international buyers toward Europe

The global skim milk powder market has shifted significantly from what was expected at the start of 2026. Rather than a supply-heavy, export-dependent...

Sports Nutrition ingredients forecast 2026: whey protein powders, eggs, sugar, nuts, cooa

The sports nutrition supply chain is under more pressure than it has been in years, and the drivers are no longer just about sports. Demand for whey...

Sweet whey powder forecast 2026: European prices overtake US levels as costs rise and Middle East demand accelerates

Sweet whey powder is showing a clear divide between Europe and the United States in early 2026, and that regional divergence has become the defining feature ...

WPC80 market forecast 2026: Q2 volumes near sold out as demand outpaces supply across all major regions

WPC80 stands apart from the broader dairy complex, with market dynamics driven primarily by demand rather than milk availability. That firm tone is expected ...

WPI price forecast 2026: EU prices approach €25,000/mt as GLP-1 demand adds to supply strain

Whey protein isolate markets are characterised by a persistent supply-demand imbalance, with demand significantly outstripping available production...

Australian beef exports rise as tight US supply boosts demand

Australian beef exports rose 11% year-on-year in February as tight US cattle supply and a 42% price discount for Australian cattle...

Tight skimmed milk powder supply supports global prices

Global skimmed milk powder prices remain supported as limited supply in the US and Oceania meets steady import demand and rising exports...

WPC80 shortage keeps whey market firmly bullish

Global whey markets stay bullish as tight WPC80 supply and strong demand across nutrition and food sectors leave Q2 volumes nearly sold out.

Grain prices rise on Middle East conflict, with wheat, corn and soybeans all moving higher

Grain markets moved higher over the past two weeks, with the Middle East conflict the most significant driver. Wheat, corn, barley, and...

Paperboard markets diverge as Western Europe softens and North America holds firm

Western European cartonboard and containerboard markets continued to soften in November 2025, while North America held firm.

Middle East conflict pushes vegetable oil prices higher as freight costs climb

Brent crude's rise following Iran's closure of the Strait of Hormuz is lifting vegetable oil prices across the board, with freight...

Strait of Hormuz tensions and the short-term outlook for brent crude oil

How Middle East tensions and Strait of Hormuz disruptions impact food commodities through energy prices, fertilizer costs, freight, USD strength and market sent

WPC80 market tightens further as Q2 volumes near sold out across Europe and the US

Whey protein concentrate 80 markets are tightening fast, with Q2 volumes nearly sold out across Europe and the US. Buyers are now...

Soybean prices jump on China trade talks and U.S. crush demand

CBOT soybeans surged to 1,115 cents/bushel as China signals potential increase to 20 MMT purchases. New 45Z rules and December crush of...

U.S. milk powder prices surge 30% in one month on supply squeeze

CME nonfat dry milk prices surged 30% in one month as low November production triggered a short squeeze. Analysis suggests prices may be...

Europe faces Easter egg shortage as Poland loses 5 million laying hens

Poland has lost 5 million laying hens in six weeks, creating severe Easter egg shortages across Europe. Germany faces daily shortages of...

U.S. Treasury's 45Z guidance tilts biofuel policy toward North American crop oils

New 45Z biofuel guidance requires fuels to use exclusively U.S., Canada, and Mexico feedstocks, removing ILUC penalties and supporting CBOT...

Cocoa futures decline 30% in one month as speculators exit and grind data disappoints

Cocoa futures dropped 30% in one month as Q4 grind data showed 8.25% European decline and Ivory Coast faced trader defaults amid falling...

Whey protein concentrate reaches €14,320 per tonne in Europe as structural shortage persists

Skim milk powder reached €2,200/mt in Europe as a short squeeze pushed prices up 10% despite weak long-term fundamentals and surplus milk...

Cocoa prices hit 2-year low as farmgate pricing crisis leaves African beans stranded at ports

London cocoa futures dropped 12% to 3,347 GBP/t as fixed farmgate prices in Ivory Coast and Ghana create supply bottlenecks. European...

European cheese prices hold steady as butter markets collapse, shifting dairy valorization dynamics

Cheese markets hold firm around €3,000/mt despite peak seasonal production, while falling butter prices shift dairy valorization toward...

Paperboard market shows diverging regional trends as operating ratios hit multi-year lows

Global paperboard markets show diverging trends as cartonboard operating ratios reach multi-year lows. Western Europe demand drops 14%...

WPC80 and WPI prices hit record highs on GLP-1 medication demand

WPC80 prices hit €13,000/mt and WPI reaches €21,500/mt as GLP-1 medication demand creates shortages in global whey protein markets.

European butter surplus climbs to 106,000 metric tons

European butter production surged 5.09% in 2025, creating a 106,000 MT surplus. With cream cheap at €5,500/MT and buyers already covered...

Western Europe paperboard demand drops in sharp contrast to other regions

Western Europe's paperboard demand declined sharply in August 2025 while other regions showed stability or growth.

US whey protein concentrate market reaches record prices as spot availability becomes critically low

US WPC80 has become virtually impossible to source as temporary factory downtime creates supply shortage, pushing prices to $6.35/lb while...

Coffee prices climb on tight supply concerns despite favorable Brazilian weather

Coffee futures climbed 13.9 cents this week to 413.55 cents per pound as certified stocks decline and US-Colombia trade tensions threaten...

European WPC80 market empties for Q4 following large volume purchases

European WPC80 market shifts to significantly tight as large purchases clear Q4 supply. Western European producers quote €12,500+/mt while...

Butter, SMP and WMP tip in buyers' favor amid Q4 oversupply

Global dairy markets favor buyers as heavy stocks meet weak demand. Butter, SMP, and WMP prices decline with production costs narrowing...

Whey protein supply runs low as Q4 volumes sell out

Whey protein markets defy broader dairy weakness as Q4 supply dwindles. WPC80 holds above €12,000/mt while WPI tightens further...

Cartonboard markets show regional divergence as capacity shifts reshape supply dynamics

Western Europe and Asia face contrasting cartonboard market dynamics as new capacity and mill closures reshape regional supply.

European cheese markets face downward pressure as supply outpaces demand

European cheese markets face downward pressure with Gouda at €3170/mt and Mozzarella at €3120/mt as buyers shift to hand-to-mouth...

Cheese markets under pressure as European and US spot prices decline

EU and US cheese markets face pressure as buyers delay purchases and spot prices decline across Cheddar, Gouda, Mozzarella varieties.

Rapeseed oil prices increase on Ukrainian export disruptions and strong rival oils

Rapeseed oil rose EUR 20/mt to EUR 1,081/mt as unclear Ukrainian export mechanisms and rival vegetable oil strength provide support.

Global dairy markets plunge as oversupply overwhelms demand across all categories

Global dairy markets plunge as unprecedented milk oversupply overwhelms demand. Analysis of butter crash, SMP weakness, and production cycle implications.

Global dairy markets tumble as demand weakness triggers widespread price declines

Dairy markets face sharp declines as demand weakness triggers widespread selling. Butter approaches critical $2/lb level while milk powder prices fall over 5% a

European cheese markets join widespread dairy price declines as buyers retreat

European cheese markets drive widespread dairy price declines as buyers delay purchases. Cheddar, Gouda, Mozzarella, and Emmental...

Trump tariffs begin in India, with rice, dairy, and tea amongst products impacted

US tariffs of 50% on most imports from India kick in today, affecting key commodities like basmati rice, spices, pulses, tea and dairy.

Dairy fat prices correct lower as milk production increases globally

Global dairy fat prices face downward pressure from record milk production while whey protein markets enter tight Q4 purchasing window.

Coffee futures rally 32 cents in one week amid Brazilian import tariffs

Coffee futures surge to 314.05 cents/lb as 50% US tariffs on Brazilian imports force roasters to restructure supply chains.

Corn oil prices rise $60-130/MT as Middle East tensions drive up energy and shipping Costs

Corn oil prices increase $60-130/MT from June levels, while global corn production reaches record 1.265 billion metric tons.

European cheese prices face summer pressure as trading activity slows

European cheese prices face summer pressure with cheddar at €4,430/mt, gouda at €4,050/mt, and mozzarella at €4,000/mt.

Port congestion hits European hubs while new US trade deals impact supply chains

Rotterdam, Antwerp, and Hamburg experience container delays, while Trump's 15% EU tariff deal reshapes global commodity flows.

Why are U.S. butter prices declining while Europe and New Zealand’s remain high?

U.S. butter prices are under pressure from oversupply, while European and New Zealand markets remain elevated.

U.S.–Japan trade deal secures key win for dairy exporters amid global market pressure

Learn how this deal provides critical relief for U.S. cheese, whey, and lactose producers facing global competition in Japan.

Arabica coffee futures climb 17 cents as tariff concerns and weather risks support prices

Arabica coffee futures climb to 301.35 cents/lb as Brazilian tariff deadline approaches and weather models show potential frost risks.

Biodiesel markets stabilize as "Big Beautiful Bill" reshapes North American feedstock trade

US biofuel law limits feedstocks to North America, challenging Chinese UCO and Brazilian tallow suppliers. LSGO rises $18/mt. Get Vesper's analysis.

European whey markets face demand drought as Chinese buyers return to US suppliers

European whey markets face challenges as Chinese buyers return to US suppliers. Analysis of sweet whey powder, protein concentrates, and trade dynamics.

Global whey markets navigate trade uncertainty as Chinese demand shifts between US and Europe

Latest whey powder market trends as Chinese demand shifts between US and Europe. Expert analysis on WPC80, SWP, and WPI.

US dairy markets retreat from recent highs as seasonal patterns emerge

Latest US dairy market update shows cheese prices pulling back from highs while trans-Atlantic protein spreads remain wide.

Whey markets struggle to find middle ground as trade tensions intensify

Whey ingredient prices hit extremes as trade tensions disrupt markets. WPC80 up 255% in 2 years while lactose, WPI show volatile swings.

Biodiesel market watch week 20: UCO prices under pressure on higher supply to EU

Our Week 20 biodiesel market analysis reveals weakening UCO prices in China and Europe despite 16.8% higher EU imports.

US dairy market weekly: Cheese prices surge amid trade deal developments

Discover how the new US-China trade agreement is driving a $0.12/lb cheese price rally and creating export opportunities for US dairy producers in our latest ma

Global dairy markets face perfect storm: US tariffs, FMD, and supply imbalances

Discover how new US tariffs, China's retaliation, and European FMD cases are reshaping global dairy trade patterns.

Biodiesel markets shaken by Trump's new tariff policies

President Trump's economic emergency declaration introduces tariffs up to 54% on biodiesel imports, threatening Chinese UCO supply chains while creating opportu

Whey protein markets: diverging paths between concentrates and sweet whey powder

Latest whey market analysis reveals supply constraints driving WPC80 and WPI prices, while sweet whey powder buyers remain hesitant ahead of Q2.

How the Dairy Market is Reacting to Foot-and-Mouth Disease in Germany: Impact on Butter, SMP, and WMP Exports and Prices

Explore how foot-and-mouth disease (FMD) in Germany is disrupting the dairy market. Get insights on the impact on butter, SMP, and WMP prices

Cheese Market Update: Prices Fall as Milk Supply Concerns Ease

Cheese prices drop as milk supply stabilizes in Europe and North America. Market outlook predicts price stabilization in early 2025

Weather Drives Volatility in CBOT Soybean Prices: Discover Vesper's AI-Driven Price Forecasts for the Next Six Months

Discover how weather and geopolitical events are impacting CBOT soybean prices, and learn what Vesper's price forecasts are predicting.

Soybean market update: fluctuating weather conditions and robust supply impact prices

Soybean Oil prices fall on CBOT and Vesper Argentina Forward Price Index due to U.S. weather and strong LATAM supply.

High Global Demand Tightens Butter Market, with Cream Prices Hitting Yearly High

Discover the European butter market's challenges: supply shortages, record-high cream prices, and rising global demand tightening the market.

Dairy market insights: Price gaps for butter and powder are decreasing among the major producing regions

Explore the latest dairy market update revealing a significant reduction in butter price gaps across major regions (Europe, Oceania, US).

The whey market: the drivers behind the significant price jump

Discover what's fueling price surges in the European whey market. Gain insights into liquid whey, whey powders, and export dynamics.

EU biodiesel is down w-o-w, Vesper hears large purchases of Chinese biodiesel

Learn about the EU biodiesel dip and Chinese market movements with Vesper. Adapt your trading strategy with our timely insights.

Limited trading activity characterises the UCOME market amidst rising prices

Explore the UCOME market's nuanced landscape with rising prices and limited trading activity. Uncover the impact of low liquidity and increased UCO prices on UC

Vegetable oils navigate mixed trends amid weather-driven volatility

Explore the dynamic shifts in the vegetable oil market as palm, soybean, and sunflower oils react to diverse influences. Discover the rising trends in rapeseed,

Falling veg oils pressure biodiesel outrights

Discover how falling vegetable oil prices are affecting biodiesel outrights. Vesper gives you the insights to adjust your trading approach.

Vegetable oils turn bullish on lower-than-expected US Soybean acreage and stocks

Discover the intriguing turn of events in the vegetable oil market as USDA's report reveals lower-than-expected US soybean acreage and stocks. Explore the impac

Certified sustainable palm oil (CSPO) production increases by almost 6% from last year

Production of certified sustainable palm oil (CSPO) increased by almost 6% last year, according to the Roundtable on Sustainable Palm Oil (RSPO)’s latest...

US ethanol production advances 4.84% in the week to 932,000 barrels per day

Average ethanol production in the United States advanced 4.84% in the week ended October 7 to 932,000 barrels per day, up from 889,000 barrels the previous...

Where will fuel prices go in 2023 with Lula or Bolsonaro?

Whether under Luiz Inácio Lula da Silva (PT) or Jair Bolsonaro (PL), the next president of the Republic will have to deal, in 2023, with a reality of high...

Vegetable Oil Highlights

Palm oil prices took several big hits last week, dropping back to levels we have not seen since before the start of the war between Russia and Ukraine. In...