Oil supply to increase, US corn acreage up, sugar production falls in Brazil

From Investing.com: 2025-07-01 01:34:00

Energy markets are anticipating another significant supply increase from OPEC+ for August, with expectations of a 411k b/d boost, totaling nearly 1.8m b/d since April. The group’s strategy shift suggests a continued trend of large supply increases, aiming to bring back 2.2m b/d by the end of Q3, well ahead of schedule.

USDA updates 2025 acreage estimates, projecting higher corn acreage at 95.2m acres and lower soybean plantings at 83.4m acres. Wheat planting estimates were also trimmed. Quarterly stocks report shows corn inventories at 4,644m bushels, soybeans at 1,008m bushels, and wheat at 851m bushels, impacting market expectations.

UNICA’s report reveals a decrease in cane crushing and sugar production in Central-South Brazil, with a 21.5% drop in crushing over the first half of June. Sugar production fell 22% YoY, with 51.5% of cane allocated to sugar production. Cumulative sugar production for the season stands at 9.4mt, down 14.6% YoY.



Read more at Investing.com: Oil Pullback Deepens With Growing Surplus Risks