Dollar consolidates after correcting off multiyear highs

In the second half of March, the U.S. dollar index spiked to its highest levels since late 2002. The index corrected lower in a six-session slide, finding support near its 20-day moving average. Despite some contrarian views, the dollar clearly remains the world’s preferred [...]

New life for unusual metric? The Waffle House Index

Waffle House restaurants have a reputation as a hardy breed: The average Waffle House is unfazed by bad weather that shutters other restaurants. Even after all but the worst disasters, Waffle Houses are usually open right after with little effect other than perhaps taking [...]

Brazil center-south sugarcane campaign nears end

Brazil’s 2019/20 center-south sugarcane crush campaign will end this month and the 2020/21 campaign will begin in April. For the current campaign, total crush bested last year’s pace at 582.9 MMT of cane through mid-March, up 3 percent YOY, per UNICA. With the sugar [...]

Will COVID-19 decrease sugar consumption?

The COVID-19 pandemic is likely to pressure overall sugar use in countries and regions that have set self-isolation measures, curfews, and lockdowns. Sugar trader Czarnikow cut its estimate for global sugar consumption by nearly 2 MMT on Monday. Demand reductions of as much as 5 percent were suggested for China, Germany, France, Italy, and South Korea. Overall consumption [...]

Mixed moves in February for Food Price Indexes

For February, FAO is reporting its overall Food Price Index (inflation adjusted) down 1.0 percent from January 2020, though still up 8.1 percent from February 2019. Year on year, the individual subindexes are up by high single digits or higher. The one exception is [...]

Will tweaking Mexico sugar import mix reassure U.S. market?

On the same day, Mar. 10, that USDA published a forecast for U.S. sugar stocks-to-use (STU) at 7.2 percent—for those keeping score at home, just a bit over half of the target STU of 13.5 percent—the agency is already taking some steps to reassure [...]

Punxsutawney Phil was right

With the NOAA two-week forecast indicating above-average temperatures across most of the U.S., an early spring appears to be taking shape. With no adverse weather forecast, temperatures should trend 10 to 15 degrees above normal over the next ten or so days, bringing spring-like [...]