Holiday weeks and the end of the year in general are notorious for volatility and fewer market participants. Those factors are likely behind the price swings we’ve seen just this past week. Focusing on the longer term, the question is whether funds are done [...]
In the U.S., the nongovernmental American Farm Bureau Federation reports that a meal for ten would cost about $46.90 at the grocery store (not adjusted for inflation). The figure, based on a nationwide survey, is down 4 percent from the estimate of $48.91 last [...]
FAO’s Food Price Index (FPI) for October was up 3.1 percent from the previous month. Year on year, the October FPI was up 6.5 percent. (All figures are adjusted for inflation; the index baseline comes from 2014 to 2016 prices.) Nearly all the price [...]
In the week after the November WASDE, we saw corn inch up and close the week up 13 cents, rising from $4.10 to $4.23 per bushel on the nearby contract. The modest rally was fueled by another strong week for demand, South American weather, [...]
Normally, late fall is the lowest period of milk output for dairy farmers during the year as cows hit their seasonal yield drop. So, this past week’s USDA milk production report with figures through October came as a bit of a surprise, showing milk [...]
After reaching a three-month low at the start of November, Mar-21 NY cocoa pushed higher, finding resistance last week near $2,365 (Fibonacci retracement) and below $2,385 (the 20-day average). The contact fell back below those levels last week but rallied strongly in the last [...]
On Tuesday, Nov. 17, most-active Mar-21 corn futures settled at $4.2675, about 4.3 cents below the recent contract-high and 6.5 cents above the nearby Dec-20 contract. RSI was neutral to bullish at around 62.6 percent today, a six-session low. Fibonacci extension indicates resistance levels [...]
NOPA members reported crushing 185.2 million bushels of soybeans in October, up 15 percent from September, up 6 percent year over year, and beating the previous record volume by almost 4.0 million bushels. Crush topped expectations, which averaged around 176 million bushels and maxed [...]
