Inflation in commodities heating up

Two releases from the government this past week stoked fears of inflation rising faster than previously forecast, with both CPI and PPI numbers exceeding expectations. Seasonally adjusted, the Consumer Pricing Index (CPI) was up 0.8 percent in April and up 4.2 percent over the [...]

Corn prices retreat after first glimpse of 2021/22 crop

After a six-week rally, corn futures prices calmed down last week, showing a week-over-week decline for the first time since late March. Jul-21 futures fell from $7.32 per bushel to $6.43, a drop of 89 cents per bushel on the week. New-crop 2021/22 corn [...]

Mexico sugar market updates, cane grower blockades, & the peso

Mill warehouses remain under the control of cane growers, though the CNC grower group maintains that this campaign, intended to preserve sugar pricing, did not hinder milling or processing at any facility. Given that cane pricing is calculated based on wholesale sugar pricing, growers [...]

No change to 2020/21 soybean export estimate

USDA left all the 2020/21 soybean S&D numbers unchanged in yesterday’s WASDE, including 2020/21 exports at 2.28 billion bushels. The initial forecast for 2021/22 exports is 2.08 billion bushels. This season’s cumulative exports as reported by FAS seem right on track to hit the [...]

WASDE: New-crop corn & soybean forecasts are here

In the May WASDE, 2021/22 corn production is forecast at 14.990 billion bushels on 91.1 million harvested acres and yield of 179.5 bushels per acre (bpa). Yield is in line with expectations, but the industry expected new-crop area and production to be higher. New-crop [...]

Ample cocoa stocks & spec selling send cocoa to six-month low

The first half of the midcrop is off to an auspicious start, with weekly arrivals far outpacing last season’s pace. In the most recent week, cumulative arrivals into both Abidjan and San Pedro were estimated around 50,000 MT vs. only 19,000 MT a year [...]

Old-crop soybeans press beyond $16 per bushel

The price climb seen in agricultural contracts last week was nothing short of impressive and also stressful for buyers of commodities. For the week, May-21 soybean futures rose by over $0.50 per bushel with just a few days before the contract’s expiration. Jul-21 soybean [...]

World Food Price Index up for 11th straight month

Adjusted for inflation, the FAO Food Price Index (FPI) was up 2 percent from March, up slightly from the 12-month average growth of 1.7 percent. This increase was supported by robust gains for the sugar, meat, and oils subindexes, although every category appreciated in [...]

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