Adjusted for inflation, FAO’s Food Price Index was up nearly 38 percent YOY in May on gains across all subindexes. The Index as up nearly 5 percent from April, the highest monthly gain since January 2015. (Not adjusted for inflation, it would be the [...]
NOAA’s two-week outlook calls for above-average rain and below-average temperatures in most of the Grain Belt, which should be favorable for developing corn and soybean crops. Expected rains have put some pressure on prices even as above-average temperatures dried out soils during the past [...]
The June WASDE report offered almost no new information for sugar. The only change made to 2020/21 supply and demand estimates was a 50,000 ton reduction in other program imports that resulted in a 50,000 ton reduction in stocks and carried into the 2021/22 [...]
Sizzling summer temperatures sent the mercury well into the 90s for regions of the U.S. over the past week, boosting demand for power as air conditioners were working overtime. The Twin Cities saw seven consecutive daytime highs well into the 90s, and much of [...]
The corn market reversed course on Friday after a bullish WASDE Thursday, with futures trading lower by double-digits. Jul-21 corn futures—at least thus far—haven’t been able to push past recently established highs, arguably creating a scenario for short-term technical weakness. The July and December [...]
At the end of May, benchmark Sep-21 NY cocoa consolidated below its 20-day moving average but saw a four-day slide from last Wednesday to this Monday’s one-month low. After breaking support around $2,445 Monday and closing near its lower Bollinger Band, the contract rebounded [...]
In the June WASDE, USDA lowered its 2020/21 corn ending stocks to 1.107 billion bushels, down 150 million bushels from the May figure and well below industry expectations. The drop in stocks was caused by 2020/21 U.S. exports and ethanol demand each rising by [...]
As expected, U.S. soybean export sales and shipments have been very slow this spring, well below their seasonal averages. For the week of May 27, sales and shipments both notched new lows for the marketing year and saw their smallest volumes for the week [...]
