Food Price Index jumps 38% above year-ago levels

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 [...]

Midwest rains expected to pick up in late June

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 [...]

Summer heat underpins natural gas market

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 [...]

WASDE & weather maintain volatility in corn market

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 [...]

NY cocoa ends four-day slide with minor rebound

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 [...]

June WASDE: Corn exports & ethanol demand up notably

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 [...]

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