USDA reported food inflation of 0.8 percent in August, putting prices last month up 11.4 percent YOY. Year to date, all food inflation is up 8.2 percent from last 2021. The major categories showing the highest YTD change in 2022 include fats and oils, [...]
On Friday, Sep. 26, the most active Dec-22 NY cocoa contract closed below the lower Bollinger Band and prior retracement support below $2,290. The contract traded lower still Monday to a fresh low of $2,243 and tested key psychological support around $2,200 on additional [...]
U.S. trade partners appear to be holding off buying 2022/23 corn: Sales were a mere 182,339 MT during the week of Sep. 15 (7.2 million bushels), well below average for the week. Outstanding sales to Japan were 854,000 MT as of Sep. 15, compared [...]
Monday’s USDA milk production reports for August showed an abundance of milk and dairy cows for the market to absorb. Not only were the previous month’s figures revised higher, but the August total showed continued growth in the herd, with over 11,000 heifers more [...]
Hurricane Ian is forecast to be the first named storm to make U.S. landfall this season. Meteorologists believe that Ian could be a Category-3 hurricane by the time it reaches Florida’s Gulf coast. Besides rain and sustained high winds, Ian could bring a storm [...]
Futures activity Soybean oil prices were hit hard Friday, falling 2.20 to 2.80 cents per pound. Jan-23 futures closed at a two-week low of 62.82 cents per pound. Spot soybean oil (Oct-22) is now around 67 cents per pound. S&D and fundamental factors The [...]
Production dipped to its lowest weekly rate since Feb. 26, 2021, when the average was 849,000 barrels per day. It was also the lowest weekly production in September since 2020, when the industry was still trying to pull out of the COVID freefall. Other [...]
Mexico sugar reference prices seem to be showing post-harvest strength, pulling up further from a year ago. At the end of August, available sugar stocks were 1.288 MMT vs. 1.405 MMT a year prior. Total 2021/22 exports through August reached 1.586 MMT, up 46 [...]
