NOPA members crushed over 171 million bushels last month, up 1 percent from April and setting a new record for the month. Oil yield was especially strong, which allowed oil production to post a 6 percent year over year gain in production. Industry watchers [...]
Futures activity The meal piece of the soy complex showed the greatest strength last week, with Jul-22 meal futures closing the week up $23 per short ton at $438.10. Conversely, soybean oil futures came under pressure, with the Jul-22 contract closing at $0.7379 per [...]
ERS estimates inflation for selected food price indexes in the U.S. was 1.0 percent in April vs. March, with inflation for food at home at 1.3 percent that month. Eggs saw double-digit inflation, up 10.3 percent from March and up 22.6 percent YOY. Dairy [...]
FAO’s Food Price Index (FPI) was reported down over half a percent in May, adjusted for inflation, the second straight monthly decline. May’s FPI was still up 20.8 percent YOY, supported by significant gains across all subindexes. Food commodities showing the most significant YOY [...]
Futures activity The soy complex, in particular soybean oil, took strength off rallying crude oil prices last week, with spot soybean oil futures settling over 81 cents per pound yesterday and today, a 2.3-cent per pound rally on the week. S&D and fundamental factors [...]
Following production and shipment exports stemming from the COVID-19 pandemic, some countries adopted restrictions or additional duties on exports of some food commodities. In 2022, poor weather and crops and the fallout of the Russian invasion of Ukraine have now prompted additional export bans, [...]
Futures activity Jul-22 soybean meal recovered nearly all losses from recent weeks to close at $429.90 per ST. The matching soybean oil contract closed below its week high to settle on May 23 at $0.8093 per pound. S&D and fundamental factors U.S. soybeans were [...]
Interest rates were increased by 50 basis points in an early-May Fed meeting, and there was strong insinuation the move would be followed by another hike of 50 points at the June meeting and perhaps several more later this year. Higher yield is attracting [...]
