Weather, edible oils supply will drive soybean futures

Futures activity Soybean futures rallied last week, driven by weather concerns and impact on yield. Aug-21 soybeans closed Friday at $14.5475 per bushel, up from $14.04 on Monday. Aug-21 soybean meal closed the week at $363.20 per short ton, and Aug-21 soybean oil settled [...]

Finally a break for world food prices?

Adjusted for inflation, FAO’s Food Price Index fell in June by 2.5 percent, ending a 12-month runup for world food prices. The decline came from a strong drop for vegetable oils, down nearly 10 percent from May pricing, and smaller drops for cereals and [...]

Soybeans crash to five-month low

Soybean futures prices fell all last week, plummeting to a five-month low on Thursday’s sell-down to $13.29 per bushel. Continued rumors of EPA changes to biofuel mandates, a more favorable weather outlook for the Grain Belt, and a May crush report below expectations all [...]

Palm oil stocks dwindle on higher use, lower imports

Disappearance of refined palm oil from stocks (an indicator of utilization) for use in edible processing totaled 224 million pounds in March, a pickup from weaker use we saw in January and February. Disappearance in Q1 2021 showed year-over-year growth, but we may not [...]

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 [...]

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 [...]

Soybean & soybean oil markets explode higher

Futures for soybeans and soybean oil lifted off last week just like the SpaceX rocket that took flight Friday in Cape Canaveral. Soybeans rallied to $15.39 per bushel, up $1.06 from Monday to Friday’s close, and have increased $1.55 since Apr. 12. Equally as [...]

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