World food price in August the lowest since February 2021

FAO’s Food Price Index (FPI) fell 2.1 percent in August to 116.7 (adjusted for inflation), down 13.3 percent YOY and its lowest level since February 2021.  Among the component indexes, only the sugar index rose in August, up 1.3 percent from July.  The cereal [...]

Consumer price index for foods up 7.1% YOY

The Consumer Price Index (CPI) for food rose 0.3 percent in July and was reported up 4.9 percent YOY, per ERS. Food away from home is reported up 7.1 percent YOY, with inflation for food at home half that at 3.6 percent. (Note that [...]

NOPA July crush increases, above average expectations

July 2023 soybean crush was above analysts’ expectations: Soybean crush increased for the month of July with about 173.0 million bushels crushed in July 2023, due to seasonal maintenance and repairs at processing plants. This year has recorded the highest July soybean crush since [...]

June CPI up 0.1% for all food down 0.1% for food at home

ERS estimated the Consumer Price Index (CPI) for all food up about 0.1 percent in June, nearly flat on a minimal drop of 0.1 percent in the price of food at home mostly offset by a more aggressive appreciation of 0.4 percent for prices [...]

Soy complex rallies from weather concerns

Spot soybean oil (Jul-23 futures) continued to rally, up nearly 14 cents over the last two weeks. Nov-23 soybean futures are up $1.38 per bushel this week, the highest since mid-March. Soybean exports reached 5.2 million bushels last week, total shipments are on pace [...]

Food price index up 0.6% in April for the first time in 13 months

Adjusted for inflation, FAO’s Food Price Index (FPI) for April rose 0.6 percent from March—the first monthly increase in 13 months. The sugar and meat subindexes were the cause of this monthly increase. April’s FPI was still down 21.1 percent YOY. For the year [...]

Weather risk premium reenters soy complex

Spot soybean futures rose 30 cents last week. New-crop soybean futures continued to hover near two-year lows. Soybean oil prices rose about 1.5 cents per pound last week. Argentina’s low soybean crop projections are falling further. Abandoned acres could be historically high, above 5 million [...]

USDA debuts 2023/24 world oilseed forecasts

Global oilseed trade is forecast to increase 1 percent due to soybean import demand offsetting lower rapeseed and sunflower seed imports. Slowing economic growth in China and the EU, growing domestic oilseed production, and South America’s continuing expansion of soybean-planted farmland are likely to [...]

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