Cost of Thanksgiving meal rises again in 2022

The cost of ingredients for a ten-person Thanksgiving meal hit a new record this year, as estimated through the American Farm Bureau Federation’s survey. The 2021 cost was a record $53.31 ($5.33 per person), and the estimated 2022 cost surpassed at $64.05 ($6.41 per [...]

FAO Food Price Index down for seventh straight month

Adjusted for inflation, FAO’s October Food Price Index (FPI) fell by 0.1 percent from August, the sixth straight monthly decline. Year on year, the index is up about 0.3 percent—a minor difference compared to the double-digit YOY growth seen from early 2021 through July [...]

Soybean oil pushes higher with crude oil

Futures activity Nov-22 soybean futures closed higher Friday, up $0.25 at $14.52 per bushel. Dec-22 soybean meal rallied on Friday, Oct. 28 but was still down for the week, closing at $420.40 per ST. The likewise soybean oil contract ended last week up nearly [...]

Food prices up 11% YOY in September

September’s U.S. Food Price Index rose 0.7 percent from August, with the highest growth again seen for prices of food from home, up 0.9 percent that month. Fats and oils, fresh vegetables, and sugar and sweets saw the fastest gains month on month. For [...]

Not much world buying of U.S. soybean oil

The 2022/23 U.S. soybean oil export season has seen its slowest start to a marketing year since FAS began reporting weekly progress in 1990. Outstanding sales were a mere 27,900 MT (61.5 million pounds) as of Oct. 20, while cumulative shipments totaled 3,989 MT [...]

World Food Price Index down for sixth straight month

Adjusted for inflation, FAO’s Food Price Index (FPI) fell 1 percent in September, the sixth straight down month. Year on year, the September FPI was up nearly 4 percent—significant, but a vast change from growth in 2021. The 2021 FPI was up 26 percent [...]

Trapped in a commodity market funhouse?

Maybe the funhouse seemed like a harmless way to spend a warm afternoon at the corn carnival (we all call the corn market that, right?): You knew your market’s fundamentals, so how about a little thrill-seeking among gently distorted market factors? You knew logistics were [...]

Soy oil, meal futures decouple from soybeans

Futures activity Nov-22 soybean futures ended last week at $13.9550 per bushel, up about $0.10 per bushel from the beginning of the week. After a Thursday rally, Dec-22 soybean meal closed the week at $417.90 per short ton. Dec-22 soybean oil also ended the [...]

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