Fueled by unsustainable high dairy product prices, herd continues to grow

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 [...]

Corn prices eclipse $7 per bushel

Futures activity A bullish WASDE report last Monday pushed spot corn futures above $7 per bushel for the first time in two months, hitting $7.12 per bushel on that day’s close. S&D and fundamental factors Monday’s WASDE report was in line with expectations in [...]

Mexico sugar pricing ticks higher in September

In the week of Sep. 12, reference sugar prices ticked slightly higher, up half a percent for estandar and up 0.8 percent for refined from the prior week. Source: SNIIM, McKeany-Flavell Average estandar pricing dipped 0.1 percent in August, while refined pricing rose by [...]

Sharp drop in palm oil imports during July

The U.S. imported just 51,647 MT of refined palm oil in July, down 56 percent from June and the lowest monthly volume since October 2010. The sharp slowdown in imports may be a response to the recovery in U.S. refined palm oil stocks as [...]

FAO Food Price Index falls to seven-month low

Adjusted for inflation, FAO’s Food Price Index (FPI) fell 1.9 percent from July to a seven-month low but was still up 6% YOY. This is a change from prices in July, up 11 percent YOY, and from May and June prices, up 20 percent [...]

Soybeans close higher on positive economic data

Futures activity Following a day of significant strength and approaching cash market convergence, Sep-22 soybean futures closed last week a bit weaker than it started at $15.105 per bushel. Nov-22 futures closed at $14.205 per bushel. S&D and fundamental factors StoneX raised their forecast [...]

Commodity ingredient intelligence

We hope you have been finding our In the Know blog both useful and informative. But did you know that our IQ Ingredient Intelligence platform provides multiple daily commentaries on a variety of commodity and ingredient markets? In addition, the platform offer access to [...]

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