Surging greenback could help press pause on dollar-denominated commodities

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 [...]

Slight break in world food prices in April

In April, FAO’s Food Price Index (FPI) fell slightly from March, possibly a positive sign after strong food price inflation in previous months. Adjusted for inflation, the FPI was 121.8, down about 0.8 percent from prices in March. The FPI was still up 28 [...]

India cumulative sugar production strong, up 14 percent YOY

Cumulative Indian 2021/22 sugar production through April reached 34.24 MMT, up 14 percent YOY and up 23 percent from the five-year average. India cumulative sugar production, seasonal comparison Source: ISMA, McKeany-Flavell On Apr. 8, ISMA updated its forecast for 2021/22 production to 35.0 MMT, [...]

Cold start to spring delays crop progress

Although Mar. 20 was the official start of spring and next week will be the first full week of May, you wouldn’t know that if you were in the Northern Plains over the past month. Multiple late-winter storms have plagued the region, bringing plenty [...]

India 2021/22 sugar production projected stronger at 35 MMT

In a new estimate, ISMA sees total 2021/22 sugar production at 35.0 MMT—some 1.5 MMT above our most recent estimate. The new forecast is based on improved cane tonnage and strong sugar recovery (i.e., sugar content) even though total planted area has not grown [...]

Fresh record high for FAO Food Price Index in March

FAO reported its Food Price Index (FPI) at a new record in March 2022, about 17 percent above its previous high in early 2011 and up nearly 37 percent YOY (unadjusted for inflation). Adjusted for inflation, the FPI was still a record high in [...]

Early forecast out for 2022 North Atlantic hurricane season

Colorado State University (CSU) meteorologists published their first preliminary extended forecast for this summer’s Atlantic hurricane season. La Niña conditions across the equatorial Pacific are seen subsiding and returning to a more neutral ENSO (El Niño Southern Oscillation) baseline, though to favor more constructive [...]

Mexico sugar output surpasses year-ago volume

After rising in the previous three weeks, Mexico estandar reference pricing traded marginally lower in the last week of March. Refined, which has been appreciating more slowly in March, made slight gains last week. Source: SNIIM, McKeany-Flavell Harvest area and cane crush are still [...]

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