Spot #11 world raw sugar looked to consolidate at the end of the week—and ahead of the holiday weekend—above its recent low of 18.13, a 14-month low. Early Brazil center-south sugar production is up 66 percent YOY, presumably helping pressure world pricing; India should be expected to mostly stay out of the world market. In the U.S., beet planting in the top states should have been finished by this week, ahead of plantings in recent years.

China’s demand for U.S. soybeans declined drastically in the week of May 16. Out of the total soybeans recorded for exports, China’s share was 2 percent. 

Spot Jul-24 CBOT SRW wheat tested fresh nine-month highs on Friday, May 24 but did not seem likely to beat psychological resistance around $7.00. Jul-24 KC HRW wheat looked to set an eight-month high above $7.19, presumably supported by the potential for smaller crops from key world origins and possible higher biofuel demand for corn.

Meteorologists expect an intense Atlantic hurricane season. Crude oil production on the Gulf coast is likely to be affected by the forecasted storms. Records from previous years show that crude oil prices peak with the occurrence of a massive hurricane on the Gulf. 

This report summarizes a small sampling of the information available on our IQ Ingredient Intelligence platform. Further insights, statistics, analysis, and pricing information for these commodities and others are available to IQ subscribers.

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Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.