Weekly Commodity Snapshot
Our overview for wheat, corn, soybean, sugar, & coffee prices, published weekly.
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- The S&P GSCI Agriculture Index rose 3% last week, as robust export demand and positive Covid-19 vaccine results help lift commodity markets.
- The magic beanstalk continues to rise. CBOT Soybeans broke six-year highs to reach USD 11.70/bu, as rationing risks from US soy stocks, at 190m bu, and seven-year lows drive nervous consumer coverage.
- CBOT Wheat was mostly unchanged WOW despite testing support levels at USc 600/bu and USc 590/bu, as weather remains mixed.
- Arabica prices rose 8.3% WOW as Hurricane Iota slammed into Central America yesterday, bringing with it ferocious wind and rains. US green coffee stocks fell 265,000 bags MOM and 14.5% YOY, to 6.14m bags, in October.