Weekly Commodity Snapshot
Our overview for wheat, corn, soybean & coffee prices, published weekly.
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Report highlights
- The S&P GS Agriculture Index rose 3.3% WOW, propelled higher by the lower-than-expected USDA acreage report, higher energy prices, and heat and crop risks across the US.
- CBOT Corn rose 4.2% WOW, with US 2020/21 corn acreage at 92m acres – 3.1m acres below the average trade estimate and 5m acres below the USDA March estimate.
- CBOT Soybeans rose 4.8% WOW, mainly on the back of the USDA acreage report, warm weather, and as Chinese purchases continue. However, the relationship between the US and China remains volatile.
- Arabica prices fell -1.8% WOW, as weather concerns eased in Brazil, along with concerns of the impact of Covid-19 on the Colombian harvest, with Colombian registered production for June rising 11% YOY.
