Weekly Commodity Snapshot
April 2021
Our overview for wheat, corn, soybean, sugar, & coffee prices, published weekly.
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Report highlights
•The S&P GSCI Agriculture Index rose 1.3% last week, as last week’s USDA WASDE report provided more fuel for bulls across grains and oilseeds. Meanwhile, dry weather in North and South Dakota adds weather risks, especially for spring wheat but also for corn and soybeans.
•CBOT Wheat rose 3.7% last week, as the USDA’s bullish global feed demand outlook overshadowed a relatively unchanged US balance sheet.
•CBOT Corn continued to rise, up 4.5% WOW, on the back of shocking March acreage numbers, touching eight-year highs of USD 5.80/bu.
•CBOT Soy fell -1% WOW, after improved Brazilian harvest results and lowered biodiesel mandates eased concerns about supply tightness.
•ICE #11 Raw Sugar rose 5.6% WOW, partially reversing its previous downward trend. The change in mood relates to the stabilization and partial recovery in ethanol prices in Brazil and weather-related concerns.
