Weekly Commodity Snapshot
Our overview for wheat, corn, soybean, sugar, and coffee prices, published weekly.
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- ICE Arabica continued to gain, rising 6% WOW as the scramble for certified stocks continues. Managed Money turned net long in ICE Arabica for the first time since August 2017, as certified stocks continue to fall.
- CBOT Wheat fell -0.7%, as the deteriorating trade war rhetoric weighs on CBOT despite good export demand and wheat supply tightness.
- CBOT Corn firmed: up 2.5%, as Non-Commercials unwound positions amid concerns of planting delays and tightening stocks in Brazil. Negative news on the trade war drove some soy-corn spread betters to unwind their positions.
- The CBOT Soy complex was mostly lower last week, with CBOT Soy Oil (-1.25%) leading the decline, breaking below USc 30/lb, on the back of a strong NOPA crush report and lack of concrete trade deal progress.