Weekly Commodity Snapshot
Our overview for wheat, corn, soybeans, sugar, & coffee prices, published weekly.
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• The S&P GSCI Agriculture Index rose 0.25% last week. Despite overall market weakness in light of the probable default by Evergrande, ags were mixed overall, but appeared to take the volatility in their stride.
• CBOT Wheat prices rose 1.4% last week, seeing good support above USc 700/bu, led by good demand from importers. US export sales for 2021/22 picked up to 617,000 metric tons.
• CBOT Corn saw a brief breakout attempt above USD 5.25/bu, but failed last week as US harvest progressed and concerns mounted around the key US export window.
• CBOT Soybeans continued to lose traction below USD 13.00/bu, as the market’s attention shifted from supply to demand and revealed woefully inadequate US 2021/22 export sales and crush pace.