Weekly Commodity Snapshot

Report highlights

• The S&P GSCI Agriculture Index fell -5.7% since last week, as some rainfall in the forecast is better than none for the US, despite declining Good/Excellent crop ratings across commodities.
• CBOT Corn’s active contract shed about 6% last week amid signs of rainfall and cooling temperatures. Also, reports that the Biden administration might grant biofuel waivers for struggling refiners took some shine off ethanol and soy oil-rich biodiesel.
• CBOT Wheat prices fell -2.8% last week as an improving US G&O outlook helps ease crop concerns, with much needed rainfall forecasted for spring wheat areas.
• Arabica prices fell -4.7% WOW. The Sep21 contract eased from recent highs to settle around USc 155/lb, with the Brazilian real relatively unfazed this week (unchanged at around 5.05/USD).

Where to go from here

• Agri Commodity Outlook 2021: Bull Waves Don’t Break
• June WASDE: USDA Can't Feel the Heat
• Agri Commodity Markets Sector Team
• Home