Weekly Commodity Snapshot
Our overview for wheat, corn, soybeans, sugar, & coffee prices, published weekly.
- The S&P GSCI Agriculture Index rose 0.4% WOW, buoyed by concerns that the grain deal will fall apart. Undeterred by the nascent (albeit pretty poor) US harvest and a surging USD, managed money purchased 263,000 net lots across agri commodities in August and September.
- CBOT Wheat rose 5% this week, while Matif rose 2.6% The sharp rise can largely be attributed to concerns that the grain deal will deteriorate amid recent public criticism of the deal by Russian officials.
- CBOT Soy’s unchanged week is a function of publication timing; on Monday, September 12, a very bullish WASDE lifted prices 5%, to three-month highs of USD 14.80.
- Arabica prices rose 1.9% WOW, as private production estimates for Brazil were lowered following poor weather conditions last year.