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(NAFB) – USDA released its May World Ag Supply and Demand Estimates, predicting lower old crop corn ending stocks and that the tight soybean supplies will continue into the new 2021-2022 marketing year. Mike Zuzolo, President of Global Commodity Analytics in Atchison, Kansas, says it looks like USDA is predicting a rebound in domestic and international soybean stocks in the new marketing year.
WASHINGTON: Global prices for raw materials are soaring thanks to a boom in demand due to the recovery from the COVID-19 downturn, coupled with logistical bottlenecks. Copper in the past week hit a 10-year high. Bloomberg’s agriculture Commodity Price Index has climbed 22 percent so far this year to its highest level since 2016, while crude oil has risen 30 percent in the past year. Lumber has tripled over the past 12 months, and the National Association of Homebuilders said that has added $36,000 to the cost of a new house. Tin, used in electronic circuits, automotive components and batte...
Bacon and copper lead commodity price surge 113 WASHINGTON, May 2, 2021 (BSS/AFP) – Global prices for raw materials are soaring thanks to a boom in demand due to the recovery from the Covid-19 downturn, coupled with logistical bottlenecks. Copper in the past week hit a 10-year high, while pork prices have fattened in part due to higher demand for bacon from Americans working and eating breakfast at home. Bloomberg’s agriculture Commodity Price Index has climbed 22 percent so far this year to its highest level since 2016, while crude oil has risen 30 percent in the past year. Lumber has tr...
While much of the trade is focused on the USDA report released Jan. 12, outside factors continue to drive trade in the grain markets.
Volatile markets end 2020 strong with vaccines, stimulus in sight By Naveen Thukral and Gavin Maguire FILE PHOTO: A fisherman rows his dinghy past oil refineries near port terminals in Singapore SINGAPORE (Reuters) -Global commodity markets ended 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the global coronavirus pandemic. Rollouts of vaccines to combat the virus and trillions of dollars’ in fiscal support are expected to boost investment and spending in 2021, spurring demand for raw materials fro...