key commodity report - bpaa.com€¦ · 170.95168.27; 130.40-4.18%; 25.61% 1.1045; 1.10651.3543;...
TRANSCRIPT
358.40 348.35 358.57 373.45 2.89% -4.03% 859.7 841.4 986.0 992.7 2.17% -13.40% 330.44 328.42 317.31 321.46 0.62% 2.79% 0.2827 0.2790 0.3269 0.3386 1.33% -16.51% 12.01 11.93 10.33 12.42 0.63% -3.30% 526.75 500.20 436.66 480.25 5.31% 9.68% 1.444 1.339 1.557 1.469 7.91% -1.64% 1.515 1.537 1.579 1.719 -1.43% -11.84% 14.17 14.23 14.88 15.50 -0.42% -8.56% 2.255 2.249 2.081 2.635 0.24% -14.42%
1.128 1.111 1.210 1.189 1.58% -5.10% 1.730 1.635 1.759 1.919 5.77% -9.86% 0.5612 0.5612 0.4562 0.6370 0.00% -11.90% 1.8036 2.0750 1.4067 2.6663 -13.08% -32.36% 1.1100 1.1500 1.2316 1.4700 -3.48% -24.49% 77.00 77.00 67.02 80.00 0.00% -3.75% 30.55 31.25 36.07 35.00 -2.24% -12.71% 1.160 1.380 0.912 1.004 -15.94% 15.54%
68.80 68.96 43.32 48.35 -0.23% 42.31% 202.70 202.70 127.08 148.18 0.00% 36.79% 322.00 323.90 230.22 250.70 -0.59% 28.44% 283.10 286.50 214.03 231.20 -1.19% 22.45% 2.766 2.749 2.549 2.935 0.62% -5.76%
1.1676 1.1682 1.1068 1.1691 -0.05% -0.13% 1.3127 1.3118 1.3568 1.3078 0.07% 0.37% 0.7402 0.7402 0.7438 0.7962 0.00% -7.03% 1.3103 1.3178 1.3265 1.2491 -0.57% 4.90% 6.789 6.728 6.639 6.746 0.91% 0.64% 0.994 0.997 0.985 0.956 -0.33% 3.88%
25.38 25.26 27.62 25.33 0.48% 0.20% 163.80 170.95 168.27 130.40 -4.18% 25.61% 1.1045 1.1065 1.3543 1.3785 -0.18% -19.88%
* Used as the indexing unit of measure for this exchange rate
CME Group
CornSoybeanSoy Meal
vs. Last Year7/16/2018
July 30, 2018
7/23/2018 This Week
Last Week YTD Avg Last Year
vs. Last Week
Commodity Activity - Weekly Average
Soybean Oil
Market Commentary
*Euro
Canadian DollarChinese Yuan
Source: Federal Reserve Bank of New York
ICE Futures
Sugar 16
CoffeeSource: Intercontinental Exchange
Swiss Frank
*British Pound
Orange Juice
Wheat Rough Rice
Heating Oil No.2 Spot
Cheddar BarrelCheddar BlockMilk Class III
Source: CME Group
USDA Weekly Prices
Palm Oil
Butter AA
On Highway Diesel
Live Cattle
Pork Bellies
*Australian Dollar
Eggs Large MW
Course Ground BeefLive Hog
Federal Reserve
Chicken Breast Jumbo MW
On Highway GasolineNatural GasSource: New York Mercantile Exchange
Crude Oil
Crude Peanut Oil
Source: USDA
NYMEX Futures & Retail
Key Commodity Report Weekly
Commodity Information: Commodity information found in this report is publically available. It can be found from numerous sources, all of which are noted. This report is for general informational purposes only. You should not rely upon the material or information in this report as a basis to make any hedging or buying decisions. Sysco makes no representations or warranties of any kind, express or implied, about the completeness, reliability, suitability, accuracy, or availability of the information contained in this report for any purpose and any reliance placed upon this information is done strictly at your own risk. Please note that rounding can affect the percent of change values.* U.S. Currency Index compares the U.S. Dollar
1.99
2.01
2.03
2.05
2.07
2.09
U.S. Currency Index
0.250.270.290.310.330.350.370.39
26
36
46
56
66
JanuaryFebruaryM
archAprilM
ayJuneJulyAugustSeptem
berO
ctoberN
ovember
Decem
berJanuaryFebruaryM
archAprilM
ayJuneJulyAugustSeptem
berO
ctoberN
ovember
Decem
berJanuaryFebruaryM
archAprilM
ayJuneJulyAugustSeptem
berO
ctoberN
ovember
Decem
berJanuaryFebruaryM
archAprilM
ayJuneJulyAugustSeptem
berO
ctoberN
ovember
Decem
ber
Soybean Oil & Crude Oil Relationship
Crude Oil Soybean Oil
26
36
46
56
66
76
86
JanuaryFebruaryM
archAprilM
ayJuneJulyAugustSeptem
berO
ctoberN
ovember
Decem
berJanuary
FebruaryM
archAprilM
ayJuneJulyAugustSeptem
berO
ctoberN
ovember
Decem
berJanuary
FebruaryM
archAprilM
ayJuneJulyAugustSeptem
berO
ctoberN
ovember
Decem
ber
Crude Oil - Average Weekly Price - NYMEX
330 340 350 360 370 380
This Week
Last Week
YTD Avg
Last Year
Corn
1.40 1.45 1.50 1.55 1.60 1.65 1.70 1.75
This Week
Last Week
YTD Avg
Last Year
Cheddar Block
0.00 0.50 1.00 1.50
This Week
Last Week
YTD Avg
Last Year
Coffee
Commentary: A couple of things happened last week to boost the price of agricultural commodities. One, the U.S. government has enacted a $12 Billion dollar safety net for farmers to directly protect them from the sharp decline of futures. Two, the U.S. agreed to remove tariffs on steel and aluminum so the European Union has agreed to buy more soybeans, etc. The futures for the entire soybean complex then rose, as did corn, wheat, and rice. So this was good news for farmers. It did raise futures prices, so not good news if you are a buyer, unless you were paying attention and took action. There is much more room to the upside of this market, but I will caution you, that trading commitments show a substantial amount of short contracts for soybean oil. In other words, there is still room to the downside. More good news is that weather has been fine and the crop looks good for beans and corn. We are now entering the pod filling stage for beans. This is the critical time for soybeans. The more beans are filled, the more meal and oil we have and the greater bushels per acre for the farmer. Canola is also in the pod filling stage. Canada has been a bit dry, but their drought resistant seed will provide a better than average crop. Crush margins for Canola are suffering a little, so farmers are making it up by selling seed to the Chinese. This activity will slow down, but the farmers are getting hit a little. Palm oil has fallen quite a bit. Malaysia has increased production and soybean oil has put mounting pressure on palm.
Term DefinitionUSDA United States Department of Agriculture
Chicago Board of Trade (CBOT)Trading platform where many commodities are bought & sold. Now known as the CME Group.
CME Group
Chicago Mercantile Exchange and CBOT mergedto create the CME Group. The largest trading platform globally.
Basis A premium or discount to the futures marketBoard Current futures price.Bull A trader who thinks the market will trend higherBear A trader who thinks the market will trend lowerShort A term used to identify selling a commodity or derivativeLong A term used to identify buyin a commodity or derivativeFront Month Current futures trading monthBack months Any trading month beyond the front month
Futures Contract
A legally binding agreement to buy or sell a commodity or financial instrument at a later date pursuant to the Rules of the Exchange
Forward Contract
A private, cash-market agreement between a buyer and seller for the future delivery of a commodity at an agreed price. In contrast to futures contracts, forward contracts are not standardized and not transferable.
Carryover Last year's ending stocks of a storable commodity
CorrectionWhen the market makes a full about face moving by 10% or greater
RetracementWhen the market makes an about face, but not as strong as a correction
CWT Centum Weight or 100 weight
Backwardation
A term used mostly in energy trading referring to inverted futures where prices currently are higher than in deffered months.
Long Refers to buyingShort Refers to selling
WASDE ReportRefers to the USDA World Agricutural Supply & Demand Estimates
Metric Tonne 2,204 pounds
Renewable Fuel Standard (RFS)
Congress created the renewable fuel standard (RFS) program to reduce greenhouse gas emissions and expand the nation’s renewable fuels sector while reducing reliance on imported oil. This program was authorized under the Energy Policy Act of 2005 and expanded under the Energy Independence and Security Act of 2007. https://www.epa.gov/renewable-fuel-standard-program
bpa bushels per acre
Corn - CBOT Weekly Futures Price
300
320
340
360
380
400
420
440Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Corn - CBOT Average WeeklyPrice - Dollars / Bushel
2018 2017 2016 Average
Soybeans - CBOT Weekly Average Price - Dollars / Bushel
750
850
950
1050
1150
1250
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Soybeans - CBOT Average WeeklyPrice Dollars / Bushel
2018 2017 2016 Average
Soybean Meal - CBOT Weekly Average Price - Dollars / US Ton
250
300
350
400
450
500
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Soybean Meal - CBOT Average WeeklyPrice Dollars / U.S. (short ton)
2018 2017 2016 Average
Soybean Oil - CBOT Weekly Average Price - Cents / Pound
0.255
0.275
0.295
0.315
0.335
0.355
0.375
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Soybean Oil - CBOT Average WeeklyPrice - Cents / Pound
2018 2017 2016 Average
Wheat - CBOT Weekly Average Price - Dollars / Bushel
350
400
450
500
550
600
650
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Wheat - CBOT Average WeeklyPrice - Dollars / Bushel
2018 2017 2016 Average
Barrel Cheddar - CME Average Weekly Price / Pound
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
2Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Barrel Cheddar - CME Average Weekly Dollars per Pound
2018 2017 2016 Average
40 LB Block Cheddar - CME Average Weekly Price / Pound
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
2
2.1Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Block Cheddar 40 #- CME Average Weekly Dollars per Pound
2018 2017 2016 Average
Milk Class III - CME Average Weekly Price CWT
12
13
14
15
16
17
18
19
20Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Milk Class III- CME Average Weekly Price cwt
2018 2017 2016 Average
Butter AA - CME Average Weekly Price lb
1
1.5
2
2.5
3
3.5
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Butter AA- CME Average Weekly Price lb
2018 2017 2016 Average
Live Cattle - Average Weekly Price USDA - 6 State Average
0.95
1.05
1.15
1.25
1.35
1.45
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Live Cattle - Average Weekly Price
2018 2017 2016 Average
USDA Coarse ground 81% Steer & Heifer Source
1.400
1.600
1.800
2.000
2.200
2.400
2.600Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
USDA Coarse ground 81% Steer & Heifer Source
2018 2017 2016 Average
USDA Live Hogs - Average Weekly Price
0.22
0.27
0.32
0.37
0.42
0.47
0.52
0.57
0.62
0.67Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Live Hogs - Average Weekly Price - Iowa/Minnesota
2018 2017 2016 Average
USDA PM Belly, Derind 9-13# FOB Plant
0.75
0.95
1.15
1.35
1.55
1.75
1.95
2.15
2.35
2.55Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
USDA PM Belly, Derind 9-13# FOB Plant
2018 2017 2016 Average
Chicken - Midwest Jumbo Boneless/Skinless Tender Out
1.02
1.12
1.22
1.32
1.42
1.52
1.62
1.72Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Midwest Jumbo Boneless/Skinless Breasts Tender Out
2018 2017 2016 Average
Shell Eggs - White Large, Midwest
0.5
1
1.5
2
2.5
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Shell Eggs - White Large, Midwest
2018 2017 2016 Average
USDA Weekly Price - Crude Peanut Oil
50
55
60
65
70
75
80
85
90Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
USDA Weekly Price - Crude Peanut Oil
2018 2017 2016 Average
Weekly Price - Cash Palm Oil
25.00
30.00
35.00
40.00
45.00
50.00
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Weekly Price - Cash Palm Oil
2018 2017 2016 Average
Crude Oil - Average Weekly Price - NYMEX
27
32
37
42
47
52
57
62
67
72Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Crude Oil - Average Weekly Price - NYMEX
2018 2017 2016 Average
Heating Oil - Average Weekly Spot Price - NY Harbour
80
100
120
140
160
180
200
220Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Heating Oil - Average Weekly Spot Price - NY Harbour
2018 2017 2016 Average
Diesel - Average Weekly Highway Price
180
200
220
240
260
280
300
320
340Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Diesel - Average Weekly Highway Price
2018 2017 2016 Average
Gasoline Unleaded - Average Weekly Highway Price
170
190
210
230
250
270
290
310Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Gasoline - Average Weekly Highway Price
2018 2017 2016 Average
Natural Gas Futures - New York Mercantile Exchange
1.7
2.2
2.7
3.2
3.7
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Natural Gas Futures - New York Mercantile Exchange
2018 2017 2016 Average
Sugar #16 - New York Board of Trade (ICE)
22
24
26
28
30
32Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Sugar #16 - New York Board of Trade (ICE)
2018 2017 2016 Average
Orange Juice - (OJ) NYBOT ICE Weekly Price - Dollars per CWT
100.00
120.00
140.00
160.00
180.00
200.00
220.00
240.00Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Orange Juice - (OJ) ICE Average Weekly Price
2018 2017 2016 Average
Coffee - (KC) NYBOT Average Weekly Price - Dollars per Pound
1.0000
1.1000
1.2000
1.3000
1.4000
1.5000
1.6000
1.7000
1.8000
1.9000
2.0000Ja
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Coffee - (KC) NYBOT Average Weekly PriceDollars / Pound
2018 2017 2016 Average
Foreign Exchange Rate - Euro, EMU Members
1.04
1.06
1.08
1.1
1.12
1.14
1.16
1.18
1.2
1.22
1.24
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Foreign Exchange Rate - Euro, EMU MembersFederal Reserve Bank of New York
2018 2017 2016 #REF!
Foreign Exchange Rate - Canadian Dollar
1.1
1.15
1.2
1.25
1.3
1.35
1.4
1.45
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Foreign Exchange Rate - Canadian DollarFederal Reserve Bank of New York
2018 2017 2016 Average
Foreign Exchange Rate - Australian Dollar
0.65
0.67
0.69
0.71
0.73
0.75
0.77
0.79
0.81
0.83
0.85
Janu
ary
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dece
mbe
r
Foreign Exchange Rate - Australian DollarFederal Reserve Bank of New York
2018 2017 2016 Average