Key Commodity Report - bpaa.combpaa.com/portals/0/documents/KeyCommodityReportWeekly080620… ·...
Transcript of Key Commodity Report - bpaa.combpaa.com/portals/0/documents/KeyCommodityReportWeekly080620… ·...
368.00 368.20 358.57 366.45 -0.05% 0.42% 878.8 886.9 986.0 950.4 -0.91% -7.53% 331.46 335.38 317.31 302.94 -1.17% 9.41% 0.2835 0.2840 0.3269 0.3374 -0.18% -15.98% 10.55 11.50 10.33 12.50 -8.22% -15.57% 564.80 555.05 436.66 451.95 1.76% 24.97% 1.535 1.435 1.557 1.555 6.93% -1.32% 1.611 1.544 1.579 1.694 4.34% -4.87% 14.91 14.56 14.88 16.35 2.40% -8.82% 2.324 2.307 2.081 2.668 0.74% -12.89%
1.135 1.112 1.210 1.162 2.12% -2.30% 1.776 1.731 1.759 1.827 2.55% -2.80% 0.3821 0.4463 0.4562 0.6207 -14.38% -38.44% 1.2533 1.4405 1.4067 2.4513 -13.00% -48.87% 1.0700 1.1100 1.2316 1.4700 -3.60% -27.21% 77.00 77.00 67.02 80.00 0.00% -3.75% 31.20 30.95 36.07 34.90 0.81% -10.60% 1.176 1.130 0.912 0.996 4.07% 18.07%
67.91 68.80 43.32 49.11 -1.29% 38.30% 202.70 202.70 127.08 153.20 0.00% 32.31% 322.30 322.60 230.22 258.10 -0.09% 24.87% 285.20 284.60 214.03 237.80 0.21% 19.93% 2.921 2.801 2.549 2.895 4.28% 0.90%
1.1543 1.1653 1.1068 1.1779 -0.94% -2.00% 1.2875 1.3087 1.3568 1.3003 -1.62% -0.98% 0.7385 0.7404 0.7438 0.7900 -0.26% -6.52% 1.3055 1.3001 1.3265 1.2688 0.42% 2.89% 6.836 6.820 6.639 6.681 0.23% 2.32% 0.995 0.991 0.985 0.967 0.31% 2.82%
25.72 26.05 27.62 24.80 -1.27% 3.71% 161.80 168.90 168.27 136.10 -4.20% 18.88% 1.0700 1.0775 1.3543 1.4030 -0.70% -23.73%
* Used as the indexing unit of measure for this exchange rate
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
Heating Oil No.2 Spot
Cheddar BarrelCheddar BlockMilk Class III
Source: CME Group
USDA Weekly Prices
Palm Oil
Butter AA
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
August 13, 2018
8/6/2018 This Week
Last Week YTD Avg Last Year
vs. Last Week
Commodity Activity - Weekly Average
CME Group
CornSoybeanSoy Meal
vs. Last Year7/30/2018
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
2.04
2.09
2.14
2.19
U.S. Currency Index
0.250.270.290.310.330.350.370.39
26
36
46
56
66
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Decem
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Soybean Oil & Crude Oil Relationship
Crude Oil Soybean Oil
26
36
46
56
66
76
86
JanuaryFebruaryM
archAprilM
ayJuneJulyAugustSeptem
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ovember
Decem
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FebruaryM
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FebruaryM
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Crude Oil - Average Weekly Price - NYMEX
350 355 360 365 370
This Week
Last Week
YTD Avg
Last Year
Corn
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: The USDA released it's WASDE report on Friday and they threw us a bit of a curve. The report increased the bushels per acre number quite a bit, from 48.5 to 51.6. This, along with export reductions due to levied tariffs, effectively forced the market lower due to a large amount of carryout for beans and soybean oil. The WASDE report actually added enough U.S. soybeans to the balance sheet greater than the amount of beans crushers can actually put into production. For soybean oil the overall food use demand has increased and the biodiesel demand stayed the same. Exports have increased for soybean oil to some countries other than China. For Canola, hot and dry weather has persisted in the prairies. For many the weather was bad during the flowering stage and this will impact the amount of tonnage coming from the fields and will impact the oil percentage from each seed. Canola is already tight, so expect cash values to continue to escalate. The good news is that we use the soybean futures to hedge Canola. With bean oil futures moving down, basis increases for Canola are keeping large increases at bay. Palm oil again is basically unchanged week over week. There is a lot of supply from Indonesia while Malaysian stocks are a little behind. This is historically when palm oil values are at their lowest each year.
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
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Mar
ch
April
May
June July
Augu
st
Sept
embe
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Oct
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Nov
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Dece
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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
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Dece
mbe
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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
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Oct
ober
Nov
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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
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Dece
mbe
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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
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Sept
embe
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Oct
ober
Nov
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Dece
mbe
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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
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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
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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
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Febr
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Mar
ch
April
May
June July
Augu
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Sept
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Oct
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Nov
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Dece
mbe
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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
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Dece
mbe
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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
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r
Oct
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Nov
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Dece
mbe
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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
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r
Oct
ober
Nov
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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
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r
Oct
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Nov
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Dece
mbe
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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
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Oct
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Nov
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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
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Febr
uary
Mar
ch
April
May
June July
Augu
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Sept
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Dece
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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
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Febr
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Mar
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April
May
June July
Augu
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Sept
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Nov
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Dece
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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
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Sept
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Oct
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Nov
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Dece
mbe
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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
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Dece
mbe
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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
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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
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Oct
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Nov
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Dece
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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
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Sept
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Oct
ober
Nov
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Dece
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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
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Sept
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r
Oct
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Nov
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Dece
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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
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Sept
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Oct
ober
Nov
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Dece
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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
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Oct
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Nov
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Dece
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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
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Sept
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Oct
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Nov
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Dece
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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
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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
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r
Oct
ober
Nov
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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
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r
Oct
ober
Nov
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r
Dece
mbe
r
Foreign Exchange Rate - Australian DollarFederal Reserve Bank of New York
2018 2017 2016 Average