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 Beef Live Hog Federal Reserve Chicken Breast Jumbo MW On Highway Gasoline Natural Gas Source: New York Mercantile Exchange Crude Oil Crude Peanut Oil Source: USDA NYMEX Futures & Retail Heating Oil No.2 Spot Cheddar Barrel Cheddar Block Milk Class III Source: CME Group USDA Weekly Prices Palm Oil Butter AA Soybean Oil Market Commentary *Euro Canadian Dollar Chinese Yuan Source: Federal Reserve Bank of New York ICE Futures Sugar 16 Coffee Source: 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 Corn Soybean Soy Meal vs. Last Year 7/30/2018 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 0.25 0.27 0.29 0.31 0.33 0.35 0.37 0.39 26 36 46 56 66 January February March April May June July August September October November December January February March April May June July August September October November December January February March April May June July August September October November December January February March April May June July August September October November December Soybean Oil & Crude Oil Relationship Crude Oil Soybean Oil 26 36 46 56 66 76 86 January February March April May June July August September October November December January February March April May June July August September October November December January February March April May June July August September October November December 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.
* 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
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
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
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