Commodity Traders Weekly Outlook: OJ Soar on Production While Lean Hogs Fall on Demand

Orange Juice (FCOJ) had a spectacular jump this week, jumping. 13.48% after the US Department of Agriculture (USDA) crop report forecasts 2023 to bring the worst harvest of Florida oranges in 86 years. They estimate producing 16 million boxes of orange juice, down a historic 61 percent on the 41 million produced in 2022. The biggest prices fall this week were in CME Lean Hog futures tumbling to contract lows as excess supplies and weak demand for U.S. pork fueled … Continue reading “Commodity Traders Weekly Outlook: OJ Soar on Production While Lean Hogs Fall on Demand”

Orange Juice Futures Explode 13% Higher for The Week with Florida Crop Smallest in 86 Years

Orange juice futures prices exploded higher this week, rising 13.48%. The move is in line with FLOJ being the best performing commodity in the first quarter of the year, they were up 30.8%. They are up 71% in the past year. The reason is supply, the U.S. Department of Agriculture estimates Florida production will fall to only 15.65 million boxes of oranges this season. In the 2021-2022 season Florida growers produced fill 41.2 million boxes. For perspective twenty years ago, … Continue reading “Orange Juice Futures Explode 13% Higher for The Week with Florida Crop Smallest in 86 Years”

Commodity Traders Weekly Outlook: Natural Gas on Fire, Grains Sell Off

For the second week natural gas led the commodities pile, continuing its recover surging over 14% for the week. Grains again were the week’s biggest losers with Canola, rice, corn, soybeans beans and meal all down over 5% on the week. Last week’s WASDE report impacting prices again. Both gold and silver ran continued lower but did bounce late Friday to mitigate much of the damage as the debt ceiling hopes faded. The move was influenced by the US dollar strengthening … Continue reading “Commodity Traders Weekly Outlook: Natural Gas on Fire, Grains Sell Off”

Commodity Traders Weekly Outlook: Natural Gas Recover, Orange Juice and Silver Sell Off

Natural gas saw some relief this week recovering some of the prior week’s constant selling to close up 0ver 6% for the week. Soybean oil, Silver and OJ futures were the week’s biggest losers. The WASDE report saw volatility amongst the grain which had been up ahead of the release. Both gold and silver ran out of gas, pulling back hard after heavy spec buying took profit. The move was influenced by the US dollar strengthening on safe haven buying. The … Continue reading “Commodity Traders Weekly Outlook: Natural Gas Recover, Orange Juice and Silver Sell Off”

Commodity Traders Weekly Outlook: Natural Gas and Oil Prices Slump While Grains Recover

Energy prices continued their steep fall with US benchmark Henry hub falling -12.26% for the week, now down -73% year on year. The crude oil complex continuing to sell off this past week, while Brent and WTI did bounce hard off a level not seen since December 2021, that said oil still lost more than $5.00/bbl for the week. Last Week WTI futures fell -7.09% on the week, Brent was down 6.12%, heating oil was down 2.63% and gasoline down 5.74%. … Continue reading “Commodity Traders Weekly Outlook: Natural Gas and Oil Prices Slump While Grains Recover”

New Zealand Completes Ban of Live Exports by Sea

New Zealand fully implemented a ban on export shipments of animals on welfare grounds. The last exports of livestock by sea were completed the New Zealand agriculture minister confirmed Friday. The move follows on a 2021 announcement that shipping animals offshore, largely for building herds in trading partners like China, would be halted. They gave two years for farmers to transition out of the export business. “Our position on the map means that the journey to northern hemisphere markets will … Continue reading “New Zealand Completes Ban of Live Exports by Sea”

Commodity Traders Weekly Outlook: Feeder Cattle Prices Soar 10%, Corn and Wheat Lower

Feeder Cattle saw contract highs, up 10.5% for the week with corn lower by 7.77% and wheat down 1.21%. July platinum rose 8.2% supported by a huge 72,469 ounces single day inflow to ETF holdings on Wednesday. Platinum ETF holdings now expanded 5.9% year-to-date. Palladium ETF holdings significant volatility in daily flows with holdings 4.6% higher year-to-date. June WTI oil settled with a weekly loss for the first in five weeks, down 5.5% for the week. Gold June futures settled … Continue reading “Commodity Traders Weekly Outlook: Feeder Cattle Prices Soar 10%, Corn and Wheat Lower”

Commodity Traders Weekly Outlook: Soft Commodities Coffee & Sugar Prices Higher on Tight Supply

Commodities continued to feel the impact of weather and supply impacts. Managed money demand for soft commodities extended to a third week with the tight supply outlook supporting a rally in coffee prices this week of over 8%. Raw sugar futures in the US continued to rise to over ten-year highs accelerating after breaking through the high from late February spurred on by a number of factors. Crude oil consolidated it’s rally, WTI rose 2.3%. Gold pulled back, but closed … Continue reading “Commodity Traders Weekly Outlook: Soft Commodities Coffee & Sugar Prices Higher on Tight Supply”

Ethanol Demand Pushes US Raw Sugar Futures to 10-Year High as Weather Hits Harvests

Raw sugar futures in the US have continued to rise to over ten-year highs accelerating after breaking through the high from late February spurred on by a number of factors. Futures extending their rally to over $24.5 per pound in April, reaching the highest since March 2012. Disappointing harvests in some of the world’s largest producers India, China and Thailand from bad weather has hit sugar production in all three countries. At the same time China’s economy has begun to … Continue reading “Ethanol Demand Pushes US Raw Sugar Futures to 10-Year High as Weather Hits Harvests”

Commodity Traders Weekly Outlook: Oil and Biofuel Complex Soars Following OPEC Move

In a shortened week with Easter commodities markets were highlighted by the OPEC surprise production cut sending oil prices up 6% Monday which also pumped commodities related to biofuels. Ethanol rose 8.56%, Sugar rose 6.2%. WTI and WTI both rose 6.32%. Gasoline rose 6.2%. Natural gas saw no benefit falling 8.17% and was the weakest commodity we cover. Gold closed over $2000 with help from lower yields hitting the USD. There were some safe haven buys and with the BRICs … Continue reading “Commodity Traders Weekly Outlook: Oil and Biofuel Complex Soars Following OPEC Move”