Insights / Matthew Carpilio

Charcuterie board with meats and cheese

Commodities Report

Alerts & What’s Trending   Produce Lettuce, onions, and tomatoes remained the biggest pricing stories in produce last week. Onion markets were mostly flat to lower, signaling prices may be nearing their peak sooner than expected. Iceberg lettuce remains elevated with limited supply relief expected until later this month, while tomato prices continued climbing despite early signs of improving supply conditions. Outlook: Operators may start to see some relief on onions first, while lettuce and tomatoes could remain volatile through at least the remainder of May. Produce buyers should continue monitoring markets closely and stay flexible with menu planning where possible.   Grains Corn, soybean, and wheat markets all moved lower last week, reversing most of the prior week’s rally. Easing fertilizer concerns tied to geopolitical developments helped pressure markets overall. Wheat prices fell despite ongoing concerns surrounding lower yields and crop abandonment in Kansas, one of the country’s largest

Vegetables

Commodities Report

Alerts & What’s Trending   Produce Produce costs remain elevated, with roma tomatoes surpassing $40 and iceberg lettuce continuing to climb past earlier highs. Onion prices are also at peak levels, particularly for red and white varieties. Outlook: Relief may begin mid-May as new supply comes online, but near-term pricing will stay elevated. Flexibility on menus will be key.   Grains Grain markets moved modestly higher, with soybeans seeing slight gains after more than a month of flat activity, largely driven by soybean oil strength. Outlook: Momentum feels uncertain. Without new demand drivers, expect continued volatility rather than sustained increases.   Dairy Dairy markets were mixed, with butter slipping slightly and now trading below cheese—a shift not consistently seen since 2021. Cheese markets are stabilizing as global pricing begins to rebalance. Outlook: Butter may be nearing a floor, but strong production and softer demand will likely keep prices from climbing