Insights / Commodities Report

Charcuterie board with meats and cheese

Commodities Report

Alerts & What’s Trending   Produce No major volatility last week. Romas were flat after recent gains, iceberg ticked up slightly, and avocados trended downward. Yellow onions may find some lift next month, but movement will likely be modest. Outlook: Produce pricing is expected to stabilize through the summer. Short-term surprises appear unlikely.   Grain Grain markets rebounded, led by wheat. Outside financial market concerns and international buying helped fuel the rally. Wheat pricing is now at its highest seasonal level in 12 years. Outlook: Expect ongoing volatility in the grains sector, especially if global weather issues and currency shifts persist.   Dairy CME blocks climbed to $1.95/lb and barrels to $1.87/lb. Butter moved up slightly to $2.36/lb. Retail cheese demand is steady, foodservice slightly weaker, but export strength continues. Outlook: With strong milk availability and consistent global demand, dairy prices are likely to trend stable with mild upward pressure.

Commodities Report

Alerts & What’s Trending   Produce Roma tomatoes surprised with another 16.5% jump to $14/carton. Avocados continued their steady decline, while lettuce held stable. Expect romas to level off again soon.   Grain Corn prices rebounded mid-week after strong export numbers despite downward pressure from rapid planting and acreage expectations. Export sales are unusually strong for this late in the marketing year.   Dairy Cheese and butter prices nudged higher. CME blocks rose 3% to $1.90/lb and barrels hit $1.82/lb. Butter demand remains stable, and inventories are seasonally strong.   Beef Cattle futures dipped, but boxed beef cutouts climbed. Choice beef rose to $349.90/cwt, with strong demand for end cuts and ground beef. 50% trim surged 7% to $1.19/lb, while 90% lean trim reached $3.80/lb. Reduced harvests are tightening supplies and putting upward pressure on prices.   Pork A robust week for pork with strength across primals. Loin primal rose

Commodities Report

Alerts & What’s Trending   Produce Avocado prices fell for a sixth straight week despite pre-Cinco de Mayo demand. A return to sub-$50 cartons isn’t expected until after June. Yellow onions saw their first price uptick in over a year, signaling a potential seasonal bottom. Roma tomatoes slowed their pace of increase, rising just 2.8% w/w as the market enters its typical quiet season.   Grain Quiet news drove technical trading. Soybean oil slumped after failing to break key resistance. An upcoming EPA renewable volume obligations (RVO) announcement could reignite upward momentum if biodiesel policies shift.   Dairy Butter prices edged up to $2.32/lb, while CME block cheese climbed 4% to $1.84/lb and barrels gained 2% to $1.78/lb. Nonfat dry milk rose to $1.22/lb. Retail demand remains steady, but foodservice activity is mixed. Cheese production is strong as milk supply grows.   Beef Choice cutout values climbed 1% to $347.89/cwt,

Fresh fish and seafood platter

Commodities Report

Alerts & What’s Trending   Produce Iceberg lettuce returned to steady levels near $10/carton following a brief price spike, while large tomatoes jumped another 12%—though that rally is expected to fade soon. Hass avocados dropped 2.2% to an 11-week low despite tight supply of large fruit. Outlook: Produce markets appear stable overall. Tomato prices could ease in the coming weeks, while avocado prices may tick back up by late June.   Grain Grain prices fell again, led by Kansas City wheat and corn. Chicago wheat remains just above long-term technical support. Drier forecasts in the U.S. Southern Plains may provide some stabilization, but export demand remains sluggish. Outlook: Without stronger global buying or weather-driven supply issues, grains—especially wheat—are likely to remain under downward pressure.   Dairy Butter rose slightly to $2.31/lb, and both cheese blocks and barrels saw 2–3% gains. Retail demand is holding firm, but foodservice demand remains soft.

Charcuterie board with meats and cheese

Commodities Report

Alerts & What’s Trending   Produce Both iceberg lettuce and roma tomato prices rebounded, climbing 12.5% and 11.9% w/w, respectively. However, the tomato uptick appears temporary, while iceberg lettuce might see prices hit $25–$30/carton before easing. No major supply shocks are expected, suggesting produce markets should stabilize heading into the summer growing season.   Grain Grains traded mixed as heavy rains in the U.S. Southern Plains and improved Black Sea weather pressured Kansas City wheat prices lower. Without stronger export demand or a rebound in global weather issues, wheat markets are likely to remain under pressure. Technical support helped prevent further drops, but overall bearish momentum persists.   Dairy Dairy prices slipped, with butter down slightly to $2.33/lb and cheese blocks and barrels both dropping by around 8–9%. Foodservice demand remains weak, while retail demand is steady to higher. Strong milk production is boosting cheese output, which could add additional

Commodities Report

Alerts & What’s Trending   Produce Lettuce and tomato prices erased March gains. Lettuce could spike in May, while tomatoes may strengthen through August. Avocados weakened to a nine-week low, with no big relief expected until July. Yellow onions held steady near $5/sack, with potential strength later in May.   Grain Grains were mixed. Soybean oil led gains; Chicago wheat rose 1.6% w/w. Other wheat types lagged. Kansas City wheat was flat to lower, despite rising drought levels. Heavy rain forecast in Oklahoma could ease yield concerns as only 47% of winter wheat is rated good-to-excellent vs. 55% last year.   Dairy Dairy prices edged up on retail promos and foodservice demand. Butter stayed flat at $2.34/lb. CME cheese blocks and barrels both rose to $1.84/lb. Cheese production is strong, supported by rising seasonal milk output and stable to strong retail demand.   Beef April cattle futures climbed 4% to

Commodities Report

Alerts & What’s Trending   Produce Tomato and lettuce prices reversed course, trending slightly lower after recent surges—though supply concerns remain. Roma tomatoes may not settle until they hit $20/carton, and iceberg could still spike toward $30. Avocado prices dipped slightly but remain elevated, up over 60% y/y. Expect more movement in April pending tariff developments.   Grain Corn and wheat held mostly flat thanks to early-week gains from USDA reports, but new tariff fears sparked a market-wide sell-off later in the week. Mexico was spared, keeping corn more stable, but tensions with major buyers like China and Japan could pressure prices going forward. Soybeans remain the weakest link due to lack of bullish fundamentals.   Dairy Butter and cheese prices ticked slightly lower amid softening foodservice demand and fewer retail promos. Cheese blocks dropped to $1.62/lb, while barrels nudged up. Butter fell $0.05 to $2.33/lb. Milk output is increasing,

Fresh fish and seafood platter

Commodities Report

Alerts & What’s Trending   Produce Tomatoes and lettuce took the spotlight—25 lb. large romas soared 44% w/w and are now up nearly 62% over two weeks, while 24-count iceberg prices rose as crop transitions continue. Relief isn’t expected until mid-April. Expect short-term spikes followed by stabilization as seasonal shifts settle.   Grain Markets were subdued ahead of the USDA’s key planting and stock reports. Soybean oil bucked the trend, rising on strong export sales and renewed optimism around biofuel tax credit talks. Despite potentially bearish supply data, SBO futures may remain supported by policy developments and demand fundamentals.   Dairy Retail promotions and export activity pushed dairy prices higher last week. Butter rose $0.07 to $2.37/lb, while cheese blocks and barrels climbed to $1.65 and $1.64/lb, respectively. Foodservice demand remains soft, but retail demand is steady. Milk production is trending up, helping stabilize supply.   Beef Beef stayed strong

Charcuterie board with meats and cheese

Commodities Report

Alerts & What’s Trending   Produce The produce sector finally moved: Iceberg lettuce surged 32% w/w as Western crops transition, and roma tomatoes jumped 12.4% amid tightening Eastern supply. Avocados climbed 2.8%, with tariff concerns looming for April. Prices may stay elevated until summer. Yellow onions and most other categories remained stable, though iceberg and romas may continue rising short term.   Grain Wheat cooled after a strong run, with traders watching U.S. drought conditions ahead of April 7 crop progress updates. Despite net cancellations for the current marketing year, strong 2025/26 sales helped stabilize the complex. Export strength could reignite prices if drought worsens, but until then, expect sideways trading.   Dairy Dairy prices softened across the board amid lower retail promotions and mixed export demand. Butter fell $0.04 to $2.30/lb, and cheese blocks dropped 9% to $1.62/lb. Barrels were also down $0.16 to $1.57/lb. Cheese supply remains balanced,

Commodities Report

Alerts & What’s Trending   Produce Produce markets were mostly flat, with no major supply disruptions on the horizon. Avocado prices remain high, with potential tariff impacts looming in April. Iceberg lettuce ticked up slightly but remains stable, while roma tomatoes have held steady for six weeks.   Grain Wheat markets rebounded, fueled by export demand and drought concerns in U.S. hard red winter wheat regions. Corn and soybeans remain stagnant, with potential price movement hinging on upcoming export sales data.   Dairy Dairy prices rebounded after three weeks of decline, driven by increased retail promotions. Butter rose $0.04 to $2.34/lb, while cheese prices climbed, with blocks up 7% to $1.76/lb and barrels up 4% to $1.73/lb. Milk volumes remain high, with steady domestic demand and mixed international interest.   Beef The cattle market saw a nearly 3% increase, with beef demand strengthening ahead of the grilling season. Boneless ribeyes