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US milk powder keeps falling, heat wave or not

03-07-2026

Jorn Hansen

Last week’s open question was whether a heat wave might slow the steady growth in US milk output that has been weighing on prices. This week the heat actually arrived, and NFDM kept falling anyway. After a Monday spike to $1.6975, CME spot NFDM fell three straight sessions to $1.505 by Thursday, down 5.8% on […]

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Coriander leads a spice rally on thin arrivals and Hormuz optimism

Vegetable oils hold steady while Brent slips and Europe overheats

Whey protein stays tight while sweet whey looks for a floor

A heatwave lifted EU butter and SMP. Will it hold?

White sugar rallies on weather risk while physical prices sit still

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Coffee shorts retreat while Colombian differentials top 60 cents

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Cocoa rallies more than 30%; deficit fears return for next season

Freight update: ocean rates near the top, new emission costs from July 1

Egg markets split as Europe nears a floor and US prices firm

Summer lull pulls cheese prices further from their spring peak

Palm oil holds firm while Brent slides on US-Iran thaw

Hot weather lifts EU grains while US futures slip

Cocoa jumps 11% as the market turns to El Niño supply risk

Coffee futures climb as short sellers bail out

North America paperboard tightens while Western Europe stays soft

A new-crop tender resets EU sugar price expectations

California almonds firm up as May shipments beat expectations

Ocean rates climb into July, with new tolls and surcharges close behind

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