Sysco’s Market Corner is a weekly report covering key commodity outlooks to keep you informed and support you in managing your business. Reports are produced every Friday.
Grains / Oil – Soybean oil was slightly higher last week. South American harvest is just about done but there are rumors of Argentinian strikes are causing export delays. Wet weather in the US has slowed planting but it’s not a concern. Soybean oil is bearish. Palm is tight with production concerns. Canola is moving with soybean oil.
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Seafood – While food service sales remained stable during the Lent season, escalating labor, energy, and other operational costs have led to an increase in prices. This poses a challenge to sustaining sales throughout the year. Post the Lent season, the anticipated surge in summer demand is expected to stimulate shrimp sales.
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Grapes – Volumes continue to be lighter than normal as import supplies are being strategically aligned to meet supplies. Quality dropping off quickly on green varieties and expect to see shortages.
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Poultry – Breasts demand has started to slow and extra supply is becoming available. Wings are in balance in the market. Tenders demand is strong and tenders remain the hardest offering to find. Dark meat demand remains very good. Whole birds are mostly balanced.
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