Agricultural Prices

FreightWaves Customer SuccessAgriculture - Price

What is it?

SONAR tracks monthly data on various agricultural commodities, including price and volume. The price data is the national average price received by agricultural producers during the month, and is typically reported in USD per pound, though some commodities (milk, eggs, hogs) have unique units of measurement. The following commodity prices are tracked in SONAR:

BANANA – bananas
BEANS – edible dried beans
BEEF – ground beef
BOOZ – alcoholic beverages
BREAD – breads
BROCLI – broccoli
BUTRPC – butter, stick
CHEDAR – cheddar cheese
CHERRY – cherries
CHICK – whole chicken
COFFEE – coffee
CORNPC – corn
EGGS – eggs
FCOJ – frozen concentrated orange juice
GFRUIT – grapefruits
GRAPE – grapes
HOGPRC – hogs
LEMON – lemons
LETUCE – iceberg lettuce
MILK – milk
ORANGE – navel oranges
PASTA – pasta, spaghetti and macaroni
PEACH – whole peaches
PEAR, anjou pears
PEPPER – sweet peppers
PORK – pork chops
POTATO – white potatoes
POWER – electricity
RICE – white rice
SBNPRC – soybeans
SODA – soft drinks
STRBRY = streawberries
SUGAR – white sugar
TOMATO – tomatoes
TURKEY – whole turkeys
VODKA – vodka
WINE – red and white wine
YOGURT- yogurt

Who is interested?

Economists, produce market analysts, produce freight

What does it tell me?

Commodity prices serve as a measure of supply and demand conditions in various commodity markets. A rising agricultural price suggests either that demand for that particular product is increasing, or supply is being restricted. For example, soybean prices in the U.S. fell after China restricted imports of U.S. produced soybeans, reducing the overall demand.