In this episode, Global Strategist Stefan Vogel discusses the highlights of the Agri Commodity Markets Research (ACMR) monthly report of May 2017, available on the RaboResearch Food & Agribusiness website. The S&P Agri Index remained unchanged so far in May, with the US Dollar Index down 2%. Startling political developments in Brazil caused a 3% depreciation in the Brazilian real and a 5% depreciation in the Argentine peso—but the influence on commodity prices has been limited. With the monsoon arriving in Asia and El Niño still a possibility, we expect more weather volatility around the corner.

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