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Citizens Bank shutters more than 100 supermarket outposts — with plans to open more standalone branches

NY Post
3 weeks 6 days ago
Citizens Bank customers will lose 100 to 120 in-store branches.
Aurielle Weiss

Tugboat captain pleads guilty to horrific crash that killed 3 girls on sailing camp: ‘Unimaginable pain and loss’

NY Post
3 weeks 6 days ago
“He feels awful about the unimaginable pain and loss suffered by the three families who lost their three very young daughters,” the captain's attorney said.
Patrick Reilly

Peerless in the NL, Dodgers have open road back to World Series

NY Post
3 weeks 6 days ago
Clear your schedules for late October.
Dylan Hernandez

MLS club embarrasses itself with horrid own goal in first game after World Cup hysteria

NY Post
3 weeks 6 days ago
So much for capitalizing on the home World Cup buzz.
Spencer Brod

Miles Bridges says he’s ‘been to therapy’ after domestic violence arrest as Suns face blowback for polarizing move

NY Post
3 weeks 6 days ago
"I take full responsibility of my actions. I've been to counseling, I've been to therapy."
Matt Ehalt

Crop Prices Hit 3-Year High As Heat & War Stoke Supply Fears; Options Whale Places $20M Corn Bet

Zero Rss
3 weeks 6 days ago
Crop Prices Hit 3-Year High As Heat & War Stoke Supply Fears; Options Whale Places $20M Corn Bet

The Bloomberg Agriculture Spot Index (BCOMAGSP) climbed to a three-year high Wednesday as widening conflict across critical energy and grain trade corridors, from the Black Sea to the Strait of Hormuz and the southern Red Sea, collided with scorching heat waves across Europe and the US and mounting El Niño risks in critical agri growing belts, reviving the threat of global food inflation.

BCOMAGSP is a dollar-denominated benchmark that tracks 10 major agricultural futures, including Chicago and Kansas City wheat, corn, soybeans, soybean meal, soybean oil, coffee, cocoa, sugar, and cotton. On Wednesday, the index jumped to a level not seen since July 2023, continuing a seven-week advance.

Chicago wheat and soybean futures hit two-year highs as Russian and Ukrainian strikes in the Black Sea threatened grain shipments from a region responsible for more than a quarter of global wheat exports. Rising crude prices are also boosting demand for biofuel feedstocks, while heat waves in Europe and the US threaten critical agricultural growing regions.

Then there's the El Niño weather phenomenon, which is set to be the strongest in more than 75 years. This raises the risk of adverse weather conditions across the US, Asia, Australia, and South America. The stronger the weather event becomes, the greater the threat to critical food supply chains, which are already vulnerable to drought, flooding, export restrictions, and rising protectionism.

Sea Surface Temps

A negative El Niño Southern Oscillation Index indicates pressure patterns consistent with El Niño, typically associated with weaker Pacific trade winds and warmer-than-average sea surface temperatures in the central and eastern Pacific. The SOI is now at levels not seen since 2005.

El Niño Weather Impacts

El Niño coverage:

  • Strongest El Nino In 75 Years Sets Off Food Supply-Chain Alarm Bells
  • UBS Warns El Nino May Intensify Food Inflation Across Asia
  • First Major Weather Organization Declares El Nino Onset As Food Inflation Risks Intensify

Must Read:

  • Super El Nino: Famine Follows War?

"What really drives the market is whether there is physical supply coming to those who need it," said Dennis Voznesenski, an agricultural economist at the Commonwealth Bank of Australia, as quoted by Bloomberg.

Voznesenski pointed out that while factors such as heat and conflict in the Gulf area have been simmering for weeks, the Black Sea conflict was "the straw that broke the camel's back."

Given all this, Bloomberg reported that an option trade made a $20 million bet that corn futures will surge to their highest since 2023, as reduced US planting, record exports, and heat-damaged crops tighten the supply outlook. The trade involved 105,000 November $5.50/$6 call spreads, equivalent to more than 500 million bushels.

The position begins paying off if corn rallies nearly 15% to $5.50 a bushel and could generate about $250 million if prices reach $6. December futures rose 2% on Wednesday to $4.8475, extending their July gain to 11%.

Beyond the BCOMAGSP basket, the grain that feeds half the world, rice is creeping higher and higher...

The UN's global food basket is also creeping higher.

Bank of America: The Timing Of The Next Grocery Inflation Surge Revealed By BofA

Tyler Durden Thu, 07/23/2026 - 09:30
Tyler Durden

Disgraced California college president accused of harassment to earn outrageous six-figure salary

NY Post
3 weeks 6 days ago
The move comes just months after the California State University system paid $12 million to settle the explosive lawsuit that named him.
Daniel Farr

Hisense made a TV that doubles as art, and right now its over 50% off

NY Post
3 weeks 6 days ago
A TV that belongs in your space.
Nishka Dhawan

Fanatics Sportsbook promo code NYPOST26: Get up to $1,000 matched in FanCash for Rays vs. Blue Jays

NY Post
3 weeks 6 days ago
Get Up To $1,000 matched in FanCash with the Fanatics Sportsbook with promo code NYPOST26.
Sean Treppedi

Will There Be A ‘Criminal Minds: Evolution’ Season 20 On Paramount+? ‘Criminal Minds’ Season 20 Premiere Date Info

NY Post
3 weeks 6 days ago
Bring back the BAU!
mliss1578

Shocking airport security breach allowed traveler to bypass TSA and CLEAR using a complete stranger’s boarding pass

NY Post
3 weeks 6 days ago
A Delta passenger claimed he was able to make it past nearly four security checkpoints with his ID in hand but a stranger’s plane ticket.
Aurielle Weiss

Suri Cruise to star in iconic Shakespeare play as college major is revealed

NY Post
3 weeks 6 days ago
It was previously believed that the 20-year-old was "leaning toward" obtaining a degree in fashion.
mliss1578

Suri Cruise to star in iconic Shakespeare play as college major is revealed

NY Post
3 weeks 6 days ago
It was previously believed that the 20-year-old was "leaning toward" obtaining a degree in fashion.
Bernie Zilio

Tommy Lee describes injecting Jack Daniels into his veins in harrowing confession

NY Post
3 weeks 6 days ago
"This is f—king wrong and somebody's going to die," the drummer recalled.
mliss1578

Tommy Lee describes injecting Jack Daniels into his veins in harrowing confession

NY Post
3 weeks 6 days ago
"This is f—king wrong and somebody's going to die," the drummer recalled.
Jolie Zenna

Amazon gaming boss predicts future where players no longer need consoles

BBC Tech
3 weeks 6 days ago
Jeff Gattis said the rising cost of gaming tech is likely to mean more people will stream their games online.

Ex-‘Howard Stern Show’ staffer trolls fans, teases new job after layoffs

NY Post
3 weeks 6 days ago
Page Six confirmed Howard Stern laid off around a dozen staffers from his SiriusXM show.
mliss1578

Ex-‘Howard Stern Show’ staffer trolls fans, teases new job after layoffs

NY Post
3 weeks 6 days ago
Page Six confirmed Howard Stern laid off around a dozen staffers from his SiriusXM show.
Eric Todisco

David and Victoria Beckham enjoy yacht getaway and more star snaps

NY Post
3 weeks 6 days ago
Jenni ‘JWoww’ Farley honeymoons in Switzerland, Hudson Williams vacations in Greece and more snaps...
mliss1578

David and Victoria Beckham enjoy yacht getaway and more star snaps

NY Post
3 weeks 6 days ago
Jenni ‘JWoww’ Farley honeymoons in Switzerland, Hudson Williams vacations in Greece and more snaps...
Nicole Mazza

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News feeds

  • Europe Scrambles For Innovation And Defense As US Decouples From "Global Order"
  • British Liberals Cheer Migrant Camps In Villages... As Long As It's Not Their Villages
  • The Specter Of 'Economic Death' Looms Over All Of Us In Late-Stage Surveillance Capitalism
  • US Airports Remain Busy Despite Surging Prices
  • Governments Don't Like It When We Gather Without Their Permission
  • Arrest Warrants Issued For 6 DC Cops Accused In $440K Overtime Fraud
  • S.Korea Reaffirms Push For Military Independence After Trump Announced Scaled-Back Drills
  • Amazon 'Prime Air' To Expand Drone Delivery To Nearly 500 US Cities This Year
  • "Doom Loop" Engaged: US Debt Hits $40 Trillion As Treasury Enters The Endgame
  • "Economic D-Day": Trump Announces "Most Crushing Economic Operation Ever" Against Iran
More

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