Key Takeaways:
Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive prices and gain market share in destinations such as Vietnam, North Africa and the Middle East. Argentina’s reliance on both corn and sugarcane/molasses as ethanol feedstocks limits domestic corn demand, allowing a greater share of its record crop to remain available for export. Growing corn ethanol capacity and the potential for a higher blending mandate (from 12 percent to 15 percent) could increase domestic corn demand and gradually reduce the a...
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
