Key Takeaways:
Weather conditions in Europe have continued to deteriorate following both the EU MARS’ latest balance sheet update and the August WASDE, leaving “official” estimates lagging behind the reality observed on the ground. WPI’s models anticipate a 4 percent reduction in EU maize yields from the July MARS estimate, with the bloc’s average yield forecast at 6.64 MT/ha. The EU-27 maize crop will likely fall to near 48.2 MMT this year, due to collapsing French and Hungarian crops. Despite the bleak production outlook, added imports will largely fill the domestic supply gap and modest demand rationing in feed and FSI use will keep ending stocks tight but relatively comfortable. Prices in Europe are...
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...
