What You Need to Know Today:
The G7 agreed to release 100 million barrels of crude oil and fuel reserves over four months, with a substantial diesel release front-loaded into the first 20 days. The announcement initially pushed crude oil lower on Friday, although it later recovered a portion of those losses. The September jobs report came in weaker than expected, with the U.S. adding just 29,000 jobs versus roughly 90,000 expected. The unemployment rate edged up to 4.2 percent from 4.1 percent, while July and August payrolls were revised down by a combined 60,000 jobs. Soybean demand has lost some momentum, with only one relatively small flash sale reported this week and Chinese buying slowing from the stronger pace seen earlier. The lack...
What You Need to Know Today: New World screwworm is back in the headlines after new cases were found in a hunter-harvested elk in Texas and a beef cow in New Mexico. The detection in wildlife could further complicate containment efforts, as implementing effective biosecurity measures is consid...
Cattle on Feed Expectations USDA’s monthly Cattle on Feed report that will show cattle inventory statistics as of 1 October will be released tomorrow, 23 October. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 100.3 percent of last year, which imp...
Key Takeaways: Dry bulk markets remain mixed with Capesize rates turning around from their recent weakness and posting solid gains on improved Chinese demand. Panamax vessels, on the other hand, saw rates decline amid greater tonnage availability in the South Atlantic and falling U.S. Gu...
