What You Need to Know Today:
Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate increase. CONAB released its monthly report, raising its corn production forecast by 0.9 percent to 142.995 MMT while trimming its soybean production estimate by 0.1 percent to 180.464 MMT. Wheat markets are closely monitoring the potential revival of a Black Sea grain initiative, which could restore grain export flows from the region. Old-crop corn export sales saw a notable increase from 117 KMT the previous week to 411 KMT in the most recent export sale...
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...
