What You Need to Know Today:
Risk-on money flow was present in the markets Thursday with headlines in Iran and the Black Sea driving the move. Russia attacked more of Ukraine’s processing and export facilities, including a Bunge facility near the Black Sea. One of the facilities hit was in Ukraine’s top five in size with a 1,600-MT daily oilseed processing capacity. Trading action was more active than usual heading into the WASDE report with soybeans surging to new rally highs while wheat and, to a lesser extent, corn rebounded off key technical points. China and “unknown” destinations (most likely China) accounted for another 478 KMT of “flash” soybean export sales Thursday morning. The U.S. weather for...
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...