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: 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...
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
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...
