What You Need to Know Today:
After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to fulfilling its 25 MMT purchase commitment. This follows the 470 KMT soybean flash sale to China announced yesterday. NOPA reported September soybean crush at 196.3 million bushels, the lowest monthly total in 13 months and below expectations of 203.7 million bushels. While seasonal maintenance and September's shorter calendar month contributed to the slowdown, the unusual year-over-year decline raises questions about the pace of soybean processing demand...
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...
