Credit Suisse announced this week that it will exit its commodity trading business after reporting a second quarter loss of $779 million, much of which is allegedly attributable to the $2.6 billion settlement with the U.S. government.
Tomorrow is the final day of the 2014 Tour de France with today's stage again run in almost a constant rain. This has been the case nearly every day of the race, which we noted early in the event. This continuous rainfall has to have caused some loss of quality on mature crops waiting to be harvested. Some estimates have already downgraded up to a third of the French wheat crop to feed. France did not offer in Egypt's last tender. So far, the wheat market has not reacted. The quality of the U.S. hard red w...
Key Takeaways: Milk alone has not covered the full economic cost in any year since 2021: milk revenue fell short by $4.50, $2.15, $6.50, $1.27 and $2.34 per hundredweight in 2021 through 2025. Calf and cattle prices decided whether dairies cleared cost: cattle and other income lifted total rev...
Key Takeaways: Dry bulk markets are mixed with Capesize rates seeing solid gains while Panamax values slipped on a growing tonnage list. Supramax and Handysize vessels were stronger, though all sectors remain vulnerable to the seasonal dip in rates through Q4 and into Q1. Falling water l...
What You Need to Know Today: The Federal Reserve held interest rates steady at 3.75 to 4.0 percent Wednesday, with two officials dissenting in favor of a 25-basis-point increase. The Fed upgraded its assessment of economic growth from "solid" to "strong" but adopted a more patient approa...
