Milling Wheat The Black Sea market again remained about unchanged last week with no major trades reported. The Russian 12.5 pro price has found a stable balance for the moment. It doesn’t need to go lower to vie with other origins of similar quality as only Argentina appears to be competitive. However, the freight disadvantage versus the Black Sea to most destinations is at least $10. On the other hand, the Russian wheat cannot afford to lose demand, and therefore the upside potential is very limited. The EU exported only 128,000 MT last week, bringing the total to 8.8 MMT versus 11.3 MMT at the same time last year. If the pace remains this slow in coming months, most analysts will have to lower their EU export estimates, which are...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
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