Key Takeaways:
Corn and soybean prices rallied sharply last week as declining U.S. production expectations collided with strong demand, raising the prospect of tighter supplies and leaving the market with a smaller margin for further yield losses. The USDA’s lower August yield estimates and disappointing results from the Pro Farmer Crop Tour have reinforced concerns that U.S. corn and soybean production could fall short of earlier expectations, with even trend-line yields becoming an increasingly ambitious target. Wheat has joined the broader rally in agricultural markets, although its strength has been driven more heavily by supply concerns than demand. A poor U.S. crop has reduced available supplies, while damage to Black Sea ports...
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...
