Key Takeaways:
Dry bulk markets are mixed this week with larger vessel classes seeing strong demand from iron ore and coal while Supramax and Handysize rates remain steady. Congestion at the Panama Canal has eased but forward booking slots are showing signs of bottlenecks as draft levels and booking slots are reduced ahead of the El Nino weather event. Reminder: daily Panama Canal transits will fall from 36 to 34 starting Friday, 4 September. Attacks on vessels in the Strait of Hormuz and broader Persian Gulf increased this week with Iran and the U.S. trading blows and attacking tanker vessels. Mercifully, the Red Sea has been quiet with no new attacks reported in the region.
...
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...
