Interactive Ocean Freight Rates (Updated 26 July)
Ocean Freight Comments - 26 July 2024 By Matt Herrington Dry bulk markets saw another week of fairly dull trade with demand becoming more balanced against vessel availability. There has been fresh business from South America’s East Coast as well as the Black Sea that have helped take some...
FOB Prices and Freight Rate App (Updated 26 July)
Ocean Freight Comments - 26 July 2024 By Matt Herrington Dry bulk markets saw another week of fairly dull trade with demand becoming more balanced against vessel availability. There has been fresh business from South America’s East Coast as well as the Black Sea that have helped take some...
Black Sea Regional Analysis
Russian Grain Markets: 15–19 July 2024 Russia started harvesting several weeks earlier this season due to hot weather conditions and early maturity of early grains. As of 12 July, Russian farmers harvested 32 MMT of grains from 8.4 Mha versus only 12.2 MMT from 3.3 Mha a year ago. The ave...
Market Commentary: Midwest Heat Concerns Corn, Soybeans; Cattle Finally React to COF Report
After two days of exciting trade, the CBOT settled down a little on Tuesday to reflect more deeply on market fundamentals. Monday’s Crop Progress data was largely reassuring for the major row crops, which helped create more stability in futures for the day. Wheat futures dipped but did no...
Summary of Recent Factors Driving Commodity Price Action
Recently, a WPI client asked if we could summarize the major factors that have driven commodity markets over the past several months. The goal is to succinctly describe how markets have ended up in their current state and examine the next major trend(s) that are likely to develop. This report,...
Market Commentary: Firmer Trends Continue; Ukraine’s Corn in Jeopardy
The CBOT saw generally quiet, steady trade at mid-week, but many players noted firmer undertones as futures stabilize or start to recover from deeply oversold conditions. Corn and all three wheat futures markets turned higher with cautious bull spreading with the latter market seeing support fr...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 July 2024 Russian grain markets remained unmistakably bearish which is tradition at the peak of grain harvesting campaign. Even though this year’s crop is quite modest compared to the past several seasons, the pressure on prices is significant because of...
Market Commentary: WASDE Bearish Wheat, Neutral Corn; Soybeans Fall on Demand Worries
CBOT futures had a relatively muted reaction to the USDA’s July WASDE as large U.S. and global new crop ending stocks damped much of any potential volatility. The biggest theme was larger U.S. and world wheat supplies and stocks while the outlook for corn saw far more muted changes. Soybe...
Black Sea Regional Analysis
Russian Grain Markets: 2–5 July 2024 Russian grain markets remained unmistakably bearish under pressure of high carryover and optimistic new crop forecasts. New crop is already arriving at inland elevators and even port terminals. Feed wheat lost $10/MT on a week which is a good indicator...
Market Commentary: Soy Complex Extends Rally while Corn, Wheat Move Lower
Pre-holiday trade at the CBOT featured the continuation of the soyoil and broader soy complex rally while corn and wheat sagged lower in uninspired trade. Trading volume was expectedly light ahead of the one-day break in trading and few markets made major moves. Those that did, however, include...
Black Sea Regional Analysis
Russian Grain Markets: 24–28 June 2024 Russian grain markets are moving slowly but steadily to the end of the current season anticipating new crop pressures and global trends. Overall, the market was bearish last week, but a bigger bear seems to be ahead as the new season is only starting...
Black Sea Regional Analysis
Russian Grain Markets: 17–21 June 2024 Russia’s grain markets were quite volatile with some regions showing price recoveries. Southern Russia’s harvesting campaign is underway. Fresh demand for new crop barley has seen better price levels and as long as feed barley exports are...
Interactive Ocean Freight Rates (Updated 26 July)
Ocean Freight Comments - 26 July 2024 By Matt Herrington Dry bulk markets saw another week of fairly dull trade with demand becoming more balanced against vessel availability. There has been fresh business from South America’s East Coast as well as the Black Sea that have helped take some...
FOB Prices and Freight Rate App (Updated 26 July)
Ocean Freight Comments - 26 July 2024 By Matt Herrington Dry bulk markets saw another week of fairly dull trade with demand becoming more balanced against vessel availability. There has been fresh business from South America’s East Coast as well as the Black Sea that have helped take some...
Black Sea Regional Analysis
Russian Grain Markets: 15–19 July 2024 Russia started harvesting several weeks earlier this season due to hot weather conditions and early maturity of early grains. As of 12 July, Russian farmers harvested 32 MMT of grains from 8.4 Mha versus only 12.2 MMT from 3.3 Mha a year ago. The ave...
Market Commentary: Midwest Heat Concerns Corn, Soybeans; Cattle Finally React to COF Report
After two days of exciting trade, the CBOT settled down a little on Tuesday to reflect more deeply on market fundamentals. Monday’s Crop Progress data was largely reassuring for the major row crops, which helped create more stability in futures for the day. Wheat futures dipped but did no...
Summary of Recent Factors Driving Commodity Price Action
Recently, a WPI client asked if we could summarize the major factors that have driven commodity markets over the past several months. The goal is to succinctly describe how markets have ended up in their current state and examine the next major trend(s) that are likely to develop. This report,...
Market Commentary: Firmer Trends Continue; Ukraine’s Corn in Jeopardy
The CBOT saw generally quiet, steady trade at mid-week, but many players noted firmer undertones as futures stabilize or start to recover from deeply oversold conditions. Corn and all three wheat futures markets turned higher with cautious bull spreading with the latter market seeing support fr...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 July 2024 Russian grain markets remained unmistakably bearish which is tradition at the peak of grain harvesting campaign. Even though this year’s crop is quite modest compared to the past several seasons, the pressure on prices is significant because of...
Market Commentary: WASDE Bearish Wheat, Neutral Corn; Soybeans Fall on Demand Worries
CBOT futures had a relatively muted reaction to the USDA’s July WASDE as large U.S. and global new crop ending stocks damped much of any potential volatility. The biggest theme was larger U.S. and world wheat supplies and stocks while the outlook for corn saw far more muted changes. Soybe...
Black Sea Regional Analysis
Russian Grain Markets: 2–5 July 2024 Russian grain markets remained unmistakably bearish under pressure of high carryover and optimistic new crop forecasts. New crop is already arriving at inland elevators and even port terminals. Feed wheat lost $10/MT on a week which is a good indicator...
Market Commentary: Soy Complex Extends Rally while Corn, Wheat Move Lower
Pre-holiday trade at the CBOT featured the continuation of the soyoil and broader soy complex rally while corn and wheat sagged lower in uninspired trade. Trading volume was expectedly light ahead of the one-day break in trading and few markets made major moves. Those that did, however, include...
Black Sea Regional Analysis
Russian Grain Markets: 24–28 June 2024 Russian grain markets are moving slowly but steadily to the end of the current season anticipating new crop pressures and global trends. Overall, the market was bearish last week, but a bigger bear seems to be ahead as the new season is only starting...
Black Sea Regional Analysis
Russian Grain Markets: 17–21 June 2024 Russia’s grain markets were quite volatile with some regions showing price recoveries. Southern Russia’s harvesting campaign is underway. Fresh demand for new crop barley has seen better price levels and as long as feed barley exports are...