FOB Prices and Freight Rates App (Updated 20 September)
Ocean Freight Comments - 20 September 2024 By Matt Herrington Baltic freight markets were mostly higher last week with the Capesize sector recovering from early weakness to trade 1 percent higher while the Panamax sector rose 9 percent. The bump came from better grain demand from the East Coast...
How Not to Resuscitate; Micromanagement
How Not to Resuscitate The European Parliament rejected the Commission’s proposal to allow tolerance levels for pesticide residues on some imported foods. Allowing a rat pack of politicians to directly decide scientific issues only contributes to domestic decline. Pesticides can be produc...
New EU Commission; America First Channels Sovereignty
New EU Commission European Commission President Ursula von der Leyen made known her nominees to run the government in Brussels and the trade and agriculture portfolios have interesting selections. As was speculated previously, Christophe Hansen from Luxembourg has been picked for the agricultur...
Future of EU Agriculture; Future of U.S. Agriculture
Future of EU Agriculture Mercosur: Newly appointed French Prime Minister Michel Barnier reiterated French opposition to a trade agreement with Mercosur at the upcoming G20 summit in Brazil, saying he is seeking coalition partners for a blocking minority. Meanwhile, Mercosur leaders receive...
European Market Analysis
Regional News Last Thursday, a Ukrainian merchant vessel carrying grain and bound for Egypt was struck by a Russian missile in the Black Sea waters near Romania. The event is escalating the geopolitical tensions between the two countries and threatens Ukraine’s ability to protect ci...
WASDE Soybeans
WASDE SOYBEANS: USDA increased their estimate for global soybean ending stocks by 0.3 million tons to 134.6 million as higher stocks for Argentina and Canada are partly offset by lower stocks for the United States and the EU. U.S. soybean ending stocks are projected at 550 million b...
WASDE Wheat
WASDE WHEAT: USDA increased their estimate for 2024/25 global wheat supplies by 1.5 million tons to 1,062.1 million as higher beginning stocks were more than offset by lower production. World wheat trade is raised 1.7 million tons to 216.5 million as higher exports for Australia, Canada,...
European Market Analysis
Regional News The EU is set to receive beneficial rains across its central region this week with some of that precipitation extending out into parts of western and eastern Europe. That will offer some relief from the drought for central Europe, but the north-central and eastern regions wi...
Competitor Opportunities (Future of EU Agriculture Part II)
Yesterday, we took an initial and cursory look at the outcome of the EU’s Strategic Dialogue on farm support. Basically, it says move away from area payments and focus resources on small farmers not large operations. Today, we look at it in more detail, the current spin on its outcome ver...
Competitiveness versus Social Goals; Food to Energy
Competitiveness versus Social Goals The EU completed a strategic dialogue on the future of the Continent’s agriculture and despite the June elections whittling down the power of the Greens, they have won the debate on farm subsidies. The farmers protesting ahead of this year’s elect...
U.S. Soybean Oil Outlook
Soyoil futures have seen a dramatic few years with a huge rally in 2020 sending the market to new record highs by 2022 amid the expectations for higher demand from biofuel mandates. However, since reaching mid-2022 highs soyoil has been on a long and volatile decline as global soybean and soyoi...
European Market Analysis
Regional News Drought in Romania has affected over 2 Mha of wheat, corn, rapeseed, and sunflower seed with about 40 percent of the crops having been destroyed. This is the fourth year of the past five in which drought has caused significant damage to Romania’s crops. Tunisia p...
FOB Prices and Freight Rates App (Updated 20 September)
Ocean Freight Comments - 20 September 2024 By Matt Herrington Baltic freight markets were mostly higher last week with the Capesize sector recovering from early weakness to trade 1 percent higher while the Panamax sector rose 9 percent. The bump came from better grain demand from the East Coast...
How Not to Resuscitate; Micromanagement
How Not to Resuscitate The European Parliament rejected the Commission’s proposal to allow tolerance levels for pesticide residues on some imported foods. Allowing a rat pack of politicians to directly decide scientific issues only contributes to domestic decline. Pesticides can be produc...
New EU Commission; America First Channels Sovereignty
New EU Commission European Commission President Ursula von der Leyen made known her nominees to run the government in Brussels and the trade and agriculture portfolios have interesting selections. As was speculated previously, Christophe Hansen from Luxembourg has been picked for the agricultur...
Future of EU Agriculture; Future of U.S. Agriculture
Future of EU Agriculture Mercosur: Newly appointed French Prime Minister Michel Barnier reiterated French opposition to a trade agreement with Mercosur at the upcoming G20 summit in Brazil, saying he is seeking coalition partners for a blocking minority. Meanwhile, Mercosur leaders receive...
European Market Analysis
Regional News Last Thursday, a Ukrainian merchant vessel carrying grain and bound for Egypt was struck by a Russian missile in the Black Sea waters near Romania. The event is escalating the geopolitical tensions between the two countries and threatens Ukraine’s ability to protect ci...
WASDE Soybeans
WASDE SOYBEANS: USDA increased their estimate for global soybean ending stocks by 0.3 million tons to 134.6 million as higher stocks for Argentina and Canada are partly offset by lower stocks for the United States and the EU. U.S. soybean ending stocks are projected at 550 million b...
WASDE Wheat
WASDE WHEAT: USDA increased their estimate for 2024/25 global wheat supplies by 1.5 million tons to 1,062.1 million as higher beginning stocks were more than offset by lower production. World wheat trade is raised 1.7 million tons to 216.5 million as higher exports for Australia, Canada,...
European Market Analysis
Regional News The EU is set to receive beneficial rains across its central region this week with some of that precipitation extending out into parts of western and eastern Europe. That will offer some relief from the drought for central Europe, but the north-central and eastern regions wi...
Competitor Opportunities (Future of EU Agriculture Part II)
Yesterday, we took an initial and cursory look at the outcome of the EU’s Strategic Dialogue on farm support. Basically, it says move away from area payments and focus resources on small farmers not large operations. Today, we look at it in more detail, the current spin on its outcome ver...
Competitiveness versus Social Goals; Food to Energy
Competitiveness versus Social Goals The EU completed a strategic dialogue on the future of the Continent’s agriculture and despite the June elections whittling down the power of the Greens, they have won the debate on farm subsidies. The farmers protesting ahead of this year’s elect...
U.S. Soybean Oil Outlook
Soyoil futures have seen a dramatic few years with a huge rally in 2020 sending the market to new record highs by 2022 amid the expectations for higher demand from biofuel mandates. However, since reaching mid-2022 highs soyoil has been on a long and volatile decline as global soybean and soyoi...
European Market Analysis
Regional News Drought in Romania has affected over 2 Mha of wheat, corn, rapeseed, and sunflower seed with about 40 percent of the crops having been destroyed. This is the fourth year of the past five in which drought has caused significant damage to Romania’s crops. Tunisia p...