Feed Grains
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Summary of Futures
Dec 22 Corn closed at $6.075/bushel, down $0.1225 from yesterday's close. Sep 22 Wheat closed at $8.46/bushel, down $0.38 from yesterday's close. Nov 22 Soybeans closed at $13.9525/bushel, down $0.6275 from yesterday's close. Dec 22 Soymeal closed at $389.2/short ton, down $17...
Market Commentary: Some Tweaks but Bearish Weather
Trading was mostly lower before USDA released its Acreage and Stocks reports at noon eastern time today. The reports could have been market movers but much of what they said was already expected to some degree. Once released, they confirmed the bearish tone that was already in play but was poss...
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Summary of Futures
Dec 22 Corn closed at $6.075/bushel, down $0.1225 from yesterday's close. Sep 22 Wheat closed at $8.46/bushel, down $0.38 from yesterday's close. Nov 22 Soybeans closed at $13.9525/bushel, down $0.6275 from yesterday's close. Dec 22 Soymeal closed at $389.2/short ton, down $17...
Market Commentary: Some Tweaks but Bearish Weather
Trading was mostly lower before USDA released its Acreage and Stocks reports at noon eastern time today. The reports could have been market movers but much of what they said was already expected to some degree. Once released, they confirmed the bearish tone that was already in play but was poss...
Summary of Futures
Dec 22 Corn closed at $6.1975/bushel, down $0.34 from yesterday's close. Sep 22 Wheat closed at $8.84/bushel, down $0.46 from yesterday's close. Nov 22 Soybeans closed at $14.58/bushel, down $0.2025 from yesterday's close. Dec 22 Soymeal closed at $406.7/short ton, down $0.3 f...
Soy & Oilseeds
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Oilseeds Highlights – Supply is Responding
Soybeans did not beat corn after all in the annual battle for acres. USDA’s Acreage report this week revealed that 88.33 million acres will be planted to soybeans, which is up 1 percent from last year but down nearly 3 percent from the implied sowing in the March planting intentions repor...
Summary of Futures
Dec 22 Corn closed at $6.075/bushel, down $0.1225 from yesterday's close. Sep 22 Wheat closed at $8.46/bushel, down $0.38 from yesterday's close. Nov 22 Soybeans closed at $13.9525/bushel, down $0.6275 from yesterday's close. Dec 22 Soymeal closed at $389.2/short ton, down $17...
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Oilseeds Highlights – Supply is Responding
Soybeans did not beat corn after all in the annual battle for acres. USDA’s Acreage report this week revealed that 88.33 million acres will be planted to soybeans, which is up 1 percent from last year but down nearly 3 percent from the implied sowing in the March planting intentions repor...
Summary of Futures
Dec 22 Corn closed at $6.075/bushel, down $0.1225 from yesterday's close. Sep 22 Wheat closed at $8.46/bushel, down $0.38 from yesterday's close. Nov 22 Soybeans closed at $13.9525/bushel, down $0.6275 from yesterday's close. Dec 22 Soymeal closed at $389.2/short ton, down $17...
Market Commentary: Some Tweaks but Bearish Weather
Trading was mostly lower before USDA released its Acreage and Stocks reports at noon eastern time today. The reports could have been market movers but much of what they said was already expected to some degree. Once released, they confirmed the bearish tone that was already in play but was poss...
Wheat
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Summary of Futures
Dec 22 Corn closed at $6.075/bushel, down $0.1225 from yesterday's close. Sep 22 Wheat closed at $8.46/bushel, down $0.38 from yesterday's close. Nov 22 Soybeans closed at $13.9525/bushel, down $0.6275 from yesterday's close. Dec 22 Soymeal closed at $389.2/short ton, down $17...
Market Commentary: Some Tweaks but Bearish Weather
Trading was mostly lower before USDA released its Acreage and Stocks reports at noon eastern time today. The reports could have been market movers but much of what they said was already expected to some degree. Once released, they confirmed the bearish tone that was already in play but was poss...
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Summary of Futures
Dec 22 Corn closed at $6.075/bushel, down $0.1225 from yesterday's close. Sep 22 Wheat closed at $8.46/bushel, down $0.38 from yesterday's close. Nov 22 Soybeans closed at $13.9525/bushel, down $0.6275 from yesterday's close. Dec 22 Soymeal closed at $389.2/short ton, down $17...
Market Commentary: Some Tweaks but Bearish Weather
Trading was mostly lower before USDA released its Acreage and Stocks reports at noon eastern time today. The reports could have been market movers but much of what they said was already expected to some degree. Once released, they confirmed the bearish tone that was already in play but was poss...
Summary of Futures
Dec 22 Corn closed at $6.1975/bushel, down $0.34 from yesterday's close. Sep 22 Wheat closed at $8.84/bushel, down $0.46 from yesterday's close. Nov 22 Soybeans closed at $14.58/bushel, down $0.2025 from yesterday's close. Dec 22 Soymeal closed at $406.7/short ton, down $0.3 f...
Livestock
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Market Commentary: Some Tweaks but Bearish Weather
Trading was mostly lower before USDA released its Acreage and Stocks reports at noon eastern time today. The reports could have been market movers but much of what they said was already expected to some degree. Once released, they confirmed the bearish tone that was already in play but was poss...
Livestock Round Up: Hogs and Pigs Report Meets Market Expectations
As previewed on Tuesday, USDA released the quarterly Hogs and Pigs report yesterday. The report was neutral, coming very close to pre-report expectations. The inventory of all hogs and pigs as of 1 June was 72.5 million head. Compared to the last quarter, both the total inventory o...
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Market Commentary: Some Tweaks but Bearish Weather
Trading was mostly lower before USDA released its Acreage and Stocks reports at noon eastern time today. The reports could have been market movers but much of what they said was already expected to some degree. Once released, they confirmed the bearish tone that was already in play but was poss...
Livestock Round Up: Hogs and Pigs Report Meets Market Expectations
As previewed on Tuesday, USDA released the quarterly Hogs and Pigs report yesterday. The report was neutral, coming very close to pre-report expectations. The inventory of all hogs and pigs as of 1 June was 72.5 million head. Compared to the last quarter, both the total inventory o...
China In-Country Analysis
Livestock Live Hog Price Remains Hot, Jumps More Than 6 Percent in One Day Tuesday saw the national average live hog price single day increase of RMB 1.12/kg ($.08/lb.) or 6.3 percent to 18.94/kg ($1.28/lb.). As of yesterday, sixteen provinces, including, Anhui, Beijing, Fujian, Guangdong, Hebe...
Biofuels
4th of July, Russian Ruble, and Ethanol
Despite high gas prices, the American Automobile Association (AAA) is predicting heavy travel over this long weekend for the 4th of July holiday, forecasting the total to be roughly equal to 2019, prior to COVID. A few factors are at play for increased car travel: after two years of...
EPA’s Final RVO Rule
As Matt Herrington noted on Friday, the Environmental Protection Agency released the final required volume obligations (RVO) rule which set the biofuels blending levels for 2021 (retroactively) and 2022 (six months late, and five months into the compliance year). Following is the br...
No 1970’s Analog
The U.S. Federal Reserve is trying to accomplish a so-called soft-landing of the economy back down to a low inflation, modest growth, low unemployment scenario. An increasing number of voices are signaling their skepticism that this can be accomplished. Fed Chairman Jerome Powell even concedes...
4th of July, Russian Ruble, and Ethanol
Despite high gas prices, the American Automobile Association (AAA) is predicting heavy travel over this long weekend for the 4th of July holiday, forecasting the total to be roughly equal to 2019, prior to COVID. A few factors are at play for increased car travel: after two years of...
EPA’s Final RVO Rule
As Matt Herrington noted on Friday, the Environmental Protection Agency released the final required volume obligations (RVO) rule which set the biofuels blending levels for 2021 (retroactively) and 2022 (six months late, and five months into the compliance year). Following is the br...
No 1970’s Analog
The U.S. Federal Reserve is trying to accomplish a so-called soft-landing of the economy back down to a low inflation, modest growth, low unemployment scenario. An increasing number of voices are signaling their skepticism that this can be accomplished. Fed Chairman Jerome Powell even concedes...
Dwindling Diesel Stocks, Increasing Demand
Add diesel fuel supplies to market anxieties over shortages and high prices. Diesel hit all-time record prices this week. Both gasoline and diesel rose sharply after Russia’s invasion of Ukraine, but in the last two weeks, diesel prices spiked again. And the medium-term outlook remains bu...
Farm Inputs
Green Food Crisis; Geopolitical Collusion
Green Food Crisis Regardless of the war in Ukraine and a global food price shock, the EU is moving forward with its plan to cut by half the use of “risky” pesticides by 2030. The goal is to replace them with “safe and sustainable alternatives.” For some, it looks like ad...
War on Energy and Food
While the price of Brent crude is up 12 percent since Friday, fertilizer has increased 33 percent. Fertilizer values are priced to energy but now seem to be outpacing it. Crop nutrients have been hit by a trifecta of higher energy input costs, soaring demand and low supplies. Agricultural commo...
Getting Away with It; On Message, Out of Tune; Its Complicated
Getting Away with It The threats of sanctions did not deter Vladimir Putin’s invasion of Ukraine and there is no reason to believe their implementation will now reverse the situation. The aggression has created much for the transatlantic alliance to ponder. First and foremost is China, wh...
Green Food Crisis; Geopolitical Collusion
Green Food Crisis Regardless of the war in Ukraine and a global food price shock, the EU is moving forward with its plan to cut by half the use of “risky” pesticides by 2030. The goal is to replace them with “safe and sustainable alternatives.” For some, it looks like ad...
War on Energy and Food
While the price of Brent crude is up 12 percent since Friday, fertilizer has increased 33 percent. Fertilizer values are priced to energy but now seem to be outpacing it. Crop nutrients have been hit by a trifecta of higher energy input costs, soaring demand and low supplies. Agricultural commo...
Getting Away with It; On Message, Out of Tune; Its Complicated
Getting Away with It The threats of sanctions did not deter Vladimir Putin’s invasion of Ukraine and there is no reason to believe their implementation will now reverse the situation. The aggression has created much for the transatlantic alliance to ponder. First and foremost is China, wh...
Eye on Weather for 2022 Considering Fertilizer Prices
There has been much discussion and focus on the weather conditions in South America, and Brazil in particular where it has been dry across the central and southern parts of the country. Heavy rains are also causing crop loss in some of the northern areas. The forecast is for more La Nina effect...
Equities
Summary of Futures
Mar 21 Corn closed at $4.2375/bushel, up $0.03 from yesterday's close. Mar 21 Wheat closed at $5.885/bushel, up $0.1125 from yesterday's close. Jan 21 Soybeans closed at $11.53/bushel, down $0.09 from yesterday's close. Jan 21 Soymeal closed at $385.6/short ton, down $4.6 from...
Summary of Futures
Dec 20 Corn closed at $4.1625/bushel, up $0.0575 from yesterday's close. Dec 20 Wheat closed at $5.98/bushel, up $0.045 from yesterday's close. Jan 21 Soybeans closed at $11.535/bushel, up $0.055 from yesterday's close. Dec 20 Soymeal closed at $389.3/short ton, up $1.2 from y...
Historical Coronavirus Impacts
While agricultural commodity values have been adversely impacted by the latest coronavirus afflicting human populations, it has been nothing like the beating being taken by the equities markets. In both cases there is a view that the selloff has been exaggerated. In the parlance of Chicago, ove...
Summary of Futures
Mar 21 Corn closed at $4.2375/bushel, up $0.03 from yesterday's close. Mar 21 Wheat closed at $5.885/bushel, up $0.1125 from yesterday's close. Jan 21 Soybeans closed at $11.53/bushel, down $0.09 from yesterday's close. Jan 21 Soymeal closed at $385.6/short ton, down $4.6 from...
Summary of Futures
Dec 20 Corn closed at $4.1625/bushel, up $0.0575 from yesterday's close. Dec 20 Wheat closed at $5.98/bushel, up $0.045 from yesterday's close. Jan 21 Soybeans closed at $11.535/bushel, up $0.055 from yesterday's close. Dec 20 Soymeal closed at $389.3/short ton, up $1.2 from y...
Historical Coronavirus Impacts
While agricultural commodity values have been adversely impacted by the latest coronavirus afflicting human populations, it has been nothing like the beating being taken by the equities markets. In both cases there is a view that the selloff has been exaggerated. In the parlance of Chicago, ove...
Market Commentary
President Trump’s Twitter account was in overdrive this morning as he lashed out at China in a series of tweets, including a note that U.S. companies are “hereby ordered” to find alternatives to that country. This could be part of a bizarre negotiating strategy, a knee-jerk re...
Energy
Summary of Futures
Dec 22 Corn closed at $6.5375/bushel, down $0.055 from yesterday's close. Sep 22 Wheat closed at $9.3/bushel, down $0.06 from yesterday's close. Nov 22 Soybeans closed at $14.7825/bushel, up $0.1575 from yesterday's close. Jul 22 Soymeal closed at $463.2/short ton, up $8.1 fro...
Summary of Futures
Jul 22 Corn closed at $7.595/bushel, up $0.1525 from yesterday's close. Sep 22 Wheat closed at $9.36/bushel, up $0.185 from yesterday's close. Jul 22 Soybeans closed at $16.6375/bushel, up $0.3325 from yesterday's close. Jul 22 Soymeal closed at $455.1/short ton, up $12.4 from...
Summary of Futures
Jul 22 Corn closed at $7.4425/bushel, down $0.06 from yesterday's close. Sep 22 Wheat closed at $9.175/bushel, down $0.19 from yesterday's close. Jul 22 Soybeans closed at $16.305/bushel, up $0.1975 from yesterday's close. Jul 22 Soymeal closed at $442.7/short ton, up $10.1 fr...
Summary of Futures
Dec 22 Corn closed at $6.5375/bushel, down $0.055 from yesterday's close. Sep 22 Wheat closed at $9.3/bushel, down $0.06 from yesterday's close. Nov 22 Soybeans closed at $14.7825/bushel, up $0.1575 from yesterday's close. Jul 22 Soymeal closed at $463.2/short ton, up $8.1 fro...
Summary of Futures
Jul 22 Corn closed at $7.595/bushel, up $0.1525 from yesterday's close. Sep 22 Wheat closed at $9.36/bushel, up $0.185 from yesterday's close. Jul 22 Soybeans closed at $16.6375/bushel, up $0.3325 from yesterday's close. Jul 22 Soymeal closed at $455.1/short ton, up $12.4 from...
Summary of Futures
Jul 22 Corn closed at $7.4425/bushel, down $0.06 from yesterday's close. Sep 22 Wheat closed at $9.175/bushel, down $0.19 from yesterday's close. Jul 22 Soybeans closed at $16.305/bushel, up $0.1975 from yesterday's close. Jul 22 Soymeal closed at $442.7/short ton, up $10.1 fr...
Summary of Futures
Jul 22 Corn closed at $7.5025/bushel, up $0.035 from yesterday's close. Sep 22 Wheat closed at $9.365/bushel, down $0.1275 from yesterday's close. Jul 22 Soybeans closed at $16.1075/bushel, up $0.175 from yesterday's close. Jul 22 Soymeal closed at $432.6/short ton, up $5.9 fr...
Softs
Toughest Commodity Business
While many agricultural commodities are experiencing a boom in demand and prices, orange juice consumption has plummeted worldwide. Global demand over the past decade has fallen by 12.6 percent. U.S. consumption has dropped by 29 percent over that period and Europe, the largest consumer of the...
It’s More Than Food
In Japan, rice has been called the essence of culture; it has meant more than just food, though food security is the basis for policy interventions to protect it. Despite the nostalgia and market controls, rice on paddy fields is declining, giving way to more profitable wheat and soybeans that...
Dominance in Rice
India is the world’s largest exporter of rice and Refinitiv points out that India’s export rice prices have been consistently lower than that of Thailand and Vietnam for the past two years. India is exporting roughly twice the amount of rice as Thailand and Vietnam combined. India h...
Toughest Commodity Business
While many agricultural commodities are experiencing a boom in demand and prices, orange juice consumption has plummeted worldwide. Global demand over the past decade has fallen by 12.6 percent. U.S. consumption has dropped by 29 percent over that period and Europe, the largest consumer of the...
It’s More Than Food
In Japan, rice has been called the essence of culture; it has meant more than just food, though food security is the basis for policy interventions to protect it. Despite the nostalgia and market controls, rice on paddy fields is declining, giving way to more profitable wheat and soybeans that...
Dominance in Rice
India is the world’s largest exporter of rice and Refinitiv points out that India’s export rice prices have been consistently lower than that of Thailand and Vietnam for the past two years. India is exporting roughly twice the amount of rice as Thailand and Vietnam combined. India h...
White Commodities
The U.S. rice industry motivated its politicians to attack USTR Katherine Tai last week as she made the rounds on Capitol Hill. The main point of their ire is India, which they claim uses subsidies far more than WTO rules allow. Indeed, India has subsidized agriculture to the point that its ric...
Macroeconomics
Friday Trade Policy Shorts; Bets on Grain and Implementation
Friday Trade Policy Shorts EU Procedural: Jurisdictional issues arise as the pesticide restrictions proposed in the EU fall under DG-Sante, but the funding to support the policy change is in the CAP managed by DG-Agri, with the later not invited to the key meetings. Plus, the EU Parliament&rsqu...
4th of July, Russian Ruble, and Ethanol
Despite high gas prices, the American Automobile Association (AAA) is predicting heavy travel over this long weekend for the 4th of July holiday, forecasting the total to be roughly equal to 2019, prior to COVID. A few factors are at play for increased car travel: after two years of...
Staying in Lanes; Goodbye Ag; East-West Helps the Poor
Staying in Lanes Under ideal governance, elected legislatures create the principles of public policy. For example, pesticides should be used when proven scientifically safe and banned when proven harmful. Regulators then implement those principles using expertise uniquely held by impartial expe...
Friday Trade Policy Shorts; Bets on Grain and Implementation
Friday Trade Policy Shorts EU Procedural: Jurisdictional issues arise as the pesticide restrictions proposed in the EU fall under DG-Sante, but the funding to support the policy change is in the CAP managed by DG-Agri, with the later not invited to the key meetings. Plus, the EU Parliament&rsqu...
4th of July, Russian Ruble, and Ethanol
Despite high gas prices, the American Automobile Association (AAA) is predicting heavy travel over this long weekend for the 4th of July holiday, forecasting the total to be roughly equal to 2019, prior to COVID. A few factors are at play for increased car travel: after two years of...
Staying in Lanes; Goodbye Ag; East-West Helps the Poor
Staying in Lanes Under ideal governance, elected legislatures create the principles of public policy. For example, pesticides should be used when proven scientifically safe and banned when proven harmful. Regulators then implement those principles using expertise uniquely held by impartial expe...
Properly Characterizing China; Concrete Plan Needed
Properly Characterizing China Former President Donald Trump had a lot of choice descriptors for China, many of them crude. Europe tried the term “strategic competitor” but that sounded relatively benign. The G-7 this past weekend more properly gave the Middle Kingdom the moniker of...
Pulses
Year of the Pulse
The International Grains Council (IGC) announced that it will include pulses in its definition of grains and expand market information on these products. Trade in pulses has been increasing as they grow in stature as a staple food and plant-based protein. The pod-based seeds of the legume famil...
An IPO-Level Look at the Veggie Burger Sector
Beyond Meat, the maker of a vegetable protein meat alternative product, is preparing for an IPO. It will be offering 8.75 million shares at $19-21, which would raise $175 million at the mid-point price. The company’s cornerstone product is the Beyond Burger, which is now available at a nu...
Indian Subcontinent Regional Analysis
Higher Early Sugar Production and Slow Exports Could Pressure Prices Due to the early start of the 2018/19 sugarcane crushing season, Indian sugar mills were able to produce 21.93 MMT of sugar as of 15 February 2019 versus 20.36 MMT at the same point a year ago, an increase of 7.71 percent. Ano...
Year of the Pulse
The International Grains Council (IGC) announced that it will include pulses in its definition of grains and expand market information on these products. Trade in pulses has been increasing as they grow in stature as a staple food and plant-based protein. The pod-based seeds of the legume famil...
An IPO-Level Look at the Veggie Burger Sector
Beyond Meat, the maker of a vegetable protein meat alternative product, is preparing for an IPO. It will be offering 8.75 million shares at $19-21, which would raise $175 million at the mid-point price. The company’s cornerstone product is the Beyond Burger, which is now available at a nu...
Indian Subcontinent Regional Analysis
Higher Early Sugar Production and Slow Exports Could Pressure Prices Due to the early start of the 2018/19 sugarcane crushing season, Indian sugar mills were able to produce 21.93 MMT of sugar as of 15 February 2019 versus 20.36 MMT at the same point a year ago, an increase of 7.71 percent. Ano...
Indian Subcontinent Regional Analysis
Sugar Production Estimates Lowered Based on new satellite survey data from the Indian Sugar Mills Association’s (ISMA’s) satellite survey of sugarcane plantings, the sugar production estimate has been decreased from 31.5 MMT to 30.7 MMT. That is 4.3 MMT or 12.28 percent lower than t...
Freight
FOB Prices and Freight Rate App (Updated 30 June)
Ocean Freight Comments - 30 June 2022 By Jay O'Neil Commodity Consulting Dry-bulk markets continued to slide for most of the week but appeared to hit a bottom and bounced up a little at the week’s end. Volatility is obviously a constant in the markets these days. It was the Capesize secto...
Interactive Ocean Freight Rates (Updated 30 June)
Ocean Freight Comments - 30 June 2022 By Jay O'Neil Commodity Consulting Dry-bulk markets continued to slide for most of the week but appeared to hit a bottom and bounced up a little at the week’s end. Volatility is obviously a constant in the markets these days. It was the Capesize sect...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt is hoping to increase the 2023 planted area by 1 million acres. In order to do this, it will have to reclaim desert lands and use existing underground water supplies. Egypt also plans to improve the seed sto...
FOB Prices and Freight Rate App (Updated 30 June)
Ocean Freight Comments - 30 June 2022 By Jay O'Neil Commodity Consulting Dry-bulk markets continued to slide for most of the week but appeared to hit a bottom and bounced up a little at the week’s end. Volatility is obviously a constant in the markets these days. It was the Capesize secto...
Interactive Ocean Freight Rates (Updated 30 June)
Ocean Freight Comments - 30 June 2022 By Jay O'Neil Commodity Consulting Dry-bulk markets continued to slide for most of the week but appeared to hit a bottom and bounced up a little at the week’s end. Volatility is obviously a constant in the markets these days. It was the Capesize sect...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt is hoping to increase the 2023 planted area by 1 million acres. In order to do this, it will have to reclaim desert lands and use existing underground water supplies. Egypt also plans to improve the seed sto...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Saudi Arabia’s Almarai Dairy Products will be investing $107 million in its poultry operations for expansion of grandparent stock and in seafood processing. In 2021 the company said that it would be doubling...