Feed Grains
Market Commentary: Soyoil Collapses on Global Vegoil Weakness; Dakota Rains Again Pressure Grains
Weaker technical conditions, limit-down soyoil, and more rains for the Dakotas conspired to push the CBOT sharply lower on Friday. Thursday’s WASDE should have been supportive for corn, but overnight rains in the northern Plains gave bulls pains. Today concludes the index fund roll, which...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Summary of Futures
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
Market Commentary: Soyoil Collapses on Global Vegoil Weakness; Dakota Rains Again Pressure Grains
Weaker technical conditions, limit-down soyoil, and more rains for the Dakotas conspired to push the CBOT sharply lower on Friday. Thursday’s WASDE should have been supportive for corn, but overnight rains in the northern Plains gave bulls pains. Today concludes the index fund roll, which...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Summary of Futures
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
PM Post - Back and Forth
THE OPEN July beans: 10 lower July meal: 1.10 lower July soyoil: 230 pts lower Julu corn: 9 lower July wheat: 7 1/2 lower The markets opened lower and continued to sell-off on weaker technical considerations, more rains across northern portions of the country...
Soy & Oilseeds
Market Commentary: Soyoil Collapses on Global Vegoil Weakness; Dakota Rains Again Pressure Grains
Weaker technical conditions, limit-down soyoil, and more rains for the Dakotas conspired to push the CBOT sharply lower on Friday. Thursday’s WASDE should have been supportive for corn, but overnight rains in the northern Plains gave bulls pains. Today concludes the index fund roll, which...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Summary of Futures
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
Market Commentary: Soyoil Collapses on Global Vegoil Weakness; Dakota Rains Again Pressure Grains
Weaker technical conditions, limit-down soyoil, and more rains for the Dakotas conspired to push the CBOT sharply lower on Friday. Thursday’s WASDE should have been supportive for corn, but overnight rains in the northern Plains gave bulls pains. Today concludes the index fund roll, which...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Summary of Futures
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
PM Post - Back and Forth
THE OPEN July beans: 10 lower July meal: 1.10 lower July soyoil: 230 pts lower Julu corn: 9 lower July wheat: 7 1/2 lower The markets opened lower and continued to sell-off on weaker technical considerations, more rains across northern portions of the country...
Wheat
Market Commentary: Soyoil Collapses on Global Vegoil Weakness; Dakota Rains Again Pressure Grains
Weaker technical conditions, limit-down soyoil, and more rains for the Dakotas conspired to push the CBOT sharply lower on Friday. Thursday’s WASDE should have been supportive for corn, but overnight rains in the northern Plains gave bulls pains. Today concludes the index fund roll, which...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Summary of Futures
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
Market Commentary: Soyoil Collapses on Global Vegoil Weakness; Dakota Rains Again Pressure Grains
Weaker technical conditions, limit-down soyoil, and more rains for the Dakotas conspired to push the CBOT sharply lower on Friday. Thursday’s WASDE should have been supportive for corn, but overnight rains in the northern Plains gave bulls pains. Today concludes the index fund roll, which...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Summary of Futures
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
PM Post - Back and Forth
THE OPEN July beans: 10 lower July meal: 1.10 lower July soyoil: 230 pts lower Julu corn: 9 lower July wheat: 7 1/2 lower The markets opened lower and continued to sell-off on weaker technical considerations, more rains across northern portions of the country...
Livestock
Market Commentary: Soyoil Collapses on Global Vegoil Weakness; Dakota Rains Again Pressure Grains
Weaker technical conditions, limit-down soyoil, and more rains for the Dakotas conspired to push the CBOT sharply lower on Friday. Thursday’s WASDE should have been supportive for corn, but overnight rains in the northern Plains gave bulls pains. Today concludes the index fund roll, which...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Summary of Futures
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
Market Commentary: Soyoil Collapses on Global Vegoil Weakness; Dakota Rains Again Pressure Grains
Weaker technical conditions, limit-down soyoil, and more rains for the Dakotas conspired to push the CBOT sharply lower on Friday. Thursday’s WASDE should have been supportive for corn, but overnight rains in the northern Plains gave bulls pains. Today concludes the index fund roll, which...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Summary of Futures
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
Market Commentary: That Was Fun
The markets started the day bullishly for corn and soybeans but with losses in wheat. Post the USDA WASDE report things changed. Larger soybean stocks flipped that market red but not until after some curious delay. And there was notable bull spreading that split the contracts. Soybeans, meal, o...
Biofuels
RINs and Repeat of RFS Waivers
When it comes to biofuels policy and the White House, it is the same song but in a different key. The Biden White House is caught between two political base constituencies, environmentalists and labor. The groups are different than they were for the Trump Administration - agriculture and petrol...
Ag Review - May 2021
WPI's monthly publication features a review of the past month's market and policy analysis articles. This month we examine issues surrounding market demand for ethanol, pork, and poultry, as well as future issues impacting the agriculture sector and the politics surrounding them. You’ll a...
2021 and 2022 RVOs Could be Kept at 2020 Levels
The EPA is floating a trial balloon of maintaining the 2020 RVOs for 2021 and 2022. In April, a group of Senators urged EPA to add 500 million gallons to the ethanol RVO to amend for the 2016 court case that ruled the EPA improperly waived that amount, and to “increase biodiesel, advanced...
RINs and Repeat of RFS Waivers
When it comes to biofuels policy and the White House, it is the same song but in a different key. The Biden White House is caught between two political base constituencies, environmentalists and labor. The groups are different than they were for the Trump Administration - agriculture and petrol...
Ag Review - May 2021
WPI's monthly publication features a review of the past month's market and policy analysis articles. This month we examine issues surrounding market demand for ethanol, pork, and poultry, as well as future issues impacting the agriculture sector and the politics surrounding them. You’ll a...
2021 and 2022 RVOs Could be Kept at 2020 Levels
The EPA is floating a trial balloon of maintaining the 2020 RVOs for 2021 and 2022. In April, a group of Senators urged EPA to add 500 million gallons to the ethanol RVO to amend for the 2016 court case that ruled the EPA improperly waived that amount, and to “increase biodiesel, advanced...
Ethanol Price Impact
The June ethanol futures contract hit a record high last week at $2.29/gallon but that may not have a lasting effect on exports. The market has been in recovery mode as transportation fuel demand recovers from COVID restrictions that had sent ethanol values last year to a 10-year record low of...
Farm Inputs
CPTPP Appeal; Food Opponents; TRIPS for Free
CPTPP Appeal China’s aggressive effort to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) may be having an unintended effect – causing the U.S. to reconsider its previous rejection of such an agreement. If China were to join, which seems unlike...
AM Outlook - Overbought?
GOOD MORNING, Prices are higher across the board this morning as beans and soyoil place new contract highs for the week, continuing strong up-trends. Crude oil is firmer, which underpins the soyoil market, though Asian values are a bit lower this AM. Higher world vegoil markets in t...
Exporting Water
The latest mantra from development specialists is concern about the future availability of water. It is an old topic but a durable one given the preciousness of the resource. Since 70 percent of the withdrawals of freshwater around the world are for agriculture, and 60 percent more food must be...
CPTPP Appeal; Food Opponents; TRIPS for Free
CPTPP Appeal China’s aggressive effort to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) may be having an unintended effect – causing the U.S. to reconsider its previous rejection of such an agreement. If China were to join, which seems unlike...
AM Outlook - Overbought?
GOOD MORNING, Prices are higher across the board this morning as beans and soyoil place new contract highs for the week, continuing strong up-trends. Crude oil is firmer, which underpins the soyoil market, though Asian values are a bit lower this AM. Higher world vegoil markets in t...
Exporting Water
The latest mantra from development specialists is concern about the future availability of water. It is an old topic but a durable one given the preciousness of the resource. Since 70 percent of the withdrawals of freshwater around the world are for agriculture, and 60 percent more food must be...
Green on Black Equals Red; Fake Honey
Green Impact on Black Equals Red Activists in Europe are protesting against today’s “Black Friday” shopping extravaganza. They argue that the environmental externalities of consumerism will destroy the planet. This begs the question of whether commercial minimalism will destro...
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
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
Summary of Futures
Jul 21 Corn closed at $6.99/bushel, up $0.0825 from yesterday's close. Jul 21 Wheat closed at $6.8375/bushel, up $0.015 from yesterday's close. Jul 21 Soybeans closed at $15.44/bushel, down $0.185 from yesterday's close. Jul 21 Soymeal closed at $381.6/short ton, down $4.8 fro...
Summary of Futures
Jul 21 Corn closed at $6.8/bushel, up $0.0075 from yesterday's close. Jul 21 Wheat closed at $6.85/bushel, up $0.05 from yesterday's close. Jul 21 Soybeans closed at $15.8/bushel, up $0.1975 from yesterday's close. Jul 21 Soymeal closed at $389.8/short ton, up $2.9 from yester...
Summary of Futures
Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close. Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close. Jul 21 Soybeans closed at $15.085/bushel, down $0.355 from yesterday's close. Jul 21 Soymeal closed at $383.3/short ton, up $1.7 f...
Summary of Futures
Jul 21 Corn closed at $6.99/bushel, up $0.0825 from yesterday's close. Jul 21 Wheat closed at $6.8375/bushel, up $0.015 from yesterday's close. Jul 21 Soybeans closed at $15.44/bushel, down $0.185 from yesterday's close. Jul 21 Soymeal closed at $381.6/short ton, down $4.8 fro...
Summary of Futures
Jul 21 Corn closed at $6.8/bushel, up $0.0075 from yesterday's close. Jul 21 Wheat closed at $6.85/bushel, up $0.05 from yesterday's close. Jul 21 Soybeans closed at $15.8/bushel, up $0.1975 from yesterday's close. Jul 21 Soymeal closed at $389.8/short ton, up $2.9 from yester...
Summary of Futures
Jul 21 Corn closed at $6.7925/bushel, down $0.035 from yesterday's close. Jul 21 Wheat closed at $6.8/bushel, down $0.0775 from yesterday's close. Jul 21 Soybeans closed at $15.6025/bushel, down $0.235 from yesterday's close. Jul 21 Soymeal closed at $386.9/short ton, down $9...
Softs
2021 Sour Domestic Sugar Outlook
The MY 2020/21 outlook for sugar is for more domestic production and a reduction in imports, but with lower deliveries and increasing year-end stocks. Beet sugar production is up 133,662 short tons – raw value (STRV) based on higher extraction rates in Minnesota and North Dakota. Cane pro...
Agriculture and RCEP
Asian leaders gather this Sunday to hopefully put the final touches on a trade agreement called the Regional Comprehensive Economic Partnership (RCEP). The negotiations have taken eight years and, as usual, the word comprehensive does not apply to agriculture. Likely exempt from tariff reductio...
CFTC Approves Commodity Position Limits
One common thread running through part of the history of grain trading has been the subject of federally set limits on the size of positions that a trader could hold in grain and oilseed futures and options. On 15 October, the CFTC finally approved a new rule regarding commodity position limits...
2021 Sour Domestic Sugar Outlook
The MY 2020/21 outlook for sugar is for more domestic production and a reduction in imports, but with lower deliveries and increasing year-end stocks. Beet sugar production is up 133,662 short tons – raw value (STRV) based on higher extraction rates in Minnesota and North Dakota. Cane pro...
Agriculture and RCEP
Asian leaders gather this Sunday to hopefully put the final touches on a trade agreement called the Regional Comprehensive Economic Partnership (RCEP). The negotiations have taken eight years and, as usual, the word comprehensive does not apply to agriculture. Likely exempt from tariff reductio...
CFTC Approves Commodity Position Limits
One common thread running through part of the history of grain trading has been the subject of federally set limits on the size of positions that a trader could hold in grain and oilseed futures and options. On 15 October, the CFTC finally approved a new rule regarding commodity position limits...
Could Be More Bearish
Trading grain is not as sexy now as it was back in 2007-2008, but it could be worse. Orange juice futures were a big deal in 1983 when the movie Trading Places was a Hollywood hit but the underlying commodity has been falling out of favor in recent years. Global production and trade have been t...
Macroeconomics
Hunger Saves the Earth
The UN’s Global Goals for Sustainable Development are largely being written by NGO’s from rich countries, which is making some of the world’s poorest countries skeptical about their implications. Europe is pushing for UN sustainability goals that largely mimic its own Farm to...
Short OJ Break
Reports indicated that the global pandemic caused a resurgence in the consumption of orange juice under the belief that its high vitamin C content strengthens the immune system. If there was a rebound, it was a small and short one. Between 2014/15 and 2018/19, global orange juice consumption fe...
Eggs versus People
Among the animal proteins, only milk has lower GHG emissions than poultry eggs. This is because in a sense, they are both renewable farm products. A cow produces thousands of pounds of milk and a hen lays hundreds of eggs. The egg industry is emphasizing its sustainability attributes in a bid t...
Hunger Saves the Earth
The UN’s Global Goals for Sustainable Development are largely being written by NGO’s from rich countries, which is making some of the world’s poorest countries skeptical about their implications. Europe is pushing for UN sustainability goals that largely mimic its own Farm to...
Short OJ Break
Reports indicated that the global pandemic caused a resurgence in the consumption of orange juice under the belief that its high vitamin C content strengthens the immune system. If there was a rebound, it was a small and short one. Between 2014/15 and 2018/19, global orange juice consumption fe...
Eggs versus People
Among the animal proteins, only milk has lower GHG emissions than poultry eggs. This is because in a sense, they are both renewable farm products. A cow produces thousands of pounds of milk and a hen lays hundreds of eggs. The egg industry is emphasizing its sustainability attributes in a bid t...
COOL Report
The requirement in the U.S. for country-of-origin labeling became effective in 2008 and by 2015 legislators were writing its repeal. The way it had been designed was ruled protectionist by the WTO and yet every year a certain group of politicians seek a return to the mandate, largely due to pre...
Pulses
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...
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...
Indian Subcontinent Regional Analysis
Rabi Sowing Down As of 18 January 2019, the total rabi planted area was down 4.8 percent versus 2017/18. While wheat is among the crops affected, pulses and coarse cereals, most especially pearl millet, are down significantly (see table below). The overal oilseed area has been good, however, as...
Freight
FOB Prices and Freight Rate App (Updated 11 June)
Ocean Freight Comments - 10 June 2021 By Jay O'Neil Commodity Consulting The Capesize market remains soft as cargo demand out of Australia and Brazil has not yet improved. Short covering in the Panamax sector has supported values and allowed Panamax and Supramax markets’ daily hire rates...
Interactive Ocean Freight Rates (Updated 11 June)
Ocean Freight Comments - 10 June 2021 By Jay O'Neil Commodity Consulting The Capesize market remains soft as cargo demand out of Australia and Brazil has not yet improved. Short covering in the Panamax sector has supported values and allowed Panamax and Supramax markets’ daily hire ra...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA There hasn’t been this much news coverage of the Suez Canal since the crisis in 1956. Happily, the worst of the problem seems to be over with the grounded vessel now cleared and only the significant back-up of vessels to be dea...
FOB Prices and Freight Rate App (Updated 11 June)
Ocean Freight Comments - 10 June 2021 By Jay O'Neil Commodity Consulting The Capesize market remains soft as cargo demand out of Australia and Brazil has not yet improved. Short covering in the Panamax sector has supported values and allowed Panamax and Supramax markets’ daily hire rates...
Interactive Ocean Freight Rates (Updated 11 June)
Ocean Freight Comments - 10 June 2021 By Jay O'Neil Commodity Consulting The Capesize market remains soft as cargo demand out of Australia and Brazil has not yet improved. Short covering in the Panamax sector has supported values and allowed Panamax and Supramax markets’ daily hire ra...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA There hasn’t been this much news coverage of the Suez Canal since the crisis in 1956. Happily, the worst of the problem seems to be over with the grounded vessel now cleared and only the significant back-up of vessels to be dea...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA The latest FAO report on Yemen shows that the 2020 grain harvest is down by about 5 percent at 365,000 MT and only covers less than 20 percent of the country's grain needs. Imports for 2021 are expected to be at 4.3 MMT: 3.2 MMT of w...