Key Takeaways:
Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive prices and gain market share in destinations such as Vietnam, North Africa and the Middle East. Argentina’s reliance on both corn and sugarcane/molasses as ethanol feedstocks limits domestic corn demand, allowing a greater share of its record crop to remain available for export. Growing corn ethanol capacity and the potential for a higher blending mandate (from 12 percent to 15 percent) could increase domestic corn demand and gradually reduce the a...
What You Need to Know Today: A drier early-October forecast should help harvest accelerate across areas of the western Corn Belt that have been running behind, adding pressure to soybeans and soymeal today as concerns over near-term physical tightness begin to ease. Markets are still digesting...
Key Takeaways: Dry bulk markets are mixed this week with the Capesize sector seeing a sharp correction from its recent rally. Smaller vessel classes are steady/firmer but the Chinese Golden Week Holiday is pressuring near-term rates. Dry bulk freight did not receive the bullish boost it...
