Key Takeaways:
Russia recently said it would convert existing export terminals in the Baltic and Arctic Seas to handle grain as the Black and Azov Seas remain closed to maritime trade. Futures markets reacted negatively to this news, but does the conversion matter to short-term and long-term grain trade? These terminal conversions could add 15-23 MMT of annual export capacity for the country, but actual throughput will likely be considerably less. Logistical constraints – primarily rail logistics – will undercut the terminal expansion and keep grain export flows via northern ports to modest levels. The near-term market impacts are mixed: the added northern port capacity could increase global wheat supplies by about 5 perc...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
Key Takeaways: With the fall calf run now upon us, producers are finally getting a glimpse of what their realized profits will be for 2026. Some producers may have already obtained a strong estimate of 2026 revenues, especially if calves were forward sold in, for example, the mid-summer...
