Regional News As noted everywhere, the biggest news in European regional grain markets this week is the end of the Black Sea grain export initiative and Russia’s subsequent aggressive attacks on Ukraine’s Black Sea ports. The attacks, combined with insurers declaring the area a “war zone” and pulling coverage have quenched any hopes that Ukraine could use these ports in the near-term to ship agricultural products. Now, Ukraine is faced with two export routes, via the Danube River down to Romania or via rail into western Europe. Even exports through the Danube seem questionable given a Reuters report this morning that grain storage warehouses were hit overnight in the port of Reni on the Danube. Milling...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
Key Takeaways: The Panama Canal’s draft restrictions and decreasing rainfall outlook are driving big moves in dry bulk markets this week. Panamax markets are sharply lower as the economics of moving freight across the Canal are deteriorating rapidly, leading to support in Supramax vessels...
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