Regional News Russia is expected to ship 28,000 MT of wheat to Algeria this month, the first shipment of wheat since December 2016. Russia has been lobbying for access to the Algerian market for years, a goal now possible after Algeria relaxed its bug damage tolerance levels last October. Russian access to the Algerian market will directly compete with European wheat exports. Europe is slated for widespread and meaningful rains this week, which will help end a recent dry streak across central and northern Europe. The UK, France, and the Black Sea region have all seen steady precipitation in recent weeks, aiding crop production potential. On Monday, the European Commission released its June yield forecasts, which reflected wid...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Dry bulk markets were volatile but ultimately steady this week with notable differences in rate developments across vessel classes. The Capesize sector, which led the recent rally in freight rates with its dramatic surge, pulled back slightly amid more cautious chartering activity, partic...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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