Regional News The biggest factor in European (and global) wheat markets this week is the rumor and analysis of Russia’s likely wheat export quotas and taxes. Russia’s economic minister confirmed that Russia is considering a decree that would put a €25/MT ($30.40/MT) export duty on shipments under a 17.5 MMT export quota. Wheat exports above the quota could face a tax of 50 percent but not less than €100/MT and the tax/quota system has proposed to be effective from 15 February through 30 June 2021. WPI notes that rumors abound but the Russian government has not issued a confirmed statement or decree on the matter. Notably, Russian wheat exports will likely reach 25 MMT by the end of December, and exporters...
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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