Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA In Egypt, the Sues Canal Authority has announced plans to deepen and widen the southern stretch of the canal. The section between Suez City and Great Bitter Lake will be widened by 130 feet and deepened from 66 feet to 72 feet.
Bangladesh and Nepal may be importing Indian wheat in coming months with trade reports that 150,000 MT may be targeted for Bangladesh and 50,000 MT for Nepal. India is said to be able to export “significant quantities” of wheat this year. The USDA expects 2021/22 wheat exports by India to be at about 2.2 MMT. The latest USDA-FAS report on Bangladesh shows wheat imports for 2021/22 increasing by 500,000 MT to 6.5 MMT while local prod...
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...
