Last week's U.S. export inspections were again very big last week, and that highlights the ability to move grain and oilseeds from the interior to export facilities. Rail shuttle turn times have been incredibly fast, primarily because of two factors.
The record corn and soybean harvests coupled with very strong nearby export demand pushed interior rail shuttle freight premiums as high as $2,000 per car. That premium crashed suddenly over this past weekend to as low as a $200 per car for November through early December. Shuttle values drop to tariff levels after that, and some discounts to tariff are quoted in the January-March period. This is good news for interior (farmer) basis levels, which should improve because of the sharp reductio...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
