Gatun Lake, the artificial lake which discharges water into the locks of the Panama Canal, for transit between the Atlantic and the Pacific is down to the lowest level since 1995.
October precipitation has been the lowest since 1950 and is down 41 percent from normal. New forecasts peg rainfall to remain 38 percent below normal for the rest of the year. Thus, the Canal Authority has announced more shipping restrictions. Since the end of July, the Authority reduced capacity to 32 vessels per day; historically the average is around 40 ships. That caused a back-up in August of 160 vessels. Neopanamax vessels faced an average wait of 17 days. Yesterday the authority announced that starting 3 November booking slots...
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...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
