The market in Bulgaria and Romania is slightly more active due to the price rally of Russian and Ukrainian wheat. Romania sold a cargo to Egypt’s GASC, and the Bulgarian feed wheat is now the cheapest origin for the Spanish Mediterranean ports. Milling Wheat The Black Sea market was significantly firmer last week as a result of slow farmer selling and the stronger Russian ruble. Russian wheat is about $15 higher from the lows of mid-September when the exchange rate was around 69 rubles per USD. Today, it is 61 rubles or approximately 12 percent higher. The drought threatening the winter wheat’s early development in eastern Ukraine and western Russia remains a concern, but there is rainfall in the regional forecast for next week.The EU all...
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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Accountability and a comprehensive approach to export programming
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