Milling Wheat The Black Sea market remained under pressure last week due to the absence of fresh demand for old crop wheat as well as the favorable weather prospects for the first half of May. Buyers/consumers in the main destinations seem to be covered for the next two months since they are only showing interest for the new crop. As their plan is to maintain the lowest possible stocks at the junction between the two campaigns, the earliest possible delivery they are seeking is July. The average trade estimates for the Russian and Ukrainian crops are around 80 MMT and 28 MMT, respectively, versus 72 MMT and 24.5 MMT, respectively, last year. The EU exported only 103,000 MT last week, bringing the total to 17.1 MMT versus 17.8 MMT at the s...
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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