The U.S. – China trade war is cooling off, fears of a major economic recession have receded and commodity prices are projected to climb, but the bearish leaning pundits still see plenty to fear in 2020:
China: The trade war may be in remission, but China’s economy is still slowing and may drop below 6 percent GDP growth for the first time since 1990. The Hong Kong protests go unabated and Beijing fears they could spread to the Mainland. EU: Having tackled China, Japan, Korea, plus Canada and Mexico, Mr. Trump now turns his trade fight sights onto Europe in 2020. His most recent salvo was the imposition of sanctions intended to slow Europe’s acquisition of cheaper energy via Nord Stream 2. At minimum, his rhetoric...
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...
