GOOD MORNING, The markets continue to digest current USDA numbers, ProFarmer numbers, and trade war tensions that were ratcheted higher last week sending many markets lower. This morning the markets are higher on a combination of more positive news stories and funds now net short everything but soyoil. Lead headlines from Reuters indicate that:
Trump says Japan has agreed to buy a lot of US corn surplus. Specifically, out of the G-7 meeting Trump and Japan's Prime Minister Abe said they have agreed to buy excess US corn, and Abe referred to a potential purchase of US corn that would be handled by the private sector. Trade Rep Lighthizer said the agriculture portion of the Japan trade deal would cover wheat, pork...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
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...
