Argentina’s Wheat/Corn Trust The Argentine government is being creative in trying to control inflation rates. They are trying to control local wheat and corn prices by creating a “trust fund” for domestic market consumption. Exporters will have to contribute about $150 million to the fund (though the amount is not confirmed yet) that will be used to subsidize local consumers. What the government doesn’t realize, or won’t acknowledge, is that farmers will ultimately pay for the “trust fund” as exporters will extract their payment from the FAS prices they bid. Farmers are understandably furious with this decision (that has not yet been officially announced) and started meeting this weekend to...
What You Need to Know Today: Attention is turning toward Friday's USDA WASDE report, with traders looking for updated corn and soybean production estimates and revisions to domestic and global supply-and-demand balances. The report could help establish a clearer direction for grain price...
Key Takeaways: Dry bulk markets are mixed this week with the Capesize sector falling on the demand slump stemming from China’s Golden Week holiday while Panamax and smaller vessel class rates remain firm. The Atlantic’s first hurricane of the season, Hurricane Isaias, intensi...
Yesterday’s momentum is facing a tougher test today. Stocks and most grain markets have pulled back, while higher Treasury yields and a firmer dollar are making buyers work harder to defend the gains. Crude oil has turned lower, easing some immediate energy pressure, but the Fed minutes l...
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