Soybeans The soybean markets finally started moving with China actively buying at the beginning of last week. Crushers there decided to move after President Trump’s tweet suggesting that U.S. and Chinese officials might not meet in September. They assume there will be no opportunity to buy U.S. soybeans in the near future, and modest improvements in their margins prompted the decision to secure supplies from South America. It is now clear that demand has only been moving when crush margins are positive. Last week showed sudden demand for nearby positions. Buyers have been interested in securing spot soybeans to take advantage of the cheapest basis. However, that pushed spot basis higher and reduced the carry from 11-12 cents/m...
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...
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