Milling Wheat The Black Sea market remained about unchanged last week. Russia continues to export about 1 MMT of wheat per week, and the total since the start of the campaign is nearing 20 MMT. Winter is approaching, and the expected freeze in about a week could complicate interior logistics as well as slow the export pace. The USD has rallied sharply against the EUR today. Consequently, EU wheat is more competitive versus Black Sea origin, but Russian wheat remains the cheapest for the major destinations. The market in Romania and Bulgaria was also unchanged last week, although the weaker EUR and lower prices in USD will certainly attract more buying interest for both countries’ wheat in the coming days/weeks. The winter wheat con...
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...
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