Milling Wheat The Black Sea market was firmer last week in sympathy with the CBOT and Matif futures. Russia has exported about 33.8 MMT thus far in the current campaign against an expected total of 34.5-35 MMT. The weather in that country and Ukraine may not be perfect everywhere for wheat development, but there is nothing worrisome for the time being. The crops are estimated at 80-83 MMT in Russia and 27-29 MMT in Ukraine. The EU has exported 18.4 MMT so far versus 18.6 MMT at the same time last year. With six weeks remaining until the end of the campaign, the total for 2018/19 is expected to be very similar to last year’s 20.5 MMT. The weather in Romania and Bulgaria is favorable for wheat development with frequent rains and mild...
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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