Feed Grains
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Market Commentary: Contract Highs to Start September; Demand Destruction is the Point
What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decisions on requests to exempt 34 small refineries from the requirements. The U.S. is stepping up attacks against Iran after two tankers carrying c...
EPA Announces 2025 SREs under the RFS: 1.76 Billion RINs
On Monday, 31 August, the U.S. Environmental Protection Agency (EPA) announced decisions for 34 small refinery exemption (SRE) petitions under the Renewable Fuel Standard (RFS) program for 2025. In consultation with the U.S. Department of Energy (DOE), EPA reviewed and considered information su...
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Market Commentary: Contract Highs to Start September; Demand Destruction is the Point
What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decisions on requests to exempt 34 small refineries from the requirements. The U.S. is stepping up attacks against Iran after two tankers carrying c...
EPA Announces 2025 SREs under the RFS: 1.76 Billion RINs
On Monday, 31 August, the U.S. Environmental Protection Agency (EPA) announced decisions for 34 small refinery exemption (SRE) petitions under the Renewable Fuel Standard (RFS) program for 2025. In consultation with the U.S. Department of Energy (DOE), EPA reviewed and considered information su...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt, at the end of July, is once again the largest importer of maize from Brazil at about 2.6 million MT from January to July — followed by Iran at 1.1 MMT, Algeria at 665,000 MT, Saudi Arabia at 435,000 MT, and Israel at...
Soy & Oilseeds
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Market Commentary: Contract Highs to Start September; Demand Destruction is the Point
What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decisions on requests to exempt 34 small refineries from the requirements. The U.S. is stepping up attacks against Iran after two tankers carrying c...
EPA Grants 29 SREs, but Reallocation is the Story
Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Market Commentary: Contract Highs to Start September; Demand Destruction is the Point
What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decisions on requests to exempt 34 small refineries from the requirements. The U.S. is stepping up attacks against Iran after two tankers carrying c...
EPA Grants 29 SREs, but Reallocation is the Story
Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt, at the end of July, is once again the largest importer of maize from Brazil at about 2.6 million MT from January to July — followed by Iran at 1.1 MMT, Algeria at 665,000 MT, Saudi Arabia at 435,000 MT, and Israel at...
Wheat
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Market Commentary: Contract Highs to Start September; Demand Destruction is the Point
What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decisions on requests to exempt 34 small refineries from the requirements. The U.S. is stepping up attacks against Iran after two tankers carrying c...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt, at the end of July, is once again the largest importer of maize from Brazil at about 2.6 million MT from January to July — followed by Iran at 1.1 MMT, Algeria at 665,000 MT, Saudi Arabia at 435,000 MT, and Israel at...
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Market Commentary: Contract Highs to Start September; Demand Destruction is the Point
What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decisions on requests to exempt 34 small refineries from the requirements. The U.S. is stepping up attacks against Iran after two tankers carrying c...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt, at the end of July, is once again the largest importer of maize from Brazil at about 2.6 million MT from January to July — followed by Iran at 1.1 MMT, Algeria at 665,000 MT, Saudi Arabia at 435,000 MT, and Israel at...
Summary of Futures
Dec 26 Corn closed at $5.3775/bushel, up $0.0125 from yesterday's close. Dec 26 Wheat closed at $7.74/bushel, down $0.1 from yesterday's close. Nov 26 Soybeans closed at $12.88/bushel, up $0 from yesterday's close. Dec 26 Soymeal closed at $345.3/short ton, down $3.6 from yest...
Livestock
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Market Commentary: Contract Highs to Start September; Demand Destruction is the Point
What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decisions on requests to exempt 34 small refineries from the requirements. The U.S. is stepping up attacks against Iran after two tankers carrying c...
Livestock Industry Margins
Beef packer margins improved sharply to $258/head last week, up $145 from the prior week as the Choice cutout strengthened while fed cattle prices declined. The cutout rose to nearly $382/cwt, while fed cattle prices fell to $219/cwt, extending the rapid recovery in packer spreads that began in...
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Market Commentary: Contract Highs to Start September; Demand Destruction is the Point
What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decisions on requests to exempt 34 small refineries from the requirements. The U.S. is stepping up attacks against Iran after two tankers carrying c...
Livestock Industry Margins
Beef packer margins improved sharply to $258/head last week, up $145 from the prior week as the Choice cutout strengthened while fed cattle prices declined. The cutout rose to nearly $382/cwt, while fed cattle prices fell to $219/cwt, extending the rapid recovery in packer spreads that began in...
Summary of Futures
Dec 26 Corn closed at $5.3775/bushel, up $0.0125 from yesterday's close. Dec 26 Wheat closed at $7.74/bushel, down $0.1 from yesterday's close. Nov 26 Soybeans closed at $12.88/bushel, up $0 from yesterday's close. Dec 26 Soymeal closed at $345.3/short ton, down $3.6 from yest...
Biofuels
EPA Announces 2025 SREs under the RFS: 1.76 Billion RINs
On Monday, 31 August, the U.S. Environmental Protection Agency (EPA) announced decisions for 34 small refinery exemption (SRE) petitions under the Renewable Fuel Standard (RFS) program for 2025. In consultation with the U.S. Department of Energy (DOE), EPA reviewed and considered information su...
EPA Grants 29 SREs, but Reallocation is the Story
Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...
Ethanol Margins Set to Decline; Biodiesel Margins Set to Explode
Key Takeaways: Ethanol margins continue to retreat from recent highs as rising costs – particularly corn and natural gas – offset gains in ethanol and DDGS values. WPI’s models expect ethanol margins to broadly follow their seasonal pattern, declining into the new year,...
EPA Announces 2025 SREs under the RFS: 1.76 Billion RINs
On Monday, 31 August, the U.S. Environmental Protection Agency (EPA) announced decisions for 34 small refinery exemption (SRE) petitions under the Renewable Fuel Standard (RFS) program for 2025. In consultation with the U.S. Department of Energy (DOE), EPA reviewed and considered information su...
EPA Grants 29 SREs, but Reallocation is the Story
Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...
Ethanol Margins Set to Decline; Biodiesel Margins Set to Explode
Key Takeaways: Ethanol margins continue to retreat from recent highs as rising costs – particularly corn and natural gas – offset gains in ethanol and DDGS values. WPI’s models expect ethanol margins to broadly follow their seasonal pattern, declining into the new year,...
CFTC COT Report Analysis
Concerns about U.S. corn and soybean yields and continued disruptions in the Black Sea drove a week of bullish activity at the CBOT. Managed money traders bought 127,000 contracts across the ag markets, expanding their all-ags net long 29 percent in the process. The biggest drivers of the buyin...
Farm Inputs
An Exploration of the Colorado River and Its Many Legal and Economic Canyons
You cannot escape the vortex of opinions about water scarcity in the Western United States, especially in the drought-stricken Colorado River Basin. Agriculture is the villain in many of these editorials. Agriculture uses too much water, so it should use less, is the refrain. We all wish it was...
Cow-Calf Profit Outlook Falls Amid Shifting Economics
Key Takeaways: Expected returns to production for U.S. cow-calf producers have shifted lower from prior forecasts as cattle values fall and feed costs rise. Producer revenues are forecast 4–5 percent below our July outlook and will be 3 percent below 2025 levels. Costs are quickly...
The Netherlands: An Unlikely Agricultural Powerhouse
Key Takeaways: Despite its limited farmland, the Netherlands is a major agricultural exporter, focusing on high-value products such as dairy, flowers, meat, and vegetables. The Port of Rotterdam makes the Netherlands a major European agricultural trade hub, supporting significant processing an...
An Exploration of the Colorado River and Its Many Legal and Economic Canyons
You cannot escape the vortex of opinions about water scarcity in the Western United States, especially in the drought-stricken Colorado River Basin. Agriculture is the villain in many of these editorials. Agriculture uses too much water, so it should use less, is the refrain. We all wish it was...
Cow-Calf Profit Outlook Falls Amid Shifting Economics
Key Takeaways: Expected returns to production for U.S. cow-calf producers have shifted lower from prior forecasts as cattle values fall and feed costs rise. Producer revenues are forecast 4–5 percent below our July outlook and will be 3 percent below 2025 levels. Costs are quickly...
The Netherlands: An Unlikely Agricultural Powerhouse
Key Takeaways: Despite its limited farmland, the Netherlands is a major agricultural exporter, focusing on high-value products such as dairy, flowers, meat, and vegetables. The Port of Rotterdam makes the Netherlands a major European agricultural trade hub, supporting significant processing an...
Gene Editing Offers a New Path for Crop Development
Key Takeaways: Gene editing makes targeted changes to a plant’s existing DNA, while genetic modification can introduce genetic material from another organism to create traits not naturally present in the crop. Gene editing is unlikely to replace genetic modification entirely, as the two...
Equities
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Summary of Futures
Dec 26 Corn closed at $5.3775/bushel, up $0.0125 from yesterday's close. Dec 26 Wheat closed at $7.74/bushel, down $0.1 from yesterday's close. Nov 26 Soybeans closed at $12.88/bushel, up $0 from yesterday's close. Dec 26 Soymeal closed at $345.3/short ton, down $3.6 from yest...
Summary of Futures
Dec 26 Corn closed at $5.365/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $7.84/bushel, up $0.2325 from yesterday's close. Nov 26 Soybeans closed at $12.88/bushel, up $0.2 from yesterday's close. Dec 26 Soymeal closed at $348.9/short ton, up $8 from yesterda...
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Summary of Futures
Dec 26 Corn closed at $5.3775/bushel, up $0.0125 from yesterday's close. Dec 26 Wheat closed at $7.74/bushel, down $0.1 from yesterday's close. Nov 26 Soybeans closed at $12.88/bushel, up $0 from yesterday's close. Dec 26 Soymeal closed at $345.3/short ton, down $3.6 from yest...
Summary of Futures
Dec 26 Corn closed at $5.365/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $7.84/bushel, up $0.2325 from yesterday's close. Nov 26 Soybeans closed at $12.88/bushel, up $0.2 from yesterday's close. Dec 26 Soymeal closed at $348.9/short ton, up $8 from yesterda...
Summary of Futures
Dec 26 Corn closed at $5.335/bushel, down $0.03 from yesterday's close. Dec 26 Wheat closed at $7.6075/bushel, up $0.125 from yesterday's close. Nov 26 Soybeans closed at $12.68/bushel, up $0.02 from yesterday's close. Dec 26 Soymeal closed at $340.9/short ton, up $1.6 from ye...
Energy
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
EPA Announces 2025 SREs under the RFS: 1.76 Billion RINs
On Monday, 31 August, the U.S. Environmental Protection Agency (EPA) announced decisions for 34 small refinery exemption (SRE) petitions under the Renewable Fuel Standard (RFS) program for 2025. In consultation with the U.S. Department of Energy (DOE), EPA reviewed and considered information su...
EPA Grants 29 SREs, but Reallocation is the Story
Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
EPA Announces 2025 SREs under the RFS: 1.76 Billion RINs
On Monday, 31 August, the U.S. Environmental Protection Agency (EPA) announced decisions for 34 small refinery exemption (SRE) petitions under the Renewable Fuel Standard (RFS) program for 2025. In consultation with the U.S. Department of Energy (DOE), EPA reviewed and considered information su...
EPA Grants 29 SREs, but Reallocation is the Story
Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...
Summary of Futures
Dec 26 Corn closed at $5.3775/bushel, up $0.0125 from yesterday's close. Dec 26 Wheat closed at $7.74/bushel, down $0.1 from yesterday's close. Nov 26 Soybeans closed at $12.88/bushel, up $0 from yesterday's close. Dec 26 Soymeal closed at $345.3/short ton, down $3.6 from yest...
Softs
CFTC COT Report Analysis
The bull market in ag commodities reached a fevered pitch last week with drought, yield, and export concerns at key places around the world driving massive fund and commercial buying. Managed money traders bought 204,000 contracts across the ag markets through last Tuesday’s data reportin...
CFTC COT Report Analysis
Concerns about U.S. corn and soybean yields and continued disruptions in the Black Sea drove a week of bullish activity at the CBOT. Managed money traders bought 127,000 contracts across the ag markets, expanding their all-ags net long 29 percent in the process. The biggest drivers of the buyin...
CFTC COT Report Analysis
Favorable U.S. weather and pre-WASDE positioning last week overrode the Black Sea export and allowed bearish sentiments to dominate the CBOT for the second straight week. Managed money traders sold 63,000 contracts across the ag markets, reducing their all-ags net long 12.5 percent in the proce...
CFTC COT Report Analysis
The bull market in ag commodities reached a fevered pitch last week with drought, yield, and export concerns at key places around the world driving massive fund and commercial buying. Managed money traders bought 204,000 contracts across the ag markets through last Tuesday’s data reportin...
CFTC COT Report Analysis
Concerns about U.S. corn and soybean yields and continued disruptions in the Black Sea drove a week of bullish activity at the CBOT. Managed money traders bought 127,000 contracts across the ag markets, expanding their all-ags net long 29 percent in the process. The biggest drivers of the buyin...
CFTC COT Report Analysis
Favorable U.S. weather and pre-WASDE positioning last week overrode the Black Sea export and allowed bearish sentiments to dominate the CBOT for the second straight week. Managed money traders sold 63,000 contracts across the ag markets, reducing their all-ags net long 12.5 percent in the proce...
CFTC COT Report Analysis
Favorable U.S. weather overrode the Black Sea export impacts in last week’s trade and left more bearish sentiments to dominate the CBOT. Managed money traders sold 65,000 contracts across the ag markets, reducing their all-ags net long 11 percent in the process. The biggest drivers of the...
Macroeconomics
EPA Grants 29 SREs, but Reallocation is the Story
Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...
Readout on the Fed’s Jackson Hole Meeting
The Federal Reserve Board holds an annual meeting in Jackson Hole, Wyoming, each year about this time, and this year’s meeting is now. It’s always a “must-watch” event, but this year, amidst persistent inflation and with a new Fed chairman, Kevin Warsh, it drew additiona...
An Exploration of the Colorado River and Its Many Legal and Economic Canyons
You cannot escape the vortex of opinions about water scarcity in the Western United States, especially in the drought-stricken Colorado River Basin. Agriculture is the villain in many of these editorials. Agriculture uses too much water, so it should use less, is the refrain. We all wish it was...
EPA Grants 29 SREs, but Reallocation is the Story
Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...
Readout on the Fed’s Jackson Hole Meeting
The Federal Reserve Board holds an annual meeting in Jackson Hole, Wyoming, each year about this time, and this year’s meeting is now. It’s always a “must-watch” event, but this year, amidst persistent inflation and with a new Fed chairman, Kevin Warsh, it drew additiona...
An Exploration of the Colorado River and Its Many Legal and Economic Canyons
You cannot escape the vortex of opinions about water scarcity in the Western United States, especially in the drought-stricken Colorado River Basin. Agriculture is the villain in many of these editorials. Agriculture uses too much water, so it should use less, is the refrain. We all wish it was...
Why U.S. Lamb Prices Are Import-Anchored and Why Carcass Divergence Matters
Key Takeaways: Imports supply 70–75 percent of U.S. lamb disappearance, with Australia and New Zealand accounting for nearly all imported volume. The deficit is structural, not cyclical: domestic production cannot scale quickly enough to displace imports or reset the market’s refer...
Pulses
MAHA: More Pulses? Does it Matter?
The Make America Healthy Again (MAHA) movement, spearheaded by the Secretary of Health and Human Services Department includes a lot of transformational goals, and some goals that are objectively silly. For example, Coca-Cola is transitioning back to sugar for some of its soft drinks, an announc...
Year of the Pulse
The International Grains Council (IGC) announced that it will include pulses in its definition of grains and expand market information on these products. Trade in pulses has been increasing as they grow in stature as a staple food and plant-based protein. The pod-based seeds of the legume famil...
An IPO-Level Look at the Veggie Burger Sector
Beyond Meat, the maker of a vegetable protein meat alternative product, is preparing for an IPO. It will be offering 8.75 million shares at $19-21, which would raise $175 million at the mid-point price. The company’s cornerstone product is the Beyond Burger, which is now available at a nu...
MAHA: More Pulses? Does it Matter?
The Make America Healthy Again (MAHA) movement, spearheaded by the Secretary of Health and Human Services Department includes a lot of transformational goals, and some goals that are objectively silly. For example, Coca-Cola is transitioning back to sugar for some of its soft drinks, an announc...
Year of the Pulse
The International Grains Council (IGC) announced that it will include pulses in its definition of grains and expand market information on these products. Trade in pulses has been increasing as they grow in stature as a staple food and plant-based protein. The pod-based seeds of the legume famil...
An IPO-Level Look at the Veggie Burger Sector
Beyond Meat, the maker of a vegetable protein meat alternative product, is preparing for an IPO. It will be offering 8.75 million shares at $19-21, which would raise $175 million at the mid-point price. The company’s cornerstone product is the Beyond Burger, which is now available at a nu...
Indian Subcontinent Regional Analysis
Higher Early Sugar Production and Slow Exports Could Pressure Prices Due to the early start of the 2018/19 sugarcane crushing season, Indian sugar mills were able to produce 21.93 MMT of sugar as of 15 February 2019 versus 20.36 MMT at the same point a year ago, an increase of 7.71 percent. Ano...
Freight
Transportation Perspectives - 27 August
Key Takeaways: The Panama Canal traded at a record $5.3 million for a transit slot this week as line-up times extend to 17 days. The difficulties transiting the Canal are supporting the PNW/Gulf spread. Tanker freight markets remain elevated as the blockade in the Strait of Hormuz continues. I...
Why U.S. Lamb Prices Are Import-Anchored and Why Carcass Divergence Matters
Key Takeaways: Imports supply 70–75 percent of U.S. lamb disappearance, with Australia and New Zealand accounting for nearly all imported volume. The deficit is structural, not cyclical: domestic production cannot scale quickly enough to displace imports or reset the market’s refer...
FOB Prices and Freight Rates App (Updated 26 August)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Transportation Perspectives - 27 August
Key Takeaways: The Panama Canal traded at a record $5.3 million for a transit slot this week as line-up times extend to 17 days. The difficulties transiting the Canal are supporting the PNW/Gulf spread. Tanker freight markets remain elevated as the blockade in the Strait of Hormuz continues. I...
Why U.S. Lamb Prices Are Import-Anchored and Why Carcass Divergence Matters
Key Takeaways: Imports supply 70–75 percent of U.S. lamb disappearance, with Australia and New Zealand accounting for nearly all imported volume. The deficit is structural, not cyclical: domestic production cannot scale quickly enough to displace imports or reset the market’s refer...
FOB Prices and Freight Rates App (Updated 26 August)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Transportation Perspectives - 20 August
Key Takeaways: The Panama Canal’s draft restrictions and decreasing rainfall outlook are driving big moves in dry bulk markets this week. Panamax markets are sharply lower as the economics of moving freight across the Canal are deteriorating rapidly, leading to support in Supramax vessels...