… Yo ho, all hands Hoist the colors high Heave ho, thieves and beggars Never shall we die…
On my vessel
Joined July 2023
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🌽#Corn🌽
1⃣U.S. harvest rolling with dry weather ahead ☀️🚜
2⃣Brazil’s 1st crop 31% planted 🌧️
3⃣EU cuts 2024 corn estimate to 60.1 MMT 🌍
4⃣Funds trim net shorts by 4.1k contracts 📉
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Spring Wheat:
🌾Spring wheat ratings take a 4% hit to 69% G/E, but the yield is still solid at 51.1 bpa. With 51% of the harvest complete.
Corn Progress:
🚜Harvest is underway! 84% of corn is in the dough stage, with 46% dented and 11% mature. LA, TX, and MS are leading🌾
North African Mediterranean: Corn to Lebanon for $21-22/ton, grain to Tunis at $27-28/ton. Other grains to Egypt and Lebanon? Prices are like a roulette wheel—spin the wheel and see what you get! 🎰🌾
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Odessa-Spain Med: Sunflower meal to Tarragona for $34-36/ton, fertilizers to Seville at $40-41/ton. Spain’s really making sure that fertile ground lives up to its name! 🌻🌱
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Adriatic Sea: Moving agri-products to the South Adriatic? $20/ton. Think of it as sending your veggies on a luxury cruise—first-class all the way! 🚢🥕
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Freight
Greek Mediterranean: Grain’s the new gold! Yeisk to Greece at $31-33/ton, wheat to Patras at $15-17/ton. Greece is turning into the Med’s grain party hotspot! 🎉🍞
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Turkish Mediterranean:
Fertilizer rates have mellowed out at $17-18/ton. Looks like the market had its coffee and decided to chill. ☕🌱
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Black Sea to Italy :
Shipping coal or grain? That’s $20.5/ton, or $25/ton from Chornomorsk to Bari. That’s the cost of keeping the lights on and the pasta flowing! 🍝🚢
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🌾Ukrainian market heats up! DAP bids rise due to late crop worries and sluggish activity
🌻 Black Sea sunflower oil update:
Ukrainian sellers: no offers
Buyer bids: $995 CIF Mersin (Aug)
Russian offers: $1,010 CIF Mersin (Aug)
🌱Rapeseed prices soar despite fewer crushers
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🌦 #Weather and #Agriculture: Weather conditions in key agricultural regions like South America, Europe, and the US are mostly favorable for crops, impacting market movements.
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📈 Commodity Watch: Focus on China's commodity demand, considering recent rallies in the commodity index led by energy and metals.
📊 Market Insights: The upcoming USDA report is anticipated to show adjustments in US crop carryouts and potentially lower Brazil crop estimates.
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🌍 #Weather Concerns: Mixed weather forecasts could affect crop plantings and yields, with wet conditions in Europe's north, dryness in the south and Black Sea regions, and favorable conditions in South America.
#oatt #AgTwitter
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📊 Global Wheat Production: world wheat crop estimate raised by 3 million tons, mainly in the Black Sea region.
#oatt
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