MarketsFarm — Global shipping rates continue to decline, hitting record lows in some cases, amid declining demand and concerns over the coronavirus outbreak in China. The Baltic Dry Index (BDI), compiled by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea. The BDI has fallen for 13 […] Read more
Virus fears weigh on global shipping sector
Ocean freight index hits five-and-a-half year highs
MarketsFarm — The Baltic Dry Index (BDI) has steadily increased over the past few months, hitting its highest levels in five-and-a-half years. The BDI settled Tuesday at 2,011 points, the highest level for the ocean freight rate indicator since January 2014. The BDI has been on a steady uptrend since hitting a two-and-a-half year low […] Read more
Visible Canadian canola stocks back above one million tonnes
MarketsFarm — Solid deliveries into the commercial pipeline and lacklustre export movement saw visible Canadian canola supplies climb back above one million tonnes during the week ended June 9, according to the latest grain handling report from the Canadian Grain Commission. Farmers delivered 422,500 tonnes of canola during week 45 of the 2018-19 crop year […] Read more
Views differ on crop exports to China other than canola
MarketsFarm — Depending on whom one has spoken with, there are differing views as to grain exports to China other than canola. The federal government has stated there have been no export issues outside of canola. “The current actions taken by China are limited to canola seed, and we have not received any indication of […] Read more
Baltic Dry Index near 2-1/2-year lows
The Baltic Dry Index (BDI) has dropped sharply over the past two months, as declining global demand for commodities — especially from China — weighed on the economic indicator. The BDI, compiled daily by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea, including grain. The BDI […] Read more
Russia’s ag ministry to set up new grain exporters’ union
Moscow/Hamburg | Reuters — Russia’s agriculture ministry will set up a new grain exporters’ union to better understand the needs of the market, it said on Monday after its routine meeting with local grain traders. Traders interpreted it as a result of the close attention with which Russian officials have been monitoring how big exporters […] Read more
Cargill’s net earnings down as trade fight bites
Chicago | Reuters — Grains trader Cargill on Thursday reported a 20 per cent drop in its fiscal second-quarter 2019 net earnings, as global trade tensions hit the bottom line along with challenges in the Chinese hog sector and a struggling U.S. dairy business. Three of the company’s four business units reported results that were […] Read more
Russia meets grain traders, sees no need to limit exports
Moscow | Reuters — Russia’s agriculture ministry does not see a need to impose an export duty on grains or to curb grain exports in any other way, it said in a statement after a meeting with exporters on Monday. Chicago wheat prices — a global benchmark for grains — were supported last week by […] Read more
Canadian grain exports hit new record in 2017/18: CGC
CNS Canada – Total exports of Canada’s major grains and oilseeds hit a new record in 2017/18 (Aug/Jul), as sharp increases in wheat and barley more than made up for a decline in canola sales, according to the last weekly report from the Canadian Grain Commission for the recently finished crop year. Total exports of […] Read more
Brazilian grain growers explore increased use of Panama Canal
Sao Paulo | Reuters — Brazilian farmers in top soy state Mato Grosso signed a memorandum of understanding with the Panama Canal Authority to evaluate ways to cut transportation costs and boost Brazilian grain volumes using the waterway, the authority’s chief administrator said. The canal’s administration is looking to increase its participation in rising Brazilian […] Read more
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