OPEC+ throws tanker shipping a curveball, shaking confidence
“In classic Murphy’s Law fashion, shipping seems prone to misfortune,” lamented Stifel analyst Ben Nolan in the wake of Sunday’s surprise OPEC+ production cuts. “Things could not have been going more right for the tanker market” until OPEC+ gave tanker owners and investors a “poke in the eye.” “OPEC+ blindsided oil and tanker markets,” said […]
Grain Highlights 06.04.2023
Sagras&Mercado have lowered their forecast for the 2022/23 soybean production in Argentina to 24.8 million tons (-6.6 compared to the previous estimate and 43 in 2021/22). – According to an optimistic scenario, 15.6 million tons of grain can be exported from Ukraine over the period of April-June, including 10 million tons through the grain corridor […]
Grain Highlights 07.04.2023
According to Conab data, as of 04/01/2023, the sowing of second corn crop in Brazil reached 96% of the planned areas (+5% for the week). – Wheat prices on the domestic market in Russia have fallen to November 2019 levels. As of March 1, 2023, wheat stocks held by agricultural organizations of Russia were 17.4 […]