Orange Juice (FCOJ) had a spectacular jump this week, jumping. 13.48% after the US Department of Agriculture (USDA) crop report forecasts 2023 to bring the worst harvest of Florida oranges in 86 years. They estimate producing 16 million boxes of orange juice, down a historic 61 percent on the 41 million produced in 2022. The biggest prices fall this week were in CME Lean Hog futures tumbling to contract lows as excess supplies and weak demand for U.S. pork fueled … Continue reading “Commodity Traders Weekly Outlook: OJ Soar on Production While Lean Hogs Fall on Demand”
Sea Freight Indices Slide Continues; Capesize Sank 20%, BDI Off 15%, Supramax Down 12.3% Panamax Falls 8.4% – TC Shipping Monitor
The morose global economy has seen the Baltic Exchange’s dry bulk sea freight index continue to fall, now for a twelfth straight day on Friday, its lowest level since March 2nd. All major segments of the dry bulk spot lower as shipping continued to grapple with a China reopening sputtering at best. The BDI was down nearly 15%, its worst week in nearly four months. The Capesize 5TC sank 20%, with diminishing demand amid reduced production by Chinese steelmakers. The … Continue reading “Sea Freight Indices Slide Continues; Capesize Sank 20%, BDI Off 15%, Supramax Down 12.3% Panamax Falls 8.4% – TC Shipping Monitor”
Commodity Traders Weekly Outlook: Natural Gas on Fire, Grains Sell Off
For the second week natural gas led the commodities pile, continuing its recover surging over 14% for the week. Grains again were the week’s biggest losers with Canola, rice, corn, soybeans beans and meal all down over 5% on the week. Last week’s WASDE report impacting prices again. Both gold and silver ran continued lower but did bounce late Friday to mitigate much of the damage as the debt ceiling hopes faded. The move was influenced by the US dollar strengthening … Continue reading “Commodity Traders Weekly Outlook: Natural Gas on Fire, Grains Sell Off”
Dry Bulk Shipping Falls Across All Major Segments – TC Shipping Monitor
The Baltic Exchange’s dry bulk sea freight index was down for a seventh day on Friday, leading all major segments of the dry bulk spot lower as shipping continued to grapple with a China reopening sputtering at best. Shipowners have kept their fleets in the Pacific basin rather sailing off toward the Americas. The BDI was down 11.2% for the week, its worst since the week ending January 27. The Capesize 5TC fell 13.9% and the Panamax 5TC was down13.2% … Continue reading “Dry Bulk Shipping Falls Across All Major Segments – TC Shipping Monitor”
Commodity Traders Weekly Outlook: Natural Gas Recover, Orange Juice and Silver Sell Off
Natural gas saw some relief this week recovering some of the prior week’s constant selling to close up 0ver 6% for the week. Soybean oil, Silver and OJ futures were the week’s biggest losers. The WASDE report saw volatility amongst the grain which had been up ahead of the release. Both gold and silver ran out of gas, pulling back hard after heavy spec buying took profit. The move was influenced by the US dollar strengthening on safe haven buying. The … Continue reading “Commodity Traders Weekly Outlook: Natural Gas Recover, Orange Juice and Silver Sell Off”
Panamax Shipping Index Falls for Fifth Straight Week – TC Shipping Monitor
The Baltic Exchange’s dry bulk sea freight index closed unchanged this week. The BDI, was down for a second day on Friday, falling about 3.1% to a one-week low of 1,558 points and last week’s close. The move was its biggest daily decline since Mid-April. The panamax index, which tracks ships that usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes fell for its fifth straight, down 3% Friday to its lowest since February 27th at 1,402. … Continue reading “Panamax Shipping Index Falls for Fifth Straight Week – TC Shipping Monitor”
Commodity Traders Weekly Outlook: Natural Gas and Oil Prices Slump While Grains Recover
Energy prices continued their steep fall with US benchmark Henry hub falling -12.26% for the week, now down -73% year on year. The crude oil complex continuing to sell off this past week, while Brent and WTI did bounce hard off a level not seen since December 2021, that said oil still lost more than $5.00/bbl for the week. Last Week WTI futures fell -7.09% on the week, Brent was down 6.12%, heating oil was down 2.63% and gasoline down 5.74%. … Continue reading “Commodity Traders Weekly Outlook: Natural Gas and Oil Prices Slump While Grains Recover”
Singapore and Dalian Iron Ore Futures Help Baltic Dry Index Lower – TC Shipping Monitor
The Baltic Exchange’s dry bulk sea freight index closed down this week for the first down week in three and after it had risen for a third straight month last Friday. Pressure came from Singapore and Dalian iron ore futures falling sharply with renewed fears of a banking crisis in the United States coupled with diminishing demand amid reduced production by Chinese steelmakers. While the BDI rose about 0.8% to 1,558 points on Friday, it finished down 1.1% this week. … Continue reading “Singapore and Dalian Iron Ore Futures Help Baltic Dry Index Lower – TC Shipping Monitor”
Baltic Dry Sea Freight Index Rises for Third Straight Month – TC Shipping Monitor
Shipping rates continued to recover after finding support last week, the Baltic Exchange’s dry bulk sea freight index closed up for a third straight month on Friday. While the BDI fell 5 points to 1,576 Friday it showed a gain of 13.5% for the month. The capesize index rose 25 points, or about 1.1%, to 2,301, its highest level since late December. The gains this week were again led by the Capesize index, which represents cargoes carrying commodities such as … Continue reading “Baltic Dry Sea Freight Index Rises for Third Straight Month – TC Shipping Monitor”
Commodity Traders Weekly Outlook: Feeder Cattle Prices Soar 10%, Corn and Wheat Lower
Feeder Cattle saw contract highs, up 10.5% for the week with corn lower by 7.77% and wheat down 1.21%. July platinum rose 8.2% supported by a huge 72,469 ounces single day inflow to ETF holdings on Wednesday. Platinum ETF holdings now expanded 5.9% year-to-date. Palladium ETF holdings significant volatility in daily flows with holdings 4.6% higher year-to-date. June WTI oil settled with a weekly loss for the first in five weeks, down 5.5% for the week. Gold June futures settled … Continue reading “Commodity Traders Weekly Outlook: Feeder Cattle Prices Soar 10%, Corn and Wheat Lower”