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Dry Bulk FFA: Supramax Market Bullish

Little changed on the index from last week. Technically bullish but price action is neutral and between the shorter period EMA’s. Last week the June futures were considered technically bearish but not a technical sell due to the market divergence. Price rallied, held at the USD 11,410 resistance and is once again testing the lows. Again, this market is not a technical sell as we remain in the support zone with a high probability the market will once again diverge. The Q3 broke resistance by just USD 2 before selling ...

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Combined coal stocks held by China’s six key power plants down 3.5% on week

Combined coal stocks held by China’s six key coal-fired power generators in southern and eastern China totaled 12.58 million mt Thursday, down 3.5% from 13.04 million mt May 17, according to figures released by port operator Qinhuangdao Port late Thursday. The six key power generators are: Zhejiang Power, Shanghai Power, Guodian, Datang, Huaneng and Guangdong Power which is better known as Yudean. Based on the current coal consumption rate, the stocks are able to cover 15.80 days of consumption at the six power plants, down 1.75 days from 17.55 days ...

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Baltic Dry Index falls to 1077, down 32 points

Today, Friday, May 25 2018, the Baltic Dry Index decreased by 32 points, reaching 1077 points.

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Dry Bulk FFA: Capesize Market Under Pressure

Capesize FFA Commentary: Cape paper came under pressure again yesterday although the main discounting was focused on the nearby periods. The physical continues to tumble and the looming UK bank holiday is doing little to underpin confidence so we may see the cape market woes added to as the week draws to a close. Panamax FFA Commentary: It was another gloomy day on Panamax paper with declines across the curve as the index drifts further into negative territory. A lack of fresh enquiry and bearish cape market fueled sellers appetite. ...

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China’s April sorghum imports surged ahead of dumping tariffs: customs

China’s imports of sorghum rose sharply in April from a year earlier, customs data showed, as buyers brought in large volumes of the feed grain ahead of Beijing’s anti-dumping decision made at the peak of Sino-U.S. trade tensions. China imported 640,000 tonnes of sorghum in April, up 87 percent on a year ago, ahead of a huge anti-dumping deposit announced by Beijing on April 17 after a two-month investigation. The country imports almost all of its sorghum from the United States. News of the deposit, which still came earlier than ...

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Dry Bulk FFA: Panamax Index Bearish

Highlights: The Panamax index is now below Fibonacci support and testing the USD 9,856 level. Technically bearish below USD 10,006. The June futures remain technically bearish and continues to make fresh marker lows. The most recent pullback was less aggressive indicating that price action is pointing to an increase in downside momentum even though the stochastics remain oversold. Technical support is at USD 10,460 and USD 10,326. Price action remains bullish in the Q3 futures, but the MA’s remains flat suggesting we are currently seeing a bullish move in a ...

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Baltic Dry Index falls to 1109, down 53 points

Today, Thursday, May 24 2018, the Baltic Dry Index decreased by 53 points, reaching 1109 points.

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China signals to state giants: ‘Buy American’ oil and grains

China will import record volumes of U.S. oil and is likely to ship more U.S. soy after Beijing signalled to state-run refiners and grains purchasers they should buy more to help ease tensions between the two top economies, trade sources said on Wednesday. China pledged at the weekend to increase imports from its top trading partner to avert a trade war that could damage the global economy. Energy and commodities were high on Washington’s list of products for sale. As the two sides stepped back from a full-blown trade war, ...

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Dry Bulk FFA: Capesize Market’s Downside Momentum Looks to Be Slowing Down

Highlights: The Capesize index has broken support and is now in a corrective phase having made a fresh market low. Downside momentum is showing signs of slowing as we approach the technical support zone. Remains corrective below USD 20,801 unless the index produces a lower high. The June futures have now made a lower low and entered bearish territory. The stochastic is now oversold, a close above USD 16,040 would create a fresh market high indicating bull momentum is gaining, however price would remain below moving averages. The Q3 futures ...

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EU’s Corn-Buying Spree Is Boosting Rare Trade With South Africa

Europe’s hunger for corn is giving South Africa a surprising destination to sell more of its record crop. Africa’s top corn grower typically doesn’t export much to the European Union due to the long shipping distance and uncompetitive cost. But last year’s big harvest has cut prices, and should help South Africa ship more to the EU than in the previous six years combined, according to Strategie Grains. The increased trade comes as EU imports surged 41 percent this season amid strong demand for animal feed and cheap grain from ...

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China Inc returns to U.S. soybean market as trade tensions ease

China’s state grain stockpiler has returned this week to the U.S. soybean market for the first time since early April, a sign Beijing is preparing to resume purchases as trade tensions between the world’s top two economies ease, two sources said. The renewed interest in the oilseed, used in animal feed, follows Beijing’s pledge at the weekend to buy more U.S. goods from its top trading partner, including agricultural products. China made the pledge to avert a trade war that could damage the global economy. As the two sides stepped ...

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Baltic Dry Index falls to 1162, down 37 points

Today, Wednesday, May 23 2018, the Baltic Dry Index decreased by 37 points, reaching 1162 points.

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Brazilian truckers threaten grains exports as fuel protests widen

Truck drivers partially blocked roads and ports across Brazil on Tuesday in a second straight day of protests against a steep rise in diesel prices, threatening to slow delivery of grains and other goods to domestic and export markets. Thousands of trucks were parked to obstruct major roads as the protests spread to affect access to the country’s two main export ports, Santos and Paranaguá. Brazil’s government called a second meeting to discuss the issue. Brazil is a key global supplier of grains, meats, coffee, sugar, oil and iron ore ...

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Baltic Dry Index falls to 1199, down 40 points

Today, Tuesday, May 22 2018, the Baltic Dry Index decreased by 40 points, reaching 1199 points.

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Sulfur limit change could alter South Korea’s demand profile for thermal coal

South Korea’s adoption of an annual sulfur limit of 0.4% as-received basis for thermal coal used to fuel its coal-fired power plants could radically change the Asian country’s demand profile for imports, according to market sources familiar with the move. Power plant operators in South Korea, including the five state-owned generators, will have to comply with the new sulfur limit from July, and earlier than the originally thought date of October, sources said. Financial penalties will be applied to power plant operators that exceed the 0.4% sulfur limit, which will ...

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