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Crop Watch: Conditions improve but North needs heat, East needs rain​

NAPERVILLE, Illinois, July 1 (Reuters) - U.S. Crop Watch corn and soybean conditions both improved this week after a stretch of mostly supportive weather, but half of the producers still have ongoing crop concerns, particularly on corn.

Crop Watch locations in the Dakotas and Minnesota have been too wet and cool while dryness has plagued Ohio and southeastern Illinois. Nearly the entire Corn Belt has precipitation chances this week, though continued cool temperatures in the northwest Belt offset some of the forecast’s favorability.

Crop Watch producers assign weekly condition scores to their corn and soybean fields using a scale of 1 to 5. The ratings are similar to the U.S. Department of Agriculture’s system where 1 is very poor, 3 is average and 5 is excellent.

However, the Crop Watch condition scores, unlike USDA’s, are more of a visual assessment and do not incorporate yield assumptions. Yield ratings are expected within a week or two.


Morning Bid: Growth ebbs, curves steepen, Powell in Portugal​

July 2, 2024 6:05 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Further signs of a cooling U.S. economy greet the second half of 2024, with politics dominating headlines on both sides of the Atlantic and Federal Reserve boss Jerome Powell due to speak later on Tuesday.

Financial markets are grappling with a heady mix of critical elections and signs of slowing growth stateside - with France in the middle of a two-legged parliamentary election, Britain heading to the polls on Thursday and betting on the U.S. election going up a gear after last week's TV debate.

While a fresh lift for U.S. technology stocks papered over the cracks again on Wall St on Monday, rumblings in the bond market and a steepening of long-term yield curves perhaps indicate more about the political concerns.

The Institute for Supply Management's June survey showed U.S. manufacturing missed forecasts and contracted for a third straight month, with a measure of prices paid by factories for inputs dropping to a six-month low amid weak demand for goods.



Morning Bid: New records as jobs scanned, Tesla jumps​

July 3 (Reuters) - A look at the day ahead in U.S. and global markets from Mike Dolan

Federal Reserve chair Jerome Powell managed to smooth some election-ruffled feathers in bond markets on Tuesday, helping Wall St stocks back to all-time highs as a sweep of labor market soundings are due ahead of the July 4 break.

As the Nasdaq (.IXIC), opens new tab hit new records and the S&P 500 (.SPX), opens new tab closed above 5,500 points for the first time, Tesla (TSLA.O), opens new tab stole the show - surging 10% to its highest level since January after it reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter.



Special Report: 6-Month Scrap Price Review & Outlook for 2024​

Jul 2, 2024

📈 Check Scrap Prices: https://iScrapApp.com/ - This week, we wanted to share some of the news we've seen for scrap prices in the first half of 2024. Also, we wanted to update you on some of the latest outlooks and future predictions for scrap prices in 2024.


👉 Subscribe for reports: http://eepurl.com/DNJJH

Hurricane Beryl Scatters Shipping Across the Caribbean & Gulf of Mexico | Impact on the Supplychain?​

Jul 2, 2024 #supplychain #berylhurricane #beryl

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the impact of Category 5 Hurricane Beryl on shipping in the Gulf of Mexico and Caribbean and on the global supply chain.


- Marine Traffic https://www.marinetraffic.com/en/ais/home/centerx:-12.0/centery:25.0/zoom:4
- Weather Channel https://weather.com/
- National Hurricane Center https://www.nhc.noaa.gov/
- EIA All Energy Infrastructure https://atlas.eia.gov/apps/all-energy...

Philippines Withdraws Its Mariners From the Red Sea After Seizure, Attacks and Losses​

Jul 3, 2024 #supplychain #houthi #redsea

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the attack on MV Transworld Navigator by an unmanned surface vessels and the decision of the Philippines Department of Migrant Workers to prohibit their mariners from signing aboard ships sailing through the Red Sea, Bab el-Mandeb and Gulf of Aden


- Tracking Maritime Attacks in the Middle East Since 2019 https://www.washingtoninstitute.org/p...
- Marine Traffic - Transworld Navigator https://www.marinetraffic.com/en/ais/...
- Stealth Maritime https://www.stealth.gr/
- Houthi's Blowfish: Guide To Explosive USV Threat In Red Sea http://www.hisutton.com/Yemen-Houthi-...
- All M/V Transworld Navigator seafarers back in PH https://www.pna.gov.ph/articles/1228169
- Review of Maritime Transport 2021 https://unctad.org/system/files/offic...

Capital Link Shipping Week 26

Fearnleys Week 27

Drewry WCI 04 July

UKMTO Summary Report: 29 June – 05 July 2024
29/06/2024 - 05/07/2024


Morning Bid: Labor in focus - US jobs, new UK government​

July 5, 2024 6:05 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

While U.S. markets return from the Independence day holiday to assess significant cooling of the labor market stateside, British markets rallied on a long-forecast landslide for the UK's opposition Labour Party in Thursday's elections.

The combination is weighing further on the dollar (.DXY), opens new tab early on Friday, with the index down for the fourth straight day and hitting its lowest in three weeks ahead of the June national employment report. Sterling , close to its best levels since the Brexit vote in 2016 on a trade-weighted basis , hit its highest since June 13 against the dollar.



Take Five: Banks and rates​

July 5 (Reuters) - Federal Reserve Chair Jerome Powell's testimony and U.S. inflation data top the agenda in the week to come, with U.S. banks reporting earnings and rate decisions due in New Zealand and South Korea.

Meanwhile, the tectonic plates of politics continue shifting, with France's Sunday election following hot on the heels of the UK vote.

Here is your look at what matters for markets in the coming week from Makhaila Gause and Lewis Krauskopf in New York, Kevin Buckland in Tokyo, Yoruk Bahceli in Amsterdam and Marc Jones in London.




Grains End Week On High Note With Justin McKinney​

Jul 5, 2024 #Agriculture #MarketUpdate #CommodityTrading

Join Marlin Bohling and Justin McKinney as they dive into the latest trading week in the agricultural markets. In this episode, they cover the performance of key commodities, including wheat, corn, soybeans, and livestock. Key topics discussed include:

• Harvest lows and basis differentials
• Crop conditions and export sales
• Impact of outside markets on agriculture
• Upcoming reports and their significance
• Essential strategies for risk management


Disruptions Persist in Maritime Transport, Challenging its Resilience​

Jul 6, 2024 #supplychain #trader #shipping

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the latest UNCTAD report on Disruptions Persist in Maritime Transport, Challenging its Resilience.


- UNCTAD Maritime Trade https://hbs.unctad.org/maritime-trans...
- UNCTAD Review of Maritime Transport https://unctad.org/publication/review...

Fed cattle prices see slight decline this week | Weekly Livestock Market Update​

Jul 6, 2024 #agriculture #news #markets

This week, Meghan Grebner and ag economist Scott Brown talk about the slight decline in fed cattle prices. They also look at Weekly Slaughter, Monthly Trade Data, and the most recent Jobs Report.


0:00 Introduction
0:15 This week in the markets
2:15 Weekly Slaughter
3:15 Monthly Trade Data
7:37 Jobs Report
8:35 Next week's reports

AMERICAS Stocks surfing new highs, French surprise​

July 8, 2024 6:31 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Wall St stocks start the week surfing new records into another earnings season and Federal Reserve testimony, while surprise French election results saw the country's left-wing thwart Marine Le Pen's far right and leave a hung parliament there.

U.S. Treasuries were relaxed early on and the dollar on the back foot after Friday's June employment report showed a cooling labor market and underlined hopes for two Fed rate cuts this year.

Although it's hard to see what more he will say beyond last week's appearance in Portugal, Fed chair Jerome Powell faces a grilling in Congress on Tuesday and Wednesday following his semi-annual testimonies to the House and Senate.





S&P 500 and Nasdaq notch record highs; chipmakers climb​

  • Boeing rises after plea deal in 737 MAX probe
  • Paramount Global drops after Skydance merger deal
  • Fed's Powell to testify in Congress on Tuesday and Wednesday
  • Indexes: S&P 500 up 0.10%, Nasdaq up 0.28%, Dow down 0.08%
July 8 (Reuters) - The S&P 500 and Nasdaq notched record-high closes on Monday as investors awaited fresh inflation data, commentary from Federal Reserve Chair Jerome Powell and the start of quarterly earnings season.

Nvidia (NVDA.O), opens new tab rose nearly 2%, Intel (INTC.O), opens new tab rallied over 6% and Advanced Micro Devices (AMD.O), opens new tab added 4%, lifting the Philadelphia semiconductor index (.SOX), opens new tab 1.9%.

Traders will scrutinize consumer price data due on Thursday and producer price data expected on Friday to gauge the Fed's progress in fighting inflation.



Morning Bid: Eyes switch to inflation vs elections, Powell up​

July 9, 2024 6:13 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

After an intense month focused on election risk around the world, markets quickly switched back to the more prosaic matter of the cost of money - and whether disinflation is resuming to the extent it allows borrowing costs to finally fall.

Thursday's U.S. consumer price update for June is the key moment of the week for many investors - with the headline rate expected to have fallen two tenths of a percentage point to 3.1% but with 'core' rates still stuck at 3.4%.

With Federal Reserve chair Jerome Powell starting his two-pronged semi-annual congressional testimony later on Tuesday, the consensus CPI forecast probably reflects what the central bank thinks of the situation right now - encouraging but not there yet.

Commodities Halftime Report: Silver, Oil And Gold Were The Top Performers

If you were in charge of feeding everyone this Fourth of July, you probably noticed a hike in prices.

According to the American Farm Bureau Federation, the cost of a typical Independence Day spread for 10 people jumped to $71.22 this year, up 5% from last year and a whopping 30% from five years ago.

That may not seem like much, but this inflation has a compounding effect on commodities. Research from Goldman Sachs shows that a 1 percentage point increase in U.S. inflation has historically led to a real return gain of 7 percentage points for commodities. Meanwhile, the same trigger caused stocks and bonds to decline by 3 and 4 percentage points, respectively.

This data supports the potential of commodities as an inflation hedge. In times of rising prices, having exposure to tangible assets like silver, oil and gold often retain their value better than paper assets.

The reason I mention silver, oil and gold is because they were the top performing commodities in the first half of 2024. Let’s dive into what’s driving these trends and what they might mean for investors.



Wall Street ends mixed while Nvidia gains​

  • Nvidia gains; other heavyweights mixed
  • Fed's Powell wants more "good" economic data
July 9 (Reuters) - Wall Street ended mixed on Tuesday after U.S. Federal Reserve Chair Jerome Powell told lawmakers that more "good" economic data would strengthen the case for rate cuts.

AI chipmaker Nvidia (NVDA.O), opens new tab climbed, offsetting declines in other chip stocks.

Tesla (TSLA.O), opens new tab gained, while Microsoft (MSFT.O), opens new tab lost ground.

In testimony before Congress, Powell said that while inflation "remains above" the 2% soft-landing target, it has been improving in recent months and "more good data would strengthen" the case for interest-rate cuts.



Morning Bid: Calm markets as China skirts deflation, NZ doves coo​

July 10, 2024 6:08 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Even if U.S. inflation remains too irksome for the Federal Reserve to sound the all clear, there's much less trepidation overseas.

Fed chair Jerome Powell gave little away in Tuesday's congressional testimony, remaining coy about the timing of a first interest rate cut as the price picture remains murky but also doffing his cap to a softening jobs market.

Although he reprises the appearance to the House Financial Services Committee on Wednesday, nothing he said shifted the dial much.



Global lithium sector eyes Argentina's salt flats on tech test run​

SALAR CENTENARIO, Argentina, July 10 (Reuters) - In a dusty plain in northern Argentina's mountains, black tubes stretching two stories high fill a massive tank with salty brine sucked from deep below ground.

The brine contains lithium, a silvery white metal essential for making electric vehicle batteries and in high demand as the world shifts to green energy. French miner Eramet (ERMT.PA), opens new tab is attempting to use an innovative technique, known as direct lithium extraction, or DLE, in a race for cleaner, faster and cheaper ways to produce the metal with less water.


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