U.S. Soybean Cargo Unloaded in China
A vessel carrying U.S. soybeans has unloaded its cargo at the port of Qingdao in China on Friday, shipping data showed, amid a trade truce between China and the United States.The Star Laura, originally carrying 69,298 tonnes of soybeans loaded in Seattle, arrived at Qingdao outer anchorage in early November.The vessel's draft is now at 44 percent of its maximum depth, indicating it has emptied its load, data from Refinitive Eikon showed.The ship changed destination to South Korea in early November but came back to the port in eastern Shandong province in December…
Excessive Rain Disrupts US River Barge Shipping
Excessive rains across the central United States over the past week have slowed the harvest of corn and soybeans, while rising water levels closed at least three locks on the Upper Mississippi River, a key artery for shipping Midwest grain to U.S. Gulf exporters.Cash bids for corn shipped by barge to the Gulf firmed on Tuesday, reflecting exporter demand and dwindling pipeline supplies as rising river levels slowed barge traffic.The United States is the world's top corn supplier, and sales of the yellow grain represent one U.S.
US Sorghum Ship Switches Destination from Spain Back to Asia
The RB Eden vessel carrying 70,000 tonnes of U.S. sorghum turned around just before reaching the Spanish port of Cartagena and is now heading to Singapore, Thomson Reuters Eikon ship-tracking data showed.This marks the second U-turn for the ship amid a trade tussle between the United States and China. Anti-dumping measures announced by Beijing in mid-April led exporters to divert hundreds of thousands of tonnes of U.S. sorghum. But China dropped its sorghum probe on Friday in what was seen as a goodwill gesture.The RB Eden initially loaded at grain merchant ADM's elevator in Corpus Christi…
US Sorghum Reaches Spain as Traders Divert More Ships from China
A rare cargo of U.S. sorghum has arrived in Spain and will be followed by several more, shipping data showed, a sign that Spain's livestock industry is set to become one of the new homes for U.S. sorghum hit by Chinese anti-dumping tariffs.Exporters have been scrambling to divert hundreds of thousands of tonnes of U.S. sorghum bound for China after Beijing announced hefty anti-dumping deposits on the grain in mid-April, part of a simmering trade dispute between the world's two largest economies.Sorghum is mainly used in livestock feed and the fiery Chinese liquor baijiu.U.S.
Vessels Carrying U.S. Sorghum to China Switch Destinations
Three ships carrying livestock feed grain, sorghum, from the U.S. to China switched their destinations on Thursday to Japan and South Korea, according to Thomson Reuters Eikon ship tracking data, after Beijing hit imports with hefty anti-dumping deposits.The cargoes are among roughly two dozen bought by China but left stranded after Beijing announced last month it would hit U.S. imports with a 178.6 percent deposit on the value of sorghum shipments. The move was part of an anti-dumping probe by China as trade tensions with the U.S.
Course Change for China-bound U.S. Sorghum Bulker
A vessel carrying 58,503 tonnes of sorghum from the United States switched its destination from China to South Korea early on Thursday, according to Thomson Reuters Eikon ship tracking data. The Peak Pegasus loaded U.S. sorghum from trader ADM's Corpus Christi grain elevator in Texas and departed on April 3 for Nansha in southern China, according to U.S. Department of Agriculture data. It is now due to arrive in Gunsan in South Korea on May 10, according to the data. The cargo is one of almost two dozen bought by China but now stranded after Beijing said it would impose a hefty deposit on U.S.
U.S. Ethanol Makers Snap Up Cheap Sorghum after China Tariffs
U.S. ethanol makers have joined global livestock producers to snap up discounted American sorghum supplies after buyers in China backed out of deals due to stiff anti-dumping tariffs on the grain imposed by Beijing in a mounting trade dispute. Sorghum is used to feed animals and represents a fraction of the billions of dollars of goods that move between the world's two largest economies. The trade conflict between the United States and China has already hit shipments of agricultural produce and threatens to disrupt the flow of everything from steel to electronics.
China-bound US Sorghum Diverted to Saudi Arabia, Japan
Four U.S. sorghum shipments initially bound for China have been diverted to other countries after Beijing's move last week to impose hefty anti-dumping deposits on imports of the grain from the United States, according to trade sources and Reuters shipping data.Three of the cargoes are now sailing for Saudi Arabia after being sold to a private buyer, a U.S. trader and a Middle East-based trading source with knowledge of the matter said Tuesday. A fourth ship is heading to Japan…
Response to Mackinac Spill Continues
A U.S. Coast Guard marine science technician and an environmental quality analyst for Michigan's Department of Environmental Quality surveyed the Straits of Mackinac onboard a vessel Thursday. The responders did not identify any mineral oil sheens, signs of pollution, or adverse impacts to the environment or wildlife. Earlier this week, hundreds of gallons of mineral oil has been released from a leaking underwater utility line in Michigan’s Straits of Mackinac. Members of the U.S.
Importers Buy U.S. Corn at Record Pace
Importers are buying U.S. corn at the fastest pace since the mid-1990s, according to U.S. government data, as tightening stocks in Latin America prompt a rush to purchase cargoes of the grain from animal feeders worldwide. A deepening drought in Argentina and limited corn supplies in Brazil, two of the three largest exporters, have opened a window of opportunity for top supplier the United States, which has the largest available surplus for export. The shopping spree comes as a rare bit of good news for U.S.
Flooding Cripples Grain Barge Shipments in U.S. Midwest
Grain barge shipping came to a near standstill in parts of the U.S. Midwest on Thursday as recent heavy rain and melting snow swelled rivers, halted barge loading and sidelined the towboats that haul farm belt crops to Gulf Coast export terminals. The flooded waterways sent cash premiums for corn barges delivered to Gulf Coast terminals soaring. Rates hit peaks on Thursday that have not been seen in 18 months, as exporters scrambled to secure enough grain to top off vessels bound for overseas markets, traders said.
US Soy Cargo to China Traded Using Blockchain
A cargo of U.S. soybeans shipped to China has become the first fully-fledged agricultural trade conducted using blockchain, participants said on Monday. Louis Dreyfus Co, Shandong Bohi Industry Co, ING, Societe Generale and ABN Amro took part in the trade where the sales contract, letter of credit and certificates were digitalised on the Easy Trading Connect (ETC) platform. "We noticed very significant efficiency gains ... far beyond what we expected," Robert Serpollet, global head of trade operations at Louis Dreyfus…
New Orleans Joins Cold Treatment Pilot Program
The Port of New Orleans announced a new opportunity for shippers looking to transport perishable cargo from South America. Port NOLA received approval by the U.S. Department of Agriculture for inclusion in the Southeast U.S. In-Transit Cold Treatment Pilot Program. Participation in the Animal and Plant Health Inspection Services (APHIS) pilot program means select time-sensitive products can be treated to meet customs compliance in-transit rather than after it arrives to the U.S. – resulting in shorter transit times and increased efficiency for shippers.
Winter Weather Delays Grain Movement to US Ports
Severe winter weather has slowed rail deliveries of crops to shippers in the U.S. Pacific Northwest, sending freight rates soaring and prompting Asian buyers to seek fill-in loads as they wait for the backlog at ports to clear. Blizzards, avalanches and heavy rain in recent weeks have hit transport of corn, soy and wheat to ports where they head for the lucrative Asian market, adding to the struggles that have plagued U.S. exporters since harvest. The setbacks come at a critical time for U.S. exporters, who are trying to move as much grain as possible before buyers turn their attention to South America when corn and soybean harvests in Argentina and Brazil accelerate in the coming weeks.
Flood Risk to Persist in Mississippi River Basin
Heavy winter rains have left the Missouri and Mississippi River basins, from Iowa to Louisiana, at an elevated risk of moderate flooding through June, U.S. government forecasters said on Thursday. The risk extends to eastern Texas and the southeastern Coastal Plain, the National Oceanic and Atmospheric Administration (NOAA) said in issuing its spring outlook. Early spring storms fueled by El Nino have already drenched areas of Louisiana, eastern Texas, Mississippi and Arkansas with up to 20 inches (50.8 cm) of rain…
Savannah Handles Imported Grapes
The Port of Savannah is now handling grapes imported from Peru, adding to the list of cold-treated perishables using Savannah as a port of entry. "Savannah currently handles avocados, citrus and sweet onions from Peru," said Georgia Ports Authority Executive Director Curtis Foltz. The grapes, moved from Andean Sun Produce farms in Ica and Piura, Peru, are part of a U.S. Department of Agriculture program, in which citrus, grapes and blueberries are chilled for at least 17 days prior to entry into the U.S. Removing potential pests via cold treatment reduces the need for pesticides.
Euronext Says Working on Black Sea Wheat Futures
The rising influence of Black Sea markets on world prices prompted Euronext to start working on developing futures contract that would allow price hedging in one of the world's largest export zones for the grain, it said on Friday. Production swings in the Black Sea and European Union have become the main drivers of world wheat prices to the detriment of Chicago futures as U.S. farmers increasingly turned to corn and soybean crops, analysts and traders said. "Having assessed the long-standing need for a proper price-setting mechanism in that production zone, we are now engaged in a serious reflection about a careful design," Euronext head of commodities Olivier Raevel told Reuters at the Cereals Europe conference in Geneva.
PortFresh Expanding Savannah Port's Chilled Cargo Capacity
A new Georgia-based company called PortFresh Logistics has announced plans to build a 100,000 square-foot cold treatment facility dedicated to perishable cargoes imported through the Port of Savannah. The facility, slated to open in late summer 2016, will strengthen Savannah in its role as a new entry point for South American produce. "We are proud to welcome PortFresh Logistics to the community of service providers supporting customers at the Port of Savannah," said Georgia Ports Authority Incoming Executive Director Griff Lynch.
China Steel, Iron Ore Slip Deeper into Bear Territory
Chinese steel and iron ore futures fell deeper into bear market territory on Thursday, as the country's exchanges unveiled more measures aimed at dampening the type of speculative trading behind a powerful rally last month. The aggressive steps to limit speculative buying have helped fuel a retreat in raw materials from steel to coal after the mid-April upsurge that inflated volumes and prices to levels that some analysts felt defied fundamentals. On Wednesday, the Dalian Commodity Exchange said it would set a maximum open interest limit for the trading of a single contract in a certain period, excluding business for hedging purposes. The move is aimed at preventing investors from taking excessive positions.
Hanjin Woes Seen Impacting Ports, Shipping Lines for 2-3 months -USDA
The collapse of Hanjin Shipping is expected to cause difficulties with port operations and shipping lines for 2 to 3 months, the U.S. Department of Agriculture said in a report published on Thursday. The failure of the world's seventh-largest container carrier is also expected to delay processing of U.S. agricultural products and will likely increase costs of imported agricultural goods in South Korea, the agency said. (Reporting by Karl Plume in Chicago)
Harvest Halts as Rains Douse Midwest, Could Impact Barge Loading
Heavy rains and flooding swamped a broad swathe of the northern Midwest this week, halting the harvest of corn and soybeans and forcing the closure of at least two Iowa crop processing plants, traders and farmers said on Friday. Farmers' concerns grew that standing water in fields could damage unharvested crops, while floodwaters swelled the Mississippi River and threatened to disrupt the loading of export-bound grain barges. Parts of northern Iowa and southern Minnesota received several inches of rain at midweek…
Florida's First Ocean-to-Air Transhipment
Already the busiest port of entry in America for international air freight, Miami International Airport will soon be able to receive perishable freight imports by sea as well – a first for any Florida airport – through a permit approved in September by the U.S. Department of Agriculture (USDA). The first ocean-to-air trans-shipment is expected at MIA before the end of the year. “Congratulations to MIA and Port Miami, our County’s two largest economic engines, on collaborating to generate new revenue and better serve our local cargo industry,” said Miami-Dade County Mayor Carlos A. Gimenez.
Asia Dry Bulk-Capesize Rates to Slip Further
Chartering activity falls as holidays loom; Rio Tinto offering rates 5.5 pct lower than index level. Freight rates for large capesize dry cargo ships on key Asian routes will slide further next week in a lacklustre chartering market ahead of Christmas, ship brokers said. "The market is pretty dead," a Shanghai-based capesize broker said on Thursday, adding that: "It is hard to find the ship owner's person in-charge of chartering. Australian miner Rio Tinto was seen putting pressure on charter rates on Thursday…