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Chinese Battery Powered Containership | 700 TEUs | Container Sized Replaceable Battery Packs​

Aug 7, 2023
8:23

In this episode, Sal Mercogliano - maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses COSCO receiving the first 700 TEU battery powered containership for use on the Yangtze River and the innovative use of battery power packs.

Yara Debuts Yara Birkeland, the World’s First Autonomous and Emission-Free Containershiphttps://gcaptain.com/yara-birkeland-w...
China Launches First 700 TEU Electric Containership for Yangtze Servicehttps://www.maritime-executive.com/ar...
 

China goes for the jugular on strategic minerals​

Gallium tops the list of 50 critical minerals deemed vital for American national security and hi-tech production, and deemed most vulnerable to supply-risk by the US Geological Survey. It is equally vital to Europe and the UK.

There is no US national stockpile. The Pentagon has confessed that it has no military reserves. It seems that the bureaucratic system has only just woken up to the irreplaceable properties of this silvery trace metal in advanced weaponry and in the race for global dominance of electric vehicles, 5G & 6G wireless and power electronics.

“Gallium nitride (GaN) is foundational to nearly all the cutting-edge defence technology that we produce,” said Colin Whelan, head of advanced military projects at Raytheon.

The Chinese today produce 98pc of the world supply of primary gallium. The figure falls to 80pc for purified gallium used in industry, but you cannot reach that stage without access to the raw material. This is the metal that China has chosen to target along with its sister germanium, 31 and 32 respectively on Mendeleev’s periodic table. It won’t be the last.

Read the rest here:

 
  • Russian turning to "shadow fleet" to move its grain, sources say
  • Major global grain traders reduce activity in Russia
  • Russia aiming to export volumes of wheat near record highs
  • Russian-operated fleet of grain ships well below needs

After attacking Ukraine wheat exports, Russia faces own shipping challenge

Russia's lack of ships and Western grain traders' shrinking appetite for business with Moscow are adding to rising costs of moving Russian wheat, at a time when the war in Ukraine has spilled perilously close to vital Black Sea supply routes.
www.reuters.com
 

Drewry Freight Loop Container Market August 2023​

Jul 30, 2023

3:21

Simon Heaney, Senior Manager Container Research at Drewry provides a snapshot review and forecast of carrier profitability taken from the 2Q 23 Edition of Drewry Container Forecaster.
 

Private crop yield estimates optimistic​

Aug 8, 2023

14:36

Market recap (Changes on week as of Monday's close):
- September corn down $.22 at $4.82
- December 2023 corn down $.18 at $4.95
- September soybeans down $.22 at $13.48
- November soybeans down $.29 at $13.02
- September soybean oil up 1.00 cent at 64.08 cents/lb
- September soybean meal down $4.60 at $419.20/short ton
- September 2023 wheat down $.08 at $6.57
- July 2024 wheat up $.45 at $7.36
- June WTI Crude Oil down $.22 at $81.66/barrel

Weekly Highlights
• Oil prices spike for a moment after the Energy Information Agency reported US oil stocks fell 4% week over week. Concerns in the broader market then cooled prices. Midwest Distillate fuel (diesel) stocks have also rebuilt after being relatively tight.
• US ethanol production fell to 314 million gallons- down from the multi-year high of 322 million gallons the week prior.
• USDA’s most recent ag export sales report was slightly bearish for corn and slightly bullish for beans.
• The conflict in the Black Sea escalated again Thursday evening when Ukrainian forces attacked the Russian port of Novorossiysk. This is the first time during the conflict Russian supplies of grains have been threatened.
• Open interest positions were mixed on the week but largely down: corn (+2.5%) and cotton (+7.5%) were up while soybeans (-5.4%), soybean oil (-2.8%), and soybean meal (-0.1%) and rough rice (-0.7%).
• Managed money traders decreased their net long positions of Chicago corn and soybeans by 9,862 and 26,246 futures and options positions respectively.
• US farm land values gained 7.4% in 2023 compared to 2022, rising to $4,080/ acre. Crop land was up 8.1% while pasture land values were up 6.7%.
• Weekly US Ag Export Inspections for last week were relatively soft for grains and oilseeds. Wheat was bearish coming in below the range of pre-report expectations.
• US corn condition composite score increased 4 points to 349 (perfect score 500). Soybean condition composite score increased 5 points to 345. Cotton conditions dropped 3 points to 300. Rice was up 3 points to 383. Sorghum was up 6 to 351. Spring wheat down 6 to 319.
• 87% of the US winter wheat crop has been harvested compared to 85% at this time last year and a three-year average of 88%.
 

Breakingviews - Black Sea wheat war is sideshow for grain deal

A fast-escalating wheat war in the Black Sea may have a silver lining. Russia’s and Ukraine’s bombing of each other’s ports could prevent crucial grain exports from reaching world markets, and lift food prices up again. Yet the attacks could also persuade the two enemy countries it’s in their...
www.reuters.com
 

2024 Equipment Outlook: Look for Shallow Trough​

Aug 11, 2023

9:23

In this episode of On the Record, Analyst Chris Johnson forecasts the ag equipment industry will see a "shallow trough" slowdown. In the Technology Corner, Noah Newman takes a look at precision tech at this year's National Strip-Tillage Conference. Also in this episode, farm production expenditures are up for 2022 and Kubota reports earnings for the first half of 2023.

00:23 2024 Equipment Outlook: Look for Shallow Trough
02:33 Growing Interest in Precision Technology at National Strip-Tillage Conference
04:12 Farm Production Expenditures Jump in 2022
06:25 Kubota Reports $2.7 Billion in YTD North American Ag Sales
08:19 DataPoint: Farmers’ Large Investments

LEARN MOREhttps://www.farm-equipment.com/articl...
 

AgDay 08/11/23​

20:13

On the air for nearly four decades, AgDay is the newscast of record for American agriculture. Along with providing the nation’s farmers and ranchers with the latest news, weather and business headlines, AgDay reaches out to every household with the story of American agriculture, featuring the people and places unique to the industry and small-town America. In addition to hosting AgDay, Clinton Griffiths serves as editor of Farm Journal and was the 2019 Farm Broadcaster of the Year.

Visit AgWeb.com, Agriculture's No. 1 website for industry information, markets and news. https://www.agweb.com
 

Cutting Farm Subsidies​

AUGUST 10, 2023 3:01PM

The bipartisan debt‐ceiling deal passed in June reflected a new congressional focus on spending restraint. Congress should extend the restraint when it considers a major farm bill this fall. Cutting farm subsidies is a good way to tackle wasteful spending and reduce budget deficits.

Which farm programs should Congress cut?

The chart shows U.S. Department of Agriculture (USDA) outlays on farm programs based on fiscal‐year data from President Biden’s budget. Figures for 2023 are estimates. The spending includes direct cash handouts to farmers and indirect support from programs such as agricultural research.

More:

 

Gold Price Recap August 7 - 11

Happy Friday, traders. Welcome to our weekly market wrap, where we take a look back at these last five trading days with a focus on the market news, economic data, and headlines that had the most impact on gold prices and other key correlated assets—and may continue to into the future.
goldprice.org
 
  • Over recent years food prices have been inflated by the pandemic and war in Ukraine – this summer’s extreme temperatures are exacerbating the problem.
  • Soybeans, olive oil and rice are just three of the products being affected by shortages and price hikes.
  • A World Economic Forum report calls on the financial sector to direct more resources into helping the food and agriculture sector to become more sustainable.

Record temperatures are driving food prices higher. Here are some of the crops facing the biggest impacts

Extreme temperatures and droughts around the world are causing crops to fail and leading to shortages.
www.weforum.org
 

The Commodities Feed: Tighter market supports prices​

ICE Brent has registered seven consecutive weeks of gains as tighter fundamentals continue to feed through to a stronger flat price and time spreads. The oil market will likely pay close attention to Chinese economic data this week which offers some insight into how the Chinese economy fared in July .

The Commodities Feed: Tighter market supports prices

ICE Brent has registered seven consecutive weeks of gains as tighter fundamentals continue to feed through to a stronger flat price and time spreads
think.ing.com
 
AgDay 08/15/23

20:16

Harvest is working its way north, just as oil prices drift higher. We have a look at what's pushing prices at the pump. Plus, the pork industry worries about fresh consolidation as margins crumble.
 
The Joseph Schulte, a 10-year-old, 9,400 teu boxship, will be today’s most watched ship via multiple vessel tracking sites as it becomes the first ship to trial Ukraine’s recently announced ‘humanitarian corridor’ to allow the many international ships stranded since war began in February 2022.

“A first vessel used the temporary corridor for merchant ships to/from the ports of Big Odesa,” Ukrainian deputy prime minister Oleksandr Kubrakov said on Facebook.

Hong Kong-flagged boxship the first to break out of Odesa - Splash247

The , a 10-year-old, 9,400 teu boxship, will be today’s most watched ship via multiple vessel tracking sites as it becomes the first ship to trial Ukraine’s recently announced ‘humanitarian corridor’ to allow the many international ships stranded since war began in February 2022. “A first vessel...
splash247.com
 
The criminal process against the people who allegedly staged accidents with trucks in the New Orleans area has taken a new turn, just weeks before a key sentencing in the case.

The first new indictments in the case in more than a year that were not accompanied by parallel guilty pleas were announced Monday by the U.S. attorney for the Eastern District of Louisiana. Most indictment announcements have been accompanied by guilty pleas to mail fraud or wire fraud charges, though after the rush of announcements of 2021 and 2022, the past few months have been relatively quiet.

The five new indictments come just a few weeks before the sentencing of Damian Labeaud. Lebeaud is scheduled to be sentenced Aug. 31 after earlier delays.

Louisiana staged accident scam investigation springs back to life with 5 new indictments

Five new indictments have been handed down by the U.S. attorney in the New Orleans-area scam to stage collisions with trucks and collect insurance dollars.
www.freightwaves.com
 
From bad to worse. The sense of despondency that has set in among many dry bulk owners this year has added a further layer of glumness with news from New York where China’s Evergrande Group, an embattled real estate developer, has sought Chapter 15 bankruptcy protection.

Chinese real estate is one of the biggest drivers of the seaborne iron ore trades. The property sector in the People’s Republic has been under significant duress for the past couple of years with Evergrande’s plight making many headlines in particular.

Dry bulk’s malaise ever grander with demise of top Chinese property developer - Splash247

From bad to worse. The sense of despondency that has set in among many dry bulk owners this year has added a further layer of glumness with news from New York where China’s Evergrande Group, an embattled real estate developer, has sought Chapter 15 bankruptcy protection. Chinese real estate is...
splash247.com
 
The price of gallium is said to have hit a 10-month high following export restrictions from China, which kicked in at the beginning of August in response to Western sanctions on sales of advanced technology to the country.

Beijing announced back in early July that it was imposing export controls on gallium and germanium, plus many compounds containing these metals that are used in semiconductors and other electronic components.

China is the largest global source for these materials, and since August 1, anyone wishing to export them has to apply to the Chinese Ministry of Commerce and obtain a license to do so.

Cost of gallium peaks after Chinese export restrictions land

Measures needed to protect 'national interest,' says Beijing. Rubbish, it's retaliation, scoff critics
www.theregister.com
 

Gold Price Recap August 14-18

Happy Friday, traders. Welcome to our weekly market wrap, where we take a look back at these last five trading days with a focus on the market news, economic data, and headlines that had the most impact on gold prices and other key correlated assets—and may continue to into the future. There’s...
goldprice.org
 

Has Russia Turned the Black Sea into a Blocked Sea? | Ukraine Maritime Lane | Russian Oil Cap​

Aug 18, 202

19:45

In this episode, Sal Mercogliano - maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the recent Russian boarding of a commercial ship sailing from the Turkish Strait to the Ukrainian port along the Danube River, the breakout by the containership Joseph Schulte from Odesa, and the trade in Russian diesel and oil now that it has climbed over the G7/EU price cap.

- First Ship to Use Ukraine’s Corridor Arrives in Istanbulhttps://gcaptain.com/first-ship-to-us...
- Key Russian Black Sea port of Novorossiysk hit by firehttps://www.tradewindsnews.com/casual...
- Ukraine Reports New Attack on Grain Silos as Ship Sets Sailhttps://gcaptain.com/ukraine-reports-...
- Russian Warship Fires Warning Shots At Cargo Shiphttps://gcaptain.com/russian-warship-...
- Russia Releases Video Showing Navy Boarding Cargo Ship in Black Seahttps://gcaptain.com/russia-releases-...
- Ships Backed Up in Black Sea as Russia Warning Shots Raise Tensionshttps://gcaptain.com/ships-backed-up-...
- Stuffed Russian Grain Ports Show Risk of Black Sea Escalationhttps://gcaptain.com/stuffed-russian-...
- Sanctions on Russian crude and diesel exports are failinghttps://www.freightwaves.com/news/san...
- Freightwaveshttps://www.freightwaves.com/
- gCaptain https://gcaptain.com/
 

Placements down 8% in latest Cattle on Feed Report​

Aug 18, 2023
18:13

• This week in the markets – Live fed cattle prices were down $3.25 on the week, and feeder cattle prices were $1.00 to $3.00 higher this week. October live cattle were down $2.30 on the week, and September feeder cattle were down $2.5 on the week. Choice box beef was up $8.00 this week and stands nearly $46.00 above the year-ago level. Cash hogs were down $5.00 this week. October lean hog futures were up $0.45 on the week. Pork cutout values were down $4.15 this week on weaker bellies.
• Weekly Slaughter Numbers – At the end of the week, cattle slaughter was 616,000 head, up 13,000 on the week and down 48,000 for the year. Hog slaughter was 2.414 million head, up 60,000 from the previous week and up 7,000 on the year. Year-to-date cattle slaughter is down 4.1%, while hog slaughter is up 1.3%.
• Cattle of Feed – The August 1 cattle of feed inventory was 97.7% of the year-ago levels. July cattle placements were 91.7% of last year’s level and came in near the low end of the pre-report estimates.
• Next week's reports – Cold Storage and Livestock Slaughter
 
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