Tidbits, Brazil Harvest, S&D Estimates, Export Inspections, Markets & Rain Days Update 2/7/23
Yesterday, Indonesia cancelled a high percentage, perhaps 80%, of the previously issued palm oil export permits for shipment from now into May. The deadly earthquake in Turkey and Syria will disrupt to some extent, perhaps a large extent, sunflower oil exports.
The water level of the Mississippi River north of St. Louis has enabled barge lines to increase vessel drafts. More bushels per barge = lower barge freight = firmer basis upriver = higher cash price for you.
The Saudi's raised the price of crude oil to Asian buyers by 20¢ a barrel.
Late yesterday, Adani Group announced it would pay-off as much as US$1.1 billion in loans due in September 2024 early which are backed by shares of three of its subsidiaries.
It was revealed that Hindenburg’s target is to buy Adani Group stock after an 85% decline. After the close Monday, it was down 77% from the high made in January.
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