Tidbits, Oil Tankers, Bird Flu, PMI 2/23/25
- Wright team
- Feb 23
- 4 min read
Highlights
Three oil tankers in the Mediterranean Sea and another in the Baltic Sea, have been damaged by blasts this month. All four had recently loaded crude oil at Russian ports. The causes of the incidents remain unclear, but it appears to be terrorism against Russia. Italy has launched a terrorism investigation after two explosions blew a hole below the waterline of the Greek-operated oil tanker while it was anchored on Saturday off the southern port of Savona-Vado and discharging oil.
Russia’s Transport Ministry instructed seaports to inform shipowners that vessels will need to be inspected upon arrival by divers.
Kory Melby reported from Brazil: “There basically is no “spot (cash) corn” available unless it is in southern Brazil as a first crop that is now ready for harvest. RGDS has some very nice 1st crop corn.”
On Brazil’s grain futures exchange, known as “B3,” corn futures usually bottom in the first half of August, but in 2024, B3 corn bottomed on 8 July 2024 and have been in an uptrend ever since.
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