Fragile bulk recovery facing headwinds

Global iron ore shipments rose in Q1 2024 but with Chinese steel production weaker than expected, future shipments may decline due to oversupply.

Cargill has completed the acquisition of US-based Owensboro Grain Company, a family-owned soya bean processing facility and refinery in Kentucky.

Cargill will add the fifth-generation family-owned soya bean processing firm to its North American agricultural supply chain business.

After a slow start to the US soya bean export season, partly due to disruption from Hurricane Ida, US soya bean inspections ahead of exports jumped to 1.6 Mt in the week ending 7 October.

After a week of ups and downs, US wheat prices remain virtually unchanged, while corn values are down US$15/t following the liquidation of corn/wheat spreads and talk of a higher US corn area.

Bruks Siwertell is to supply a new ship-unloader to Novo Remanso Port Terminal (TPNR) in Brazil.