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MARKET HOLDS ONTO BULLISH GRAIN STORY
Winter wheat dryness has intensified, as ongoing dryness across the US High Plains has limited moisture for wheat germination and establishment. This has pushed Kansas and CBOT wheat prices higher, with the US hard red wheat carry-out expected to be at a multiyear low. As the bread basket of Ukraine, the southern region remained short […]
Tags: corn, demand, exports, grains, offtake, supply, wheat -
ORIGIN BEAN CRUSH SLOWS AS CHINA GROWS
The USDA in October WASDE reduced Argentine old crop production by 700 tmt from Sep while reducing exports and crush, as Argentina loses competitiveness versus the US. Brazil crushers have also started to feel the shortage of beans, despite previously loading significant meal. Despite the changes from September, the USDA estimates major origin crush to […]
Tags: ag, Argentina, brazil, crush, exports, soybean meal, Soybeans, US, USDA -
US LPG Loadings Reaching Record Levels in August
Naphtha’s price surge in May and June has made LPG more cost effective for petrochemical crackers that are able to switch feedstocks. LPG prices moved only slightly higher during the naphtha rally, and especially so in producing regions such as the US. As a result, a favorable arb developed for US suppliers, and loadings are […]
Tags: lpg, Naptha, petchem, US shale -
Impact on Olefin supply from petrochemical crackers outages
Petrochemical cracker outages can impact olefin supply and feedstock demand in the ports where they reside, but mixed results from a few recent events may be more of an indication of things to come. Naphtha offtake in East Asia so far in August is up nearly 4% from July. Similarly, ethylene offtake is strong with […]
Tags: ethylene, lpg, olefin, petchem, propylene -
LPG Markets are Back in Favor
July finished with additional signs that the LPG markets are coming back into favor, with overall offtake increasing 14% from June. Higher discharges took place in parts of Asia, where Japanese and South Korean imports each grew 24%, to 324,000 bpd and 333,000 bpd respectively. Greater demand from petrochemical manufacturers was a factor, as Idemitsu’s […]
Tags: lpg, petchem -
July 2020 Review of Global LNG Flows
Global exports of liquefied natural gas in July totaled approximately 28.7 million tons on board 474 vessels, much lower than July 2019’s pace of 31.7 million tons, with a reduction of loading from the US & Pacific regions. Approximately 27.6 million tons arrived on 471 vessels at import terminals in July, compared to 30.8 million […]
Tags: Floating LNG, global lng market, Liquefaction, LNG, LNG exports, Natgas, oil, Regasification -
Recent Price Gains in the Ethylene and Propylene Markets
Recent price gains in the ethylene and propylene markets have been matched by chemical makers’ official selling prices with several price increases announced in recent months. Signs of a demand recovery from the coronavirus-induced slump continue to emerge. Global ethylene offtake is surging so far in July to 216,501 metric tons, compared to 158,684 Mt […]
Tags: petchem -
Will China and Australian Relations Boomerang Back?
The latest developments in international relations between Australia and China could result in a case of “what goes around comes around”, as Australia’s recent finger-wagging could return to haunt it. Australia hopped onto the world stage when it demanded an investigation into China for the spread of the coronavirus, which has crippled the global economy […]
Tags: australia, china, iron ore, LNG, steel, trade war