Many will know this but in case you don't or need to explain to someone someday, here are the acronyms for the 3 main Black sea port regions🚢: NTT = 3 main Russian 🇷🇺deep sea ports: Novorossiysk (Novo), Taman and Tuapse POC = 3 important Ukrainian🇺🇦 ports: Pivdennyi, Odessa

The replacement cost CFR Asia from the PNW for Jan is significantly lower than Brz and Arg for Dec. If this trend continues, the US will likely be the main source for all upcoming tenders #corn

No Bull's 5⃣ Spot on Barchart Aug-Dec is normally prime #corn export season for Brazil w/80% of its program shipped in that window. Surging Brz premiums & drought in Ukraine have left US corn winning by default though resulting in a flurry of US sales barchart.com/story/news/292…

🌾 #Hedgefunds are staying cautious in #agriculture markets ahead of the November 5th U.S. elections, weighing better S.A. forecasts and the strong dollar 💵 versus firm spot cash demand. 💪

🌐 Commitments of Traders Update

Gasc wheat 🌾 tender lineup dd

Spot #wheat ex Delhi cmp 3180, just short of ATH 3220. Various fibonacci retrecement convergance indicates probable tgts r 3300-3520. Rabi sowing get delayed due to abv normal temprature. According to Elliotwave, mkt is in upward impulse. 5th wave tgt somewhere between 3300-3700.

The only thing more disappointing than yet another Nebraska loss is the fact funds sit at their largest net long in #corn since Feb 2023 & futures are in the low 4s vs $6.50 then

#Brazil #soy planting at 83% of area vs 74% at this time last year. Good progress with Mato Grosso 99% done. Chart and data by Pátria AgroNegócios

📉 Biggest week of #hedgefund SELLING since June! Funds sold important #agriculture markets like Soybeans, Soybean Meal, Cotton, and Sugar last week. The drivers: the strong U.S. dollar 💵 , non-threatening S.A. weather ☀️ , and diminished 2025 U.S. export prospects. 🌎

Back down we go! 📉 #Hedgefund positioning across the #agriculture complex felt 'topped out' in mid-November, and funds have now re-established new shorts due to record Brazilian production forecasts, trade war concerns, and the strong dollar. 🌾 💵

Managed Money hedge fund traders sold a RECORD number of Soybean Meal contracts last week (-55k contracts) 📉 , and Soybean Meal is now the world's #1 most cheap & oversold commodity market 🏆. Prices are LOW and speculators are SHORT. 💰⬇️

The Trump rally 1. Markets are in a repeat of 2016 2. USD is up 4% on expected fiscal easing. 3. In 2016, USD rose 6% through December. 4. This 1st stage of Dollar strength can still run. 5. Tariffs start a 2nd stage of Dollar strength. 6. That stage will spark lots of EM chaos.

🚜 #Ags this week: The macro mood is mixed 📊 (Crude recovering, USD bid) ahead of the quiet Thanksgiving week. S.A. weather looks great ☀️. Corn demand is strong, but Soybeans are weighed down by global production and likely 2025 tariffs. Meal is cheap and oversold. 🌏

In the two-and-a-half weeks since the US election, only the Euro has fallen more than in the same period after Trump's surprise win in 2016 (top left). Mexico's Peso (top right) and the Yen (bottom left) are doing better, while China's Yuan is in line with 2016 (bottom right)...

Bogdan Kostetsky, COO of Barva Invest, joined the panel "Grain Markets: A Turning Point in Global Trade” to highlight the silent #crisis in global #wheat production. 🌍 Details and key insights are in the thread below ⬇️ 1/3

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#Hedgefund managers are cautiously building new #agricultural positions 🌽 as spot cash demand signals look more supportive 🚜 and the #macro mood has stabilized. 📊

Corn basis for safrinha 2025 is cheaper than LY. The win-win combination: Producers are selling 7-8 Brl per sack above LY, and the replacement cost is 30 c/b below LY (the 12 Month Brl/usd 6.48 vs 5.07 LY). Farmer selling continues to grow. #corn #brz