Monthly Archives: December 2014

MidCo Update

  Corn and soybeans are higher in a thinly traded market, wheat is mixed. Soybeans are gaining as vegetable oils rally following production concerns in Malaysia. Heavy monsoonal rains this year has lowered palm oil production ideas. Also finding traction are dryness concerns in Argentina, although rain is forecasted. Russia announces they will introduce export duties on wheat beginning Feb 1st more

MidCo Morning Comments

Good morning. The big news yesterday/this morning is the Russian announcement of an export tariff to be placed on wheat beginning February 1st. The tariff will be at least $35 euros/MT ($43MT). Current thinking is that 4 to 5 MMT’s of wheat exports will be switched from Russia to other countries. The fact that Russia will continue to ship wheat through January is the bearish factor. No significant changes have