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South Korea's MFG Secures 50,000 Tonnes of Soymeal in International Tender

South Korea's MFG Secures 50,000 Tonnes of Soymeal in International Tender

The Major Feedmill Group (MFG) of South Korea has purchased approximately 50,000 metric tonnes of soymeal through an international tender. The soymeal, sourced from South America with options for Argentinean, U.S., and Chinese origins, was acquired at a cost of $414.79 per ton, including additional port unloading charges. The shipment is scheduled to arrive in South Korea by August 3, with delivery windows varying based on the source country. This purchase reflects ongoing assessments and potential future adjustments in volume and pricing by traders.
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South Korea's FLC Purchases 50,000 Tons of Soymeal, Potentially from U.S.

South Korea's FLC Purchases 50,000 Tons of Soymeal, Potentially from U.S.

The Feed Leaders Committee (FLC) of South Korea has purchased 50,000 metric tons of soymeal, potentially sourced from the United States or South America. The purchase was made from CJ International at an estimated price of $411.15 per metric ton, including a surcharge for port unloading. Some of the soymeal was bought at a premium over Chicago soymeal contracts. The shipment is scheduled between July 26 and August 20 if sourced from the U.S. Pacific Northwest, or between June 27 and July 27 if from South America.
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China's exports likely picked up pace in April on Iran war stockpiling: Reuters Poll

China's exports likely picked up pace in April on Iran war stockpiling: Reuters Poll

BEIJING, May 8 (Reuters) - China's export growth likely quickened in April, a Reuters poll showed on Friday, as companies rushed to stockpile components from the manufacturing powerhouse amid fears the Iran war could push input costs even higher.
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South Korea's FLC Purchases 132,000 Tons of Corn Amid Global Trade Dynamics

South Korea's FLC Purchases 132,000 Tons of Corn Amid Global Trade Dynamics

South Korea's FLC Purchases 132,000 Tons of Corn Amid Global Trade Dynamics
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UAE reports drone and missile attack after US says it traded fire with Iran

UAE reports drone and missile attack after US says it traded fire with Iran

The United Arab Emirates says it has responded to another Iranian missile barrage
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Morning Bid: Chip push, crude pull

Morning Bid: Chip push, crude pull

By Mike Dolan May 8 (Reuters) - Everything Mike Dolan and the ROI team are excited to read, watch and listen to over the weekend. From the Editor Hello Morning Bid readers!
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Chinese Exporters Resilient to U.S. Tariff Threats Amid President Trump's Beijing Visit

Chinese Exporters Resilient to U.S. Tariff Threats Amid President Trump's Beijing Visit

Chinese exporters have expressed confidence in their resilience against U.S. tariff threats as President Trump prepares for a visit to Beijing. Despite previous tariff hikes, many Chinese firms have maintained their U.S. client base and expanded into new global markets. This resilience is attributed to China's strong supply chains and product quality. Companies have adopted strategies to mitigate tariff impacts, such as passing costs to U.S. consumers and diversifying markets. China's national strategy of self-sufficiency and expansion into regions like Europe, South America, and Africa has bolstered its trade surplus, despite a decline in exports to the U.S.
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President Trump Pauses 'Project Freedom' Amid Progress in U.S.-Iran Talks

President Trump Pauses 'Project Freedom' Amid Progress in U.S.-Iran Talks

President Trump has announced a temporary pause on 'Project Freedom', a U.S. military operation aimed at guiding commercial ships through the Strait of Hormuz. This decision comes just one day after the operation began, as Trump cited significant progress towards a potential agreement with Iran. The announcement was made via a Truth Social post, where Trump expressed optimism about reaching a 'Complete and Final Agreement' with Iran. This development coincides with China's diplomatic engagement with Iran, as Chinese Foreign Minister Wang Yi met with Iran's Foreign Minister Abbas Araghchi in Beijing. The meeting marks the first high-level contact since the U.S.-Israel conflict with Tehran began. Meanwhile, South Korea's Kospi index has surged over 70% this year, driven by a significant rise in Samsung shares, which have pushed the company's market capitalization past $1 trillion.
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Phosphate Market Faces Long-Term Disruption Due to Strait of Hormuz Constraints

Phosphate Market Faces Long-Term Disruption Due to Strait of Hormuz Constraints

Phosphate Market Faces Long-Term Disruption Due to Strait of Hormuz Constraints
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Morning Bid: Stocks surge in Seoul as Samsung surpasses Berkshire

Morning Bid: Stocks surge in Seoul as Samsung surpasses Berkshire

A look at the day ahead in European and global markets from Gregor Stuart Hunter Global stocks were at record highs on Wednesday as some of Asia's biggest markets returned from a holiday in euphoric mood and resumed ramping up AI-related trades.
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US industries, trade groups split over Trump's tariff probe on excess factory capacity

US industries, trade groups split over Trump's tariff probe on excess factory capacity

By David Lawder WASHINGTON, May 5 (Reuters) - Domestic U.S. industries are urging the Trump administration this week to impose higher tariffs to curb the rising tide of exports from China and other countries with excess factory capacity, while import-dependent and agriculture groups want a more
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Oil prices sink and stocks leap worldwide on hopes for a reopening of the Strait of Hormuz

Oil prices sink and stocks leap worldwide on hopes for a reopening of the Strait of Hormuz

Oil prices sank, and stock markets rallied worldwide with hopes that a deal is nearing to allow tankers to deliver crude from the Persian Gulf again