Tidbits, Black Sea Wheat, St. Lawrence Seaway, FOB, Market Commentary 3/24/25
- Wright Team
- Mar 24
- 5 min read
Tidbits
Canadian Prime Minister Mark Carney asked for the dissolution of Parliament, triggering a snap federal election for 28 April. Another variable to deal with is the trade and tariff debate.
Mike Lee is a British agronomist who works in the Black Sea area, “The Breadbasket of the World.” We have exchanged some information with Mike for more than 20 years. Here is a 4-minute audio discussing the wheat crop condition in that area:
The ports at both ends of the Panama Canal were recently sold to financial giant Black Rock. CK Hutchinson, the seller, is owned by Li Ka-shing, an iconic billionaire in Hong Kong. As an immigrant from mainland China, Li built his empire in Hong Kong by selling plastic flowers. Now, because of the Canal deal, the 96-year-old tycoon is being labeled as a traitor for “selling out the country and the entire Chinese population” and “spinelessly kneeling” before the United States. Last week, a pro-Beijing Hong Kong newspaper published more than 10 editorials and commentaries, handing Li the above reprimand and more smears.
China has not held an auction of government soybean stocks for two months, but there is one scheduled tomorrow offering 160,000 mts. China only holds auctions of government stocks when domestic prices reach a price high enough to make the natives restless. Government stocks are always replaced in short order with imported supplies. Delayed harvest in Brazil has firmed soybean meal and bean prices in China.
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