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May 21 – A survey released on Thursday showed that UK factory orders saw their biggest drop since September 2020 this month, while sales price expectations also rose sharply. This situation highlights the predicament facing the Bank of England. Data from the Confederation of British Industry (CBI) showed that the UK industrial orders balance in May was -41, the lowest since September 2020; while the industrial price expectations balance was 38, the highest since February 2023. Cameron Martin, senior economist at the CBI, said that in an increasingly uncertain global environment, the Middle East conflict is causing energy costs to rise and triggering further supply chain disruptions, posing new challenges to manufacturers already facing weak demand. The Bank of England is currently closely monitoring the situation to determine whether it needs to raise interest rates to eliminate inflationary pressures caused by the energy price shock triggered by the war with Iran, or whether the decline in demand means that any rise in the overall inflation rate is only temporary.The UKs CBI industrial orders balance fell to -41 in May, the lowest level since September 2020. Meanwhile, the UKs CBI industrial price expectations balance rose to 38 in May, the highest level since February 2023.The UKs CBI industrial price expectations balance for May was 38, compared to 32 in the previous month.The UKs May CBI industrial orders balance was -41, compared to an expected -40 and a previous reading of -38.Iranian Foreign Minister Araqchi: If it is necessary for us to be present in the fields of diplomacy, dialogue and negotiation for the benefit of the regime, we will be there with the same strength as the armed forces are in defending the country.

River transportation issues limit US autumn grain and soy supply

Charlie Brooks

Oct 18, 2022 14:16

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Low river levels have impeded the movement of grain barges to export terminals, leading U.S. soybean exports to lag behind their normal autumnal pace despite an accelerated harvest and greater supply. Monday's release of Department of Agriculture (USDA) data.


According to weekly USDA data on export inspections, corn exports are likewise behind their normal harvest-time pace.


Low water levels on the Mississippi River and its tributaries have impeded the transportation of grain barges to Gulf Coast export terminals, where approximately sixty percent of U.S. agricultural exports are handled.


The most recent disruption in the supply chain happens at the start of the busiest time of year for U.S. crop exports, including the two most valuable cash crops, maize and soybeans.


To prevent groundings in rivers parched by drought, merchants have reduced barge tows by more than 40 percent and decreased the amount of grain loaded onto each barge. The Army Corps of Engineers has been dredging sections of the Mississippi and Ohio rivers to deepen their shipping channels.


Without extra precipitation, though, traders fear that Louisiana Gulf terminals won't be able to acquire enough grain to fulfill export contracts.


This week, according to the National Weather Service, the Mississippi River at Memphis, Tennessee, a choke point where dredging was halted for several days earlier this month, will reach its lowest level ever.


During the week ending October 6, the USDA reported that 1,882 million tonnes of soybeans were inspected for export, up from 976,877 tonnes the previous week but fewer than the 2,452 million tonnes inspected during the same period last year. Terminals on the Louisiana Gulf evaluated only 32% of this tonnage, and season-to-date inspections were 23% lower than the previous year.


Compared to the previous year, when 1.04 million tonnes of maize were inspected, only 448,423 tonnes were inspected last week. Through this point in the season, inspections were down 21%.

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