BASIC & RECENT MARKET INFO

Highlights Eduardo Vanin reported yesterday: "Soybean (export)  lineup to China. Shipments in the last 4 weeks at 4.5 million mts and nominations (export sales not shipped) at 4.7 million mts. Both numbers are too low. Soybean stocks in China will drop fast. Add to this the very slow harvest in Brz. Soybean auctions demand will jump."   AgRural claims it is an independent, privately owned Brazilian agricultural consultancy established in Curitiba, Paraná, since 1996. It provi

Highlights The Labor Department reported yesterday morning the Consumer Price Index  (CPI; inflation at the retail level) increased 0.2% in October, taking the 12-month inflation rate up to 2.6%. Both numbers were in line with expectations. Later this morning, we will get the Producer Price Index (PPI), the measure of inflation at the wholesale level. The market expects it was up 0.2% in October as was the CPI. CPI chart for the last years: On Ag Talk, a Cherokee, Iowa farmer

Tidbits The Panama Canal uses fresh water from Gatun Lake to fill the locks to raise the ships. The water level of Gatun Lake is right where it normally is this time of year, just shy of 88 feet. A year ago, it was just shy of 80 feet and traffic through the canal was restricted.   The United Nations reported world food prices rose in October to an 18-month high as vegetable oils led to price increases of most food staples.   The 29th Conference of the Parties to the UN Frame

Tidbits The 3-day ProFarmer tour starts on Tuesday and will cover OH, IN, IL, IA, SD, NE and MN. State yield estimates will be issued each day. ProFarmer will release its own US national yield estimates on Friday. Out of the past 10 years, ProFarmer's corn yield estimate has been below USDA's final yield by an average of 1.5% and soybean estimates averaged 2.6% below USDA’s final yield. In 2023, Pro Farmer's corn yield estimate was 168.1 bpa vs. USDA's final 177.3 (5.0% under

Highlights Eduardo Vanin reported Sunday grain export traders in Brazil are planning to extend the soybean export program through July, and possibly into August because farmers are selling very little corn, but they are selling enough soybeans to load some ships. Kory Melby expects Brazil will soon be out of beans.   Argentine farmers’ soybean sales stalled in June, the head of the country’s crushing and export chamber (CIARA-CEC) told Reuters, down 45% from May’s sales as a

Highlights Yesterday was a painful day for those of us expecting this oversold corn market to recover a bit before tomorrow’s USDA Actual Planted Acres, Quarterly Grain Stocks, and Wheat Production Reports.   Computer programs that track carryover numbers and price history say the corn market is trading a 2.7 billion bushels new crop carryover. The USDA projected carryover is at 2.102 billion bushels.       The USDA used a corn yield of 181 on the last two S&Ds. The best aver

Acid Rains Twenty or so years ago, acid rain, according to the world’s governments and environmentalists, was going to kill us all. Acid rain was acidic because sulfur dioxide (SO2) was washed out of the atmosphere by the rain. The result was ULSD and ocean ship fuel regulations were introduced in 2020, which sharply reduced sulfur dioxide pollution. Ocean freighters burn a huge amount of fossil fuels 247.     Now, scientists say reduced levels of SO2 may have made the ocean