BASIC & RECENT MARKET INFO

Tidbits Venezuela:  Since 2 September, the U.S. military has destroyed 7 small vessels after leaving Venezuela on course to the U.S. because they purportedly were carrying illegal drugs. One of them was a submarine this past week.   The past two months, the U.S. has moved a considerable amount of military hardware to locations very near Venezuela, including B-2 Stealth bombers and B-52 bombers flying off Venezuela’s coast nearly every day this past week near the two islands w

Tidbits It has been a very dry year for Nebraska , but South Central Nebraska sure did not need all 7 inches of rain (18cm) it received yesterday according to 247AG. Note the rainfall map:  CHS reported yesterday morning U.S. Secretary of Commerce Lutnick said the U.S. and China  signed an agreement on Tuesday that formalizes an understanding that U.S. trade countermeasures  will be removed when China resumes rare earths exports to the U.S. He also said that Trump is ready to

Tidbits Yesterday morning, the USDA announced the sale of 554,400 mts  of new crop (2025 corn) and 75,600 mts of 2026 corn  to Mexico . Somebody in Mexico thinks corn is really cheap to be buying that much for future delivery. Mexico’s wheat imports for the 2025/26 season are projected to rise to 6.4 million mts due to its lowest harvest in 30 years. Current season import estimates are at 5.2 million mts. The U.S. remains the primary supplier with a share of about 73%, follow

Highlights Corn is pricing-in: The rain that fell in Argentina over the weekend and the heavy rains expected in the next 10 days. While those rains will save a lot of corn, it will not replace the lost yields. Even USDA reduced the Argentine corn production two weeks ago. Those bushels are not coming back. The anticipation of a big increase in 2025 corn acres from the USDA’s Outlook Forum on Thursday. Everyone has been talking about big 2025 corn acres for months. The expecta

Highlights Crude oil  futures lost a dollar Thursday morning and closed about 40¢ lower after President Donald Trump repeated a pledge to raise U.S. oil production to lower energy costs. That statement unnerved traders despite Trump also said sanctions would be enforced and new sanctions applied that would eventually drop Iran’s crude oil exports to zero. Iran exported about 1.7 million barrels per day in 2024, up from 1.4 in 2023 and 900,000 barrels per day in 2022. With cru

Tidbits A trade dispute panel ruled Mexico violated the USMCA (US, Mexico, Canada Agreement) when it banned the import of GMO corn  in early 2023. As Mexico is the top destination for U.S. corn, yesterday’s ruling is a win for U.S. corn farmers.   However, note that shortly after Mexico announced the ban on GMO corn, Mexico modified the regulation to just human consumption corn, which is not much corn.         Bulgaria's oilseed crop  this year was its lowest crop in more tha

Tidbits North Dakota utility regulators granted approval on Friday for a span of a proposed carbon dioxide pipeline that would cross five Midwestern states. The state’s Public Service Commission voted unanimously to approve a siting permit for Summit Carbon Solutions’ modified, 333-mile route in North Dakota. The company’s proposed $8 billion, 2,500-mile pipeline system would carry tons of CO2 emissions from 57 ethanol plants in five states for storage deep underground in Nor

Highlights The US Congress did pass a temporary funding bill yesterday to keep the US government operating until December 20. It is assumed President Biden will sign it since all Democrats in the Congress voted for it.   Grain workers at Canada’s biggest grain loading port did go on strike Tuesday. Vancouver port handled about 52% of grain produced in Canada last year.   About 45,000 dockworkers at every major eastern and Gulf coast port are scheduled to strike midnight 30 Se

Highlights Mexico is the leading export destination for US corn, receiving from 21% to 32% of US corn exported annually in recent years. US corn export sales to Mexico are at a near record pace.   There are six railroad border crossings from the USA to Mexico. Two of them have been closed since 8 AM Monday as the Biden Administration pulled border personnel working the crossings to assist with the illegals crossing in the USA. However, others say the two border crossing point

Highlights Mexico has officially scrapped the ban on GMO corn imports for animal feed and industrial use that was due to start in January. Mexico still plans to prohibit glyphosate and GMO corn for human consumption. That human consumption corn has never been a sizable percent of their corn imports. President Biden Administration said yesterday morning another 26 million barrels will be released from Strategic Petroleum Reserve (SPR) as Russia cuts production. That and the C