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Highlights, Export Inspections, Markets & Rain Days Update 7/12/22

Highlights


The USDA will issue its monthly US and World S&D today at 10 Mountain Time.

Benson-Quinn’s technical analysts say corn, wheat and beans are oversold, which offers support ahead of todays’ USDA reports.

The 30 days ending two days ago were the driest 30 days in Oklahoma since they started keeping records more than 120 years ago. The previous record holder was 1936 during the second Corn Belt (and Midwest) wide drought of the Twentieth Century. Those were the Dust Bowl Days.

A resurgence (once again) of COVID in China is raising concerns of another round of lockdowns. China’s stock market had a bad day yesterday.

Brazil’s President Bolsonaro announced Brazil has almost closed a deal to buy very low cost diesel fuel from Russia.

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