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Highlights, Markets & Rain Days Update 6/11/22

Highlights


After manufacturing moldboard plows the past 185 years, John Deere announced it will build no more moldboard plows. Plows with steel mold boards instead of wood or cast iron is what made a blacksmith named John Deere rich.

Monday, June 20th is a holiday; no ag commodity trading.

USDA made no changes to South America’s corn crop, but increased soybean production in both Argentina and Brazil.

Indonesia announced it would fully open palm oil exports. China trimmed its edible oil import estimate by 13% to 7.43 million mt. Vegetable oils around the world were lower yesterday.

If you watched our rain day numbers for Mato Grosso, you know it started raining there about a week ago after 50 days of no rain and the driest April in 17 years. Kory Melby said yesterday:

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