Highlights, Soybean Expansion, Markets & Rain Days Update 9/5/22
After Sunday’s 6 to 10 day and 8 to 14 day weather forecasts were issued, last evening 247Ag reduced their corn yield projection to 170 to 172 bushels (USDA 175.5) and soybeans to 50 bushels (USDA 51.7).
Yesterday, Russia suspended natural gas flow through the Nord Stream Gas Pipeline to Europe.
Twelve vessels with grain and food products left Ukrainian ports Sunday.
Germany's government approved a $65 billion give-away package to help relieve inflation pressures. It will be newly printed money, add to the national debt, increase the money supply without any products being produced and increase inflation. Argentina has been doing that for 40+ years. Their inflation is 60+% this year. The USA has been doing that heavily for two years and lightly since 1965 with implementation of the War on Poverty Act. By August of 1971, the annual US inflation rate reached 3% and the government instituted wage and price controls to curb "runaway inflation."
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