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Highlights, Taiwan, Ukrainian Grain, Crush Numbers, Markets & Rain Days Update 8/3/22

Highlights


Nancy Pelosi’s plane arrived in Taiwan yesterday mid-morning just before beans tested their low for the day. The whole world was watching because China said they would retaliate militarily if she set foot in Taiwan. Apparently, the soybean and crude oil market were relieved her plane did not get blown out of the sky before its arrival as prices rallied after her plane landed, but then prices sunk back to near the lows of the day on the close. She has to get out of there alive and maybe, within a day or two, beans will trade more normal. Pelosi was scheduled to leave Taiwan at 3 AM Central Time today.

The first ship to leave Ukraine with a load of grain is scheduled to deliver corn to Lebanon. However, when the sun went down last evening, the ship anchored off Turkey’s capital city, Istanbul, which is on the north side of Turkey. Turkish officials said that there were some “technical problems” needed to be resolved. Ukraine is northeast of Turkey. Lebanon is south of Turkey. So, the world waits to see if the problems are mechanical, software, or some black market “magic”.

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