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Tidbits, Brazilian Crops, Trade Routes Crisis 2/7/24

Highlights


Thursday's USDA reports will most likely be a non-event. We do not recommend any market moves before the report.

 

China's stock market indexes made 5-year lows last week. The government and the Bank of China responded with massive injections of easy money, restrictions on short selling, and some regulatory changes. Yesterday, China’s two major stock indexes jumped more than 3% for their biggest gains in almost two years.

 

AgRural reported Brazil had harvested 16% of its soybean crop as of last Thursday, up 5% from the previous week. The hot weather and little rain, especially in the south, has producers stressed in Rio Grande do Sul, Santa Catarina and parts of Parana and Mato Grosso do Sul. Too much rain in Mato Grosso, Goias, and Tocantins is slowing harvest and some major quality problems

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