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Tidbits, China Imports, Export Inspections, Markets & Rain Days Update 12/12/23

Highlights


Early this morning, a land-based cruise missile launched from Houthi-controlled Yemen struck a commercial tanker vessel 60 nautical miles north of Bab al-Mandab Strait (Red Sea/Suez Canal area) causing a fire and damage but no casualties.

 

Yesterday’s mid-day weather model runs took quite a bit of the rain for Northern and Central Brazil out of the first and, to a lesser extent, the second week of the forecast and moved the rain to the third week out.    

Yesterday’s rumors included that China has bought all the soft red winter wheat it needs.

 

China’s Ag Ministry reported yesterday morning their 2023 corn crop was a record large 288.8 mil mts (11.37 billion bushels), up 4% on the year (USDA 277 mil mts). Last Friday, the AG Ministry left China’s corn import projections unchanged at 17.5 mil mt (USDA 23). Those two news items were the reason soft red winter wheat and corn were weak yesterday plus wheat was overbought.

 

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