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Tidbits, Crude Oil, Hurricane 10/9/24

Highlights


The river gauge at Memphis will restrict barge drafts by October 13th if no rain comes this week. Weather Monday night poured down rain in Western Pennsylvania.

 

Yesterday morning, the USDA announced the sale of 166,000 mts of old crop (2024) soybeans to China.  

 

Dr. Michael Cordonnier left his U.S. corn and soybean numbers unchanged. He has corn at 15.09 billion bushels with a yield forecast of 182.5 bushels (USDA 15.186 & 183.6) and his soybean numbers at 4.44 billion bushels, with a yield of 51.5 bushels (USDA 4.586 & 53.2). He predicts the Argentine corn crop will be 48.0 million mts (USDA 51) with planted areas down about 15% and the Argentine soybean crop at 57.0 million mts (USDA 51) with planted area up 6.6%.  

 

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