Tidbits, Crush Numbers, Unemployment, Brazil’s Export, Fall Basis Video 8/3/25
- Wright team
- Aug 3
- 4 min read
Tidbits
The USDA reported the June 2025 crush numbers on Friday:
Soybeans: 197 million bushels, up 7.6% from a year ago, the market expected 196.6 million bushels;
Canola: 166,486 tons, down more than 15%;
Cottonseed: once refined oil production down 13%;
Corn: 498 million bushels in total and 448 million bushels for ethanol, both were down very slightly from a year ago.
The Labor Department’s statistics chief was fired Friday by Trump. The weaker-than-expected July jobs numbers and, more importantly, the previously reported 258,000 job gains that were removed from the previous two months showed incompetence. Investors voiced doubt about the reliability of future data. Friday’s correction of the weaker than reported employment numbers report for April and May, highlighted the debate among Fed governors about whether the Fed should have cut interest rates last Wednesday.
Meanwhile, the unemployment rate in Russia was unchanged from the previous month at 2.2% in June, the lowest on record, and below market expectations of 2.3%. All those sanctions on Russia the past three and half years for the purpose of punishing Russia and now Russia has its lowest unemployment rate ever? Hard times make people work smarter and harder, while some are on the battlefields and some have left the country due to the war, and that is what is happening in Russia.
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