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Tidbits, Export Inspections, Markets & Rain Days Update 4/18/23

Highlights


Early today, China released its first quarter Gross Domestic Product (GDP). It was 4.5% better than a year ago. The market expected a 4.0% growth for the first quarter and expects 5.3% better GDP in 2023 than 2022. We expect their 2023 growth will be 6+% for the year. Being a major consumer of corn, wheat, beans, and crude oil, the Chinese economy is very important to you.

Charles Schwab shares closed 3.9% higher yesterday on better than expected first quarter earnings.

Yesterday’s National Weather Service’s (NWS) 8 to 14 day forecast has much below normal temperatures for the Eastern two-thirds of the Corn Belt. That will take us to the first day of May.

Grainstats.com improves its website every year. Their detailed translation of the USDA Crop Progress Report is much easier to read than the USDA “dreary” report. You can pick the commodities you want to see the details and leave the rest alone. You will like it. Go to grainstats.com

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