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Tidbits, Export Sales, Markets & Rain Days Update 1/6/24

CHS summarized some of the world’s problems: 

"There is an abundance of drama around the globe to keep every market stressed and off balance. Escalated fighting in the Middle East, Russia fires more missiles at Ukraine, Ukraine shoots down Russian drones, North Korea fires off artillery rounds near a South Korean border and South Korea pushes back, China’s flying spy balloons over Taiwan…"  

 

What could go wrong to cause a hitch in the world food change? After all, Brazil’s corn and soybean crops have shrunk every week for the past three months until maybe this week. Australia and Argentina are finishing up the wheat harvest of disappointing wheat crops. 

 

China said its 2023 wheat crop was the worst in maybe 100 years. The market thinks there is nothing to worry about.

 

Look at the US drought monitor as of 2 January:

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