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Tidbits, Export Sales, Markets & Rain Days Update 8/18/23

Highlights


Percent crop area in drought condition this week versus last week:

  • Corn 42% versus 49%.

  • Soybean 38% versus 43%

  • Spring wheat 54% versus 52%.

  • Winter wheat 43% versus 45%

Ag Resource Company Illinois and Iowa Crop Survey Video (less than USDA’s August yields): https://twitter.com/i/status/1692175523886301425

China Evergrande is one of the three largest property developers in China and it has been behind on its debt service payments for 17 months. Yesterday, China Evergrande filed for protection from creditors with the U.S. bankruptcy court in Manhattan by filing under Chapter 15 of the U.S. bankruptcy code. Non-U.S. companies use Chapter 15 to block creditors who want to file lawsuits or tie up assets in the United States.

A somewhat smaller property developer, Tianji Holdings, also filed a Chapter 15 petition on Thursday in Manhattan.

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