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Tidbits, Markets & Rain Days Update 9/20/23


Recent data shows China’s economy is finding its footing. This afternoon, the Fed will reveal how it thinks the US economy is doing.

West of Indianapolis, yesterday Brian cut 2.6 maturity beans which were planted April 20th at 12 to 13% moisture and yield around 70 bushels.

Russian farmers are facing diesel fuel doubling in some areas in recent weeks. Farm diesel was up 1.27% just yesterday. The main reason for the increase was the reduction in government subsidies to oil companies. Farmers will be planting winter wheat in a matter of days and the diesel supplies are very spotty in the winter wheat areas.

The latest 2023 crazy market twist is that the US government will probably shut down at midnight on September 30th, the end of the government’s fiscal year. If so, that means there probably will not be a Crop Production and S&D from USDA on October 12th. All markets hate uncertainty and uncertainty leads to more selling than buying.

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