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Tidbits, May S&D, Markets & Rain Days Update 5/13/23

Highlights


The USDA numbers reported yesterday for the 2023 harvested crops around the world include record large production in just about every country. The USDA is saying the weather will be just perfect around the world this growing season, everybody is getting all the fertilizer they want, the Ukraine corridor deal will remain open, and demand is just terrible because people and livestock are going to cut their consumption by 12% across the board.

Now, back to real life.

New news is the Ukraine grain export corridor deal has not been extended yet. Russia insists economic sanctions must be lifted. That is very unlikely to happen this month. Russia is being pressured by their buddy, China, to make the extension because China buys most of Ukraine’s corn and wheat.


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