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Tidbits, Q&A: Marketing Actions & Weather Rally, Markets & Rain Days Update 6/19/23

Highlights


The Tech Guy did a great job updating the weather situation with his mailing to his blog followers last evening. If you missed it, read it at:

The Bank of China has been on an easy money policy for months to stimulate the economy. Tomorrow morning their time (10 PM Eastern Time today), the interest rate is expected to be reduced by 10 basis points (one tenth of one percent). The easier the money policy is in China, the more of everything they will buy. China imported a record large 16 million mt of soybeans in May. They did not buy all those beans to feed straight soybean meal to their livestock. There is corn coming behind the beans.

 

Tidbits


Baker Hughes reports the USA had 687 gas and oil rigs drilling last week, down 8 from the previous week and down 53 from a year ago. Canada has 159 rigs drilling, 23 more than last week and 3 more than a year ago.

 

Q&A: Marketing Actions and Weather Rally


Question received Saturday June 17:

"Our basis in SE SD has dropped 85 cents since the beginning of the week! Any thoughts on what to do now! Should I lock in my old crop or wait to see if the basis begins to rise again? Thanks, Jon"

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