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Tidbits, Ukrainian Export, Markets & Rain Days Update 8/16/23

Thanks to Bill for letting us know Minnesota is not east, but west of Wisconsin. Bill says he always pays close attention to what we send him and, indeed, he does.

For those of you with old crop on basis contracts, we need to do our best to pick the high between now and August 30th, cash out the basis contracts and buy call options or futures. With the Pro Farmer Tour next week, we certainly recommend you wait until the market recovers from this grossly oversold condition before some or the final Pro Farmer numbers are known.

 

Highlights


Several waves of drone attacks on the small barge loading ports on the Danube this night. Ukraine hopes to export 30% of its normal tonnage through these loading ports by using trains and trucks to deliver the grain. Russia has attacked these ports multiple times in the past two weeks.

Last evening a rumor surfaced that China purchased 37 shipments of soybeans last week; 12 ships from Brazil, 3 ships from Argentina, 8 ships from Pacific Northwest (will firm the basis in the Dakota’s), 12 ships from the Gulf, & 2 ships from Canada.

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