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Tidbits, Weather, PMI, Export Inspections, Markets & Rain Days Update 5/31/23

"Good afternoon Roger,

You haven't said much about USA weather lately. Here in southeast Iowa it feels more like June 30th than May 30th. No humidity at all this past Memorial Day weekend which is so odd for us. It's super dry here and hasn't rained in two weeks and nothing at all on the extended forecast. Yards are even starting to go dormant and turn brown already. Never seen it so dry this time of the year. The early crops look good but a lot of population issues in corn and beans locally are to dryness and one 2.5 inch pounding rain crusting everything over and not raining since. It's not looking good around here at all right now. It will be interesting to see how this turns out. Beans planted last week to get guys finished up around here was probably a waste because they won't come up until we get some rain."

Thank you, Brandon!

 


Highlights


The US first corn condition rating for 2023 is 69% good or excellent compared to 73% a year ago. For all the Weekly USDA Crop Progress Information, go to: grainstats.com

Note: Purchasing Managers’ Index (PMI) is the percent of money to be spent on supplies by businesses for the next month versus the previous month. A PMI of 50 means the same amount of money is expected to be spent. A PMI of more than 50 means more money will be spent because the business is increasing production.

Today’s release of China's Purchasing Managers’ Index (PMI) figures for May was expected yesterday to show another contraction in manufacturing activity. China’s April PMI was 49.20, which was way down from March’s 51.9 and February’s 52.3.

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