top of page
If You Haven't, Try Our Daily Grain Market Reports FREE for 30 Days!

Tidbits, Wheat, Coal, Markets & Rain Days Update 12/11/23

Highlights


Dan Basse, President and Founder of AgResource Company, was recently interviewed by Micheal King of WorldGrain.com. Here are excerpts of his report:

 

China has bought record amounts of soybeans and right now is buying record amounts of corn. I am not quite sure what is behind it. Some of us believe it is the westernization of China’s hog herd. As everything goes under a black light to prevent ASF, maybe their diets have changed such that they need more soy meal and more corn. But China has been on a buying binge out of South America for both corn and soybeans.

 

We look at China maybe in the year ahead taking 28 million mts of corn versus USDA’s 23 million mts. On soybeans, we think China will take in the new crop year something like 105 million or 108 million mts.

 

I still see a tremendously bullish story for vegetable oils, principally soy and canola oil, in North America, but then the problem becomes as these crush facilities are coming online starting in the middle of 2024 and continuing thereafter, we’re going to have all this excessive amount of soy meal and what that means for rations of livestock feeders will be very important down the road.

Want to read more?

Subscribe to wrightonthemarket.com to keep reading this exclusive post.

Opmerkingen

Opmerkingen zijn niet geladen
Het lijkt erop dat er een technisch probleem is opgetreden. Probeer nogmaals verbinding te maken of de pagina te vernieuwen.
bottom of page