Highlights
At 11 AM Central Time today, the USDA will issue the following reports:
Today is the last day of the soybean meal and soy oil marketing year. It is also the last day of the US government fiscal year. Government procurement staffers have been working overtime for three weeks to spend the remaining balance of funds allotted to their department before midnight tonight, when they have to give back what they don't spend and see reduced budgets for the next fiscal year.
The hurricane in Florida has halted phosphorus mining in Bone Valley, the largest phosphorus mine in the US. Hopefully it will be back in operation next week. In such cases, the delay in restarting operations is not so much damage to the mining equipment, but damage to the employees’ homes, roads and a lack of electricity may take weeks to resolve enough to return to work.