Tidbits
Yesterday, China announced more stimulus measures to try to reach a 2024 economic growth target of 5%. China added ~$284 billion equivalent in bonds and cut bank reserve requirement ratios by 50 basis points. The three-month interest rate was down to 1.5%, and their one-year interest rate is now at 2%. By comparison, the one-year interest rate here in the U.S. for government one year T-Bills is at 3.96%.
Yesterday morning, the USDA announced the sale of 20,000 mts of soybean oil to South Korea.
The Lower Mississippi is expected by October 5th to be deep enough to handle fully loaded barges. That is a huge plus as most of the U.S. corn and soybean exports are in the first five months of the marketing year, which began 1 September.