Tidbits
Yesterday morning, the USDA announced the sale of:
181,000 mts soft red winter wheat to China
117,300 mts soybeans to unknown
100,000 mts of soybean meal to unknown
Jason Britt is the President of Central States Commodities of Kansas City. He has appeared on Bloomberg TV, Barron's and the WSJ. His comment about USDA’s math on the soybean S&D:
"After going over the USDA numbers, what stands out to me is how they had to “massage” the soybean numbers to even keep carryout at pipeline supplies. I have final yield coming in at 49.1 putting us solidly under 200 mb. Beans need to move in short order to $13.50 to $14 to accommodate that number."
Mato Grosso is the state in Brazil that grows about a third of all of Brazil’s corn and beans. Tarso Veloso reports from Brazil about agriculture for Bloomberg. He reported yesterday: