Tidbits
South Korea bought 201,000 mts of corn: 136,000 mts is expected from unspecified sources and 65,000 mts from South America.
Japan bought 77,220 mts of milling wheat from a tender that we mentioned 2 days ago: 55,420 mts from the U.S. and 21,800 mts from Australia.
China's Sinograin has bought nearly 500,000 mts of U.S. soybeans this week for shipment in March and April, paying more for U.S. supplies for state reserves rather than buying cheaper Brazilian beans, two U.S. traders familiar with the deals said.
Farmland prices have declined for the seventh time in eight months, with the farmland index dropping to 41.3 from 44.4 in November, driven by elevated interest rates, higher input costs, and below breakeven grain prices. The farm equipment sales index fell to 14.3, the lowest since October 2016, down from 14.6 in November, marking 17 consecutive months below growth neutral due to high borrowing costs and weak commodity prices. Additionally, 21.7% of bankers reported raising credit standards in the past year. Rural banker confidence also decreased, with the December index falling to 37.5 from 46.4 in November, reflecting concerns over weak commodity prices and negative cash flow in agriculture.