The CFTC did not issue its COT report Friday afternoon due to the holiday last week. The COT will be released Monday afternoon. We will issue our Weekly Basis Tuesday.
Tidbits
Correction: Yesterday’s report included North Carolina was one of the states with too much rain causing crop problems. NC is having serious crop problems, but not because of too much rain. Dry and windy with hot weather is doing the crops harm in North Carolina.
Nova Mutum is a municipality in Brazil’s state of Mato Grosso (MT). It was colonized in 1966. Experiments with rice, corn and soybeans were undertaken in 1974 in an effort to create opportunities for new pioneers. Much of its economy is focused on agriculture; Nova Mutum is the second-largest MT grain producer and one of the largest in Brazil, with an area of 410,000 hectares (1,000,000 acres) of soybeans. The municipality is the third largest soybean exporter in MT and 41st largest in Brazil. Nearly all of its soybean acres get planted to safrinha corn as a second crop ever since Asian Leaf Rust became a problem in 2001.