Highlights
Benson Quinn reported yesterday afternoon:
Corn usage the first two months of this marketing year is a 6 year high.
Soybean oil stocks are at a 10-year low and crush net profit margins are up 7¢ to just over $1.10 per bushel.
Russian wheat conditions are the worst in 10 years, rated 37% poor, as the crop enters mid-season and heads into winter exposure.
The U.S. Labor department reported yesterday there were 1.11 job openings for every unemployed person in the U.S. in October, up from 1.08 in September. This ratio, which peaked at 2.03 in early 2022, is now below the 1.2 that prevailed before the pandemic.
South Korea buys a lot of U.S. agriculture products.
South Korean President Yoon Suk Yeol declared martial law late Tuesday because his “political opponents have paralyzed government while sympathizing with North Korea.”