Highlights
The BN and UP railroads are holding-up rail traffic at the US/Mexico border, which may have stopped all corn by rail to Mexico to halt illegal entry to the USA on freight trains. The railroads halted rail service to Mexico back in December due to illegal immigration. Who would have thought Biden’s policies on illegal entry to the USA would disrupt corn exports?
There are 163 million bushels of corn sold to Mexico yet to be shipped this marketing year. That is an average of 13.6 million bushels a week needs to be shipped.
Yesterday morning began with poor European PMI numbers, which were less than expected for Fance, Germany, and Great Britain.
Every day this past week, the 5-day rainfall forecast map centered heavy rains over the Upper Midwest. Yesterday’s weather runs continue the heavy rains over the same region. There were flash flood warnings yesterday morning for Southwestern Minnesota after 3-6" fell overnight with some 8" totals reported. Earlier in the week, there was a flash flood in Northern Minnesota.