Predictions for beans were right on the screws. Corn....not so much.
Yeah, National corn yield of 181.3 was higher than the highest guess by a wide margin.
August weather for filling was outstanding, so you actually can make a case for those higher yields. This is record crop production of course.
Beans may be sell the rumor buy the fact action too. The USDA may have just confirmed what everybody has been trading for months now.
It will be hard to keep beans going up ahead of the biggest harvest in history.
So who is going to buy this record production.
I've got some sold for 2020 delivery. I wish I would have sold more
My thoughts exactly. Can you think of a rational reason to long beans other than seasonal's? I certainly can't.
talks of new china negotiations...bloomberg
Yea, I think Jim Cramer said something about it too. Maybe.....probably not. Doesn't China tell us that they won't be intimidated? That it won't hurt their economy?
I keep reading about this Chinese Silk Road thing. I have no understanding what this means. Any how, the Chinese seem to think trade with Europe and Russia is their ace in the hole
They claim [and I have no info about this] that Europe and Russia trade exceeds trade with the USA. China seems to have a lot of faith in this Silk Road thing. China doesn't seem to think reduced trade with the USA will have any large effect on their economy. Trump is still asking his staff for increased "tit for tat" tariffs which he thinks will win the day. If nothing else, it will certainly reduce the drain of USD going to China. However, the other side of the coin is at what cost
12 billion certainly won't do it. Long term lost markets might have repercussions for yrs to come.
I am convinced the evidence shows that china is determined to replace USA soybeans with new land to grow soybeans. Their working model is to have Chinese partners in everything and if my info is correct, this includes new land, to grow food products in other countries. A person can google" abandoned agriculture land in Russia" and find Chinese partnership with Russia. It took me a bit of digging as Goggle sent me off in all directions but it is there if a person is determined to find the info.
Also of note:
China has been working on a GMO soybean which they will allow to be grown in SA and imported back to China. I don't really know all the details as I read it some time ago. I would not presume to know all the details.
Maybe instead of building empty cities, they should have been out clearing acreage.