https://www.ams.usda.gov/mnreports/wa_gr101.txt
Corn and wheat increased from a very low number last week but still not great.
Soybeans were huge!
USDA confirms the sale of 130,000 tonnes of U.S. #soybeans to #Egypt for delivery in 2019/20.
Bloomberg reporting that #China seeks flexibility on Phase 1 trade targets amid the coronavirus outbreak. The deal says the two sides can consult “in the event that a natural disaster or other unforeseeable event” delays either side from complying.
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It's not clear yet whether #China has formally requested the consultation. But this puts even more uncertainty around China's ability or intention to meet the target.
"Chinese officials are hoping the U.S. will agree to some flexibility on pledges in their phase-one trade deal, people familiar with the situation said, as Beijing tries to contain a health crisis that threatens to slow domestic growth with repercussions around the world.
The agreement sealed Jan. 15 is supposed to take effect in mid-February. It has a clause that states the U.S. and China will consult “in the event that a natural disaster or other unforeseeable event” delays either from complying with the agreement. It’s unclear whether China has formally requested such a consultation yet, but the people familiar with the matter said the plan is to ask for it at some point."
metmike:This is an example of how the news is dominatimg trading right now and with tremendous uncertainty over the Coronovirus, markets will often trade fear of the worst. ............until they are more confident that the worst case scenario is not going to happen............or at least that its not going to be as bad as some of the more alarming, speculative predictions.
I think that takes a real set to have the nerve to ask for flexibility. Number 1 we cannot trust them to accurately report just how bad the virus is or what they are doing to fight it. Number 2 they have bent us over for years cheating and stealing. At this point I would say, do what you promised and "flexibililty" may come later.
