watch this 542 March area....looks like consolidation if it holds if not a quick crash to 460 area then recover
new sales of 2,108mmt of corn to china
weekly total to china 230mil bushels
This is mind boggling mcfarm!!!
I can't help but wonder if all this buying is to try and get on Biden's good side.
Jim, on his good side? Had you already forgotten about the many millions that found there way into the Biden crime family bank account? Not that there is one tiny thing wrong with that. Ha
corn now up 13....looks good to go
On the one side of the coin china buys grain from the USA is quantities not seen in many yrs
On the other side of the coin China rattles sabres around the South Seas and Taiwan
Does this make you think
Or do you even pay any attention about what happens 1000's of miles from home
Maybe you think Biden will have a better relationship with china and russia, which you hope does happen, if you do pay any attention to such things
Or is any of this worth the time of day to think about
By the way mcfarm
Our basis dropped 30 cents in one day this past week
basis is so strong at St Louis lines re 4 to 5 hours. Hate to see some guys get gored by poor basis but somebody has bins full and less demand apparently
The price of corn in China is almost double ours right now.
That's the main driving item.
Our price is cheap, compared to where the price is in China. It's a global economy.
Why is the price so high in China right now?
Their crop was pummeled by 3 different typhoons late in the growing season last year:
Three typhoons buffeted China’s main corn belt of the provinces of Heilongjiang, Jilin, Liaoning and the Inner Mongolia region in late August and early September, flattening plants and flooding fields just as the corn crop reached maturity.
“Flattened crops are not equal to no harvest, and you might recover some output if the crops get handled properly later,” said Meng Jinhui, senior analyst with Shengda Futures.
metmike:
These are the 3 Typhoons that hit the high production green areas above in China in a very short period late last growing season and did tremendous damage to their corn crop. Soils were already saturated from the first 2, so the winds from the 3rd one left plants more vulnerable to being uprooted:
https://en.wikipedia.org/wiki/2020_Pacific_typhoon_season
Main article: Typhoon Bavi (2020)
| Typhoon (JMA) | |
| Category 3 typhoon (SSHWS) | |
 | |
| Duration | August 20 – August 27 |
|---|---|
| Peak intensity | 155 km/h (100 mph) (10-min) 950 hPa (mbar) |
| Typhoon (JMA) | |
| Category 4 typhoon (SSHWS) | |
 | |
| Duration | August 27 – September 3 |
|---|---|
| Peak intensity | 175 km/h (110 mph) (10-min) 935 hPa (mbar) |
Main article: Typhoon Maysak (2020)
| Typhoon (JMA) | |
| Category 4 super typhoon (SSHWS) | |
 | |
| Duration | August 30 – September 7 |
|---|---|
| Peak intensity | 195 km/h (120 mph) (10-min) 910 hPa (mbar) |
Main article: Typhoon Haishen (2020)
This is a discussion about how high winds late in the growing season can damage corn.
https://www.goldenharvestseeds.com/agronomy/articles/late-season-wind-damage-impacts-corn-yield
Previous discussion(s) on this:
exports
12 responses |
Started by mcfarm - Jan. 28, 2021, 9:47 a.m.
https://www.marketforum.com/forum/topic/64858/
Why is china buying large amounts of grain
1 response |
Started by wglassfo - Jan. 29, 2021, 5:30 p.m.
https://www.marketforum.com/forum/topic/64950/
For convenience for readers/posters, in the next several days, please use this or the other threads to make posts on this same topic vs starting a 4th thread about the same thing right away.
Thanks
No, I hadn't forgotten mcfarm. But Joe has not been kind to China in the press lately, so who knows.
Export inspections this morning: