How wet has it really been in China for corn harvest?
https://ipad.fas.usda.gov/rssiws/al/crop_production_maps/China/China_Corn.jpg
The 30 day rainfall vs normal DOES NOT SHOW ABOVE AVERAGE RAIN WHERE THEY GROWN CORN!
The 90 day map shows that it was a bit wet in the southwestern areas and dry in the eastern areas. Doesn't look like that should have been a major factor for corn harvest.
With regards to very wet corn that needs alot of drying........yeah, I could see that after the growing season they had too that slowed down maturity and didn't leave much good drying weather in the field left after the growing season.
I may have posted this else where but farmers in France and other European countries were being asked to leave their corn crop and other grains in the field as long as possible to allow for weather to dry the crop, naturally, as much as possible
High energy prices and shortages of energy was the reason for leaving the crop in the field.
Maybe chinese farmers are also under pressure to leave the corn crop in the field, and then wet weather interfered with a later than usual corn harvest
Just a thought but some thing caused corn prices, in China, to increase, so my guess is as good as any, I suppose
CBOT soybean meal is off to the races again on Monday, trading up more than 3% as of mid-session. Dec futures are up more than 8% since Thursday and up more than 20% from the Oct. 13 low.
beans now 80 to 90 higher and 40 thouasand new longs