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China Buys MORE Wheat - Will "The Funds" Run for Cover??

China Buys MORE Wheat - Will "The Funds" Run for Cover??

FromGrain Markets and Other Stuff


China Buys MORE Wheat - Will "The Funds" Run for Cover??

FromGrain Markets and Other Stuff

ratings:
Length:
11 minutes
Released:
Dec 5, 2023
Format:
Podcast episode

Description

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyGoogleTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.0:00 Intro + Big Wheat Sale to China3:11 Brazil Crop Update5:50 Soybean Shipments Decline7:37 Canada Crop Update8:40 Gold Rallies to All-Time High?? Trade Highlights: SRW Wheat Sale to China, Brazilian Planting Pace, and Gold's Record Surge ??? SRW Wheat Flash Sale to China:USDA reports a substantial flash sale of 440,000 metric tons (16 million bushels) of US soft red winter wheat to China for delivery in the current marketing year. This marks the largest daily SRW sale to China in recent years, with a total of 951,000 metric tons (35 million bushels) since August.? Brazilian Soybean Planting Progress:AgRural notes that Brazilian soybean planting is behind last year's pace, reaching 85% completion as of the latest update. While southern Brazil shows notable progress, northern regions grapple with hot and dry conditions, hindering planting. AgRural adjusts its soybean crop projection to 159.1 million tons, down from the previous estimate of 163.5 million tons.? US Soybean Shipments Decline:US soybean shipments for the week ending November 30 dropped to 1.1 million metric tons (41 million bushels), a -30% change compared to the previous week and a 47% decrease compared to the same week last year. In contrast, corn shipments surged by 183% to 1.2 million metric tons (46 million bushels). Wheat shipments were poor at 187,955 metric tons (7 million bushels).? Canadian Crop Updates:Statistics Canada releases updated crop estimates, revealing better-than-expected Canadian wheat and canola crops due to late-summer rainfall. All-wheat production is forecasted at 32 million tons, with spring wheat harvesting at 24.8 million tons (up 10% from the previous estimate) and hard red winter wheat at 4 million tons.? Gold Hits All-Time High:Gold reaches a new all-time high at $2,135.39 per ounce, surging 3% in response to recent Fed comments, indicating potential rate cuts. The precious metal's rally since October, up 14%, is attributed to decreasing Treasury yields and the dollar as expectations of US rate cuts rise.? Stay tuned for more updates on global trade dynamics! #TradeNews #BrazilianSoybeans #WheatExports #GoldPrices ??
Released:
Dec 5, 2023
Format:
Podcast episode

Titles in the series (100)

Joe Vaclavik discusses the grain markets, the business of farming, news related to agriculture, and a variety of other topics.