Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

NASTY Winter Storm Hits the US

NASTY Winter Storm Hits the US

FromGrain Markets and Other Stuff


NASTY Winter Storm Hits the US

FromGrain Markets and Other Stuff

ratings:
Length:
10 minutes
Released:
Jan 9, 2024
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.Winter Storm Finn is set to impact the Midwest and Great Lakes regions, bringing a mix of snow, strong winds, and rain. This storm is currently moving across the Plains and will reach its peak impact in the central and eastern states on Tuesday and Wednesday. Significant snow accumulations, potentially reaching 5 inches or more, are expected in several areas, including western Kansas, eastern Nebraska, Iowa, northern Missouri, northwest Illinois, southern Wisconsin, and northern Michigan. Some localized totals could even reach up to a foot of snow, accompanied by strong winds. ?️❄️?Despite facing challenges, Ukraine continues to export cargo through its alternative Black Sea corridor. This corridor was established in August as an alternative to the Black Sea grain deal after Russia exited. Ukraine has successfully shipped 15 million tons of cargo through this route, with agricultural goods accounting for 10 million tons of the total. However, Ukraine's grain exports have seen an 18% decline this season compared to the same period last year. Corn exports are down by 23%, while wheat exports have seen a more modest 1% decrease. ???Soybean yields in Mato Grosso, Brazil, are currently below normal due to hot and dry conditions. As of last Thursday, only 0.6% of Brazil's soybean crop had been harvested. These challenging weather conditions have impacted yields in Mato Grosso, and recent rains are now making the harvest difficult. While the crop was initially projected to reach 159 million tons by AgRural, this estimate may be revised in light of the adverse conditions. Additionally, 3.3% of the first corn crop in south-central Brazil had been harvested as of last Thursday. ??️?US soybean shipments faced a decline last week, with 674,749 metric tons (25 million bushels) inspected for export during the week ending January 4. This marked a 30% decrease compared to the previous week and a 54% decline compared to the same week last year. In contrast, corn shipments increased by 50% compared to the prior week, reaching 856,597 metric tons (34 million bushels). Wheat shipments also exceeded expectations, totaling 491,074 metric tons (18 million bushels) and increasing by 78% compared to the previous week and a substantial 134% compared to the same week last year. ???The US dollar, which had initially shown strength in the first days of the year, retreated for the second consecutive day. This pullback was driven by speculators betting against the dollar, anticipating that the Federal Reserve may start cutting interest rates this year. US Treasury yields also experienced a retreat. The focus now turns to key inflation data with the upcoming release of the December Consumer Price Index (CPI) and Producer Price Index (PPI) reports, which will provide insights into the economic landscape and potential Fed actions. ???
Released:
Jan 9, 2024
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.