Talked to a big farmer this morning (186k acres). He is going to put his corn in bags and hold it till Feb next year. Many farmers in Brz are doing the same.
What happens if Black Sea grain corridor deal is not extended?
++++++++++
LONDON, July 11 (Reuters) - A deal allowing Ukraine to export grain via the Black Sea expires on July 17 and with Moscow saying it sees no grounds for an extension there are fears it may collapse.
Ukraine is a major producer of grains and oilseeds and the interruption to its exports at the outbreak of war pushed global food prices to record highs. The current deal, agreed in July 2022 some five months after the war started, helped to bring down prices and ease a global food crisis.
Ukraine grain has also played a direct role with 725,200 tonnes or 2.2% of the supplies shipped through the corridor used by the United Nations World Food Programme (WFP) as aid to countries such as Ethiopia, Somalia and Yemen.
Prices for some staple foods would likely rise but the situation is better than in the months after the war started due to improved supplies of grain from other producers such as Russia and Brazil.
China didn’t sell any of the 311,134MT of #soybeans offered in the 4th auction of imported beans held today. The imported beans offered were from 2021 & sourced from 14 warehouses with avg price of $17.27/bu. Crushing plants inventory remain elevated with stocks around 5.9MMT as of Jul 8th, +15% v previous wk. Since the 1st auction held Jun 20th #China has failed to sell any volume of imported soybeans totaling 1.244MMT. Next auction Jul 18th.
Pretty exciting to see the next big thing in soybeans from @Bayer4CropsUS this morning! We’re still a couple of years from launch, but these beans will give farmers multiple weed control options: Roundup Dicamba Glufosinate 2,4-D Mesotrione
There's ideas China's soy demand could slow in the coming months if its hog herds shrink. Chinese hog producers have recently been losing money.
