Mother nature reminds folks of who’s in charge with the weather forecast
USMCA is official today
More perspective of yesterday’s report.
Shortened trade week with markets closing at noon on Thursday
Some heave short positions as you compare 2019->2020
Demand from China for corn & soybeans
Hog disease that has popped up on the news circuit
China blocking more countries from shipping meat
Name change for INTL FC Stone. China & the growing corn deficit, Army worms-is that a concern for China. Where are we at for Phase One with China…a lot of opposite information. Progression of the winter wheat harvest. How are drought areas dealing with harvest? Early Russian harvest is better then expected. Bayer has a deal with Round-Up & dicamba. Hogs & Pigs report out on Thursday. Update on African Swine Fever
Non threatening weather, crop progress report-has some questioning percentage.
Is the issue with China a trade barrier or more of a COVID issue
Livestock…China & Tyson Foods will set a stage for other proteins.
Cold Storage Report. Hogs & Pigs report out on Thursday.
China Sunday suspended poultry exports from an Arkansas Tyson Food’s processing plant where workers tested positive for COVID-19.
China’s General Administration of Customs announced the suspension after Tyson Foods confirmed a cluster of COVID-19 cases at its facility in Springdale, Arkansas.
A Tyson spokesperson told Reuters the company is investigating the matter, adding, “It is important to note that the World Health Organization, the Centers for Disease Control and Prevention, USDA and the U.S. Food and Drug Administration agree that there is no evidence to support transmission of COVID-19 associated with food.”
China also halted exports from a pork processing facility in Germany following an outbreak of COVID-19 at the plant. China has stepped up food inspections for the novel coronavirus in recent weeks. Reuters says Beijing began testing meat, seafood and fresh produce for the coronavirus last week, and some ports were opening all containers of meat to carry out coronavirus tests.
Congressman Jeff Fortenberry made a stop at the West Point Livestock Auction on Thursday morning. Since a livestock auction barn is an integral part of the beef supply chain and price discovery, Fortenberry says he supports the current U-S-D-A investigation into potential market manipulation…
The delicate nature of trade with China was a topic of discussion. The Representative says since trade is so volatile right now, the 21st century farmer can’t rely so heavily on exports….
Fortenberry calls for a reset of the trade relationship between the world’s two largest economies, aligning our systems so China is not cheating and lying to the United States.
Fortenberry also complimented Cuming County and the West Point area. He says the people are hard-working and willing to reinvest in their community.
Corn & Beans finish the week to the positive. Ethanol market remains stable on the week. Wheat has seen the struggles this week. Outside market influences continue to keep hold of the trade. China has our emotions on a string. Boxed beef drops…needs to, to be able to move product. Normally we are talking grilling, a result of boxed beef prices. June hog contract sets the tone for the trade. Export side…China purchasing more hogs.
How does the corn and soybean markets look to you this time?
Are the funds playing much of an impact in the corn and soybean markets at this time? How is the demand for corn in the ethanol industry looking? What does feed demand look like to you?
How are corn exports looking? Why is China buying soybeans from Brazil when our soybeans are cheaper? Do you think we have seen a bottom in the corn market? If you have old crop and new crop corn, would you sell here?
No news was good news from the weekend. No trade issues popping up. Some shorts in the market & not a lot of willing sellers. Scattered rain showers will slow some but welcome rain for others. Some solid weekly exports for the corn but soft for the soybeans. Ethanol…could we be getting back to a new norm with summer driving & ethanol exports could be the wild card? Easier to buy then it was to sell on the livestock. How are numbers from the COF report? Slaughter numbers moving forward. Sam talks about the reason for higher hogs today.