🚨 BREAKING: Trump SBA Chief Kelly Loeffler just CAUGHT $1.1 BILLION in suspected PPP fraud, FREEZES 27,000 borrowers in Ohio ALONE
$9 BILLION caught in CA, MN and ME 🤯
This is huge!
"The SBA referred 560,000 borrowers to the DOJ and Treasury. That's over half a million borrowers to start collections and prosecutions for $22 billion in suspected PPP fraud."
"We've announced suspensions for 140,000 borrowers across California, Minnesota, and Maine totaling $9 billion."
"And today, I'm here to announce suspensions for over 27,000 Ohio borrowers tied to $1.1 billion in suspected PPP fraud."
AAG MCDONALD: "The war against fraud has come to Ohio, and we plan to leave no doubt as to who will win. That will be the team behind me, federal and state partners who have come together as one to battle the fraud crisis that has crippled our taxpayer-funded programs and robbed the American purse for too long." @RapidResponse47
🇧🇷Brazil exported 14.8 million metric tons (545 mbu) of soybeans in May, up 5% from a year ago, with 71% bound for China.
Brazil's Jan-May shipments to China totaled 38 mmt (1.4 bbu), more soybeans than the U.S. has ever shipped to China in an entire marketing year.
China egg price hits a 10-year high for this time of year at the start of June, DCE futures have been rising for eight consecutive weeks https://t.co/yjSMcZps2L
🇺🇸Initial health ratings for U.S. corn and soybeans landed below market expectations.
🌽Corn - 67% good/excellent, lowest starting score since 2019. Iowa leads at 82% g/e.
🌱Soybeans - 66% good/excellent, lowest since 2023. Ohio ranks last among major states at 46% g/e.
2 Corinthians 12:9 NIV
[9] But he said to me, “My grace is sufficient for you, for my power is made perfect in weakness.” Therefore I will boast all the more gladly about my weaknesses, so that Christ’s power may rest on me.
https://t.co/91h40mw6IO
"The Iranians will control the Strait of Hormuz for the foreseeable future," says Fmr. White House Senior Advisor @amoshochstein. "It doesn't even matter what the deal says, and everybody in the region believes that." https://t.co/K4HdXpOWVq
I am in too bad a mood after this week for cheeky comments. Here are price comparisons since the closure of the Strait of Hormuz:
NOLA Urea - +11%
NOLA UAN - +51%
Midwest NH3 - +26%
NOLA DAP - +28%
NOLA Potash - +15%
Dec '26 corn - +5%
Nov '26 beans - +5%
July '26 wheat - +8%
@GoddessofGrain@Iowacrops Back when I started it was mostly "earn the opportunity" with the rare, we will pay you to be hear--roles have certainly reversed. Anymore, if I don't learn something or get stretched in some way, I rarely go back...
@advocate_always@clintwfischer A "typical" crop-share rental arrangement could likely prove more equitable from a rent received over a long term perspective...
@FarmActionUS $1,500/ 15hr day = $100/hr for 2 tractors = $50/hr for 1 tractor. I am not sure that is high enough to be accurate if you include all costs... 🤔🤔
Rural banks around here are getting out of ag lending, one by one, and that should worry you more than any price on the board.
When the people who know your balance sheets better than anyone stop betting on you, that's a verdict.
Walmart CFO: Number of Gas Gallons Customers Buy at Walmart Stations Fell Below 10 For First Time Since 2022
Walmart CFO: Decline in Gas Buying Is Sign of Financial Stress
🌽🇧🇷 Brazil Safrinha Corn Dry Alarm 🚨
📉 Past 14 days:
🔸Corn belt at 20–60% of normal rain
🗺️ Next 7 days (ECMWF):
🔸MT, GO, MS, MG mostly dry
📊 GFS 15-day ens:
🔸68% of normal, no recovery
🌎 71% of Brazil's corn = MT + PR + GO + MS all in the dry zone
🟥 MS already booking -20% production
🟥 Goiás late planted & exposed
🟡 Mato Grosso mostly safe (early corn past pollination)
4–6 MMT at risk... 138 MMT consensus looks like a ceiling, not a midpoint, IMO.
Could be...
🐂 Bullish CBOT corn / Brazil FOB basis 🚢
⏰ Watch: June CONAB report + frost risk.
#Brazil 🇧🇷 #Corn 🌽
BREAKING: US total crude inventories fell last week ~17.8 million barrels (that's commercial and SPR stocks combined). On that basis, it's the largest weekly fall since data is available starting in 1982.