U.S. #corn production comes in lower than expected but #soybeans higher, despite the decline in soy harvested acres following the resurvey of Dakotas/Minn. Soy yield is expected to tie 2016's record.
#illini coach Bret Bielema on Monday said the team added South Dakota transfer WR Kody Case to the roster this offseason.
Some of his background, Bielema's thoughts on him and how he fits: https://t.co/BQh1tgMtF2
The USDA reported corn, soybean, and wheat carryout numbers in line with trade expectations. Brazil's corn and soybean production was reduced, but came in just over the average trade guesses at 114 and 134 respectively.
Numerous @GCMSUnit5 student-athletes were (and continue to be) among those at the forefront of cleanup for last week's flooding: "They busted their hump and did the right thing" https://t.co/WTu2QUEPpP #NGMedia
Lot's of discussion yesterday on the surprisingly light U.S. acreage intentions. This is total 2021 acres versus March 2020 intentions (I posted these numbers versus 2020 final yesterday). Most states reported fewer planted acres for 2021 than they did for 2020.
USDA increased #Brazil's 19/20 #corn crop by 1 mmt and increased 20/21 (the one that isn't yet planted) by 3 mmt. They kept 19/20 #soybeans at 126 mmt, but increased 20/21 by 2 mmt and added 0.7 mmt to 18/19.
No changes in #Argentina.
Be careful in those bins, folks. I received word we had a young farmer with a few young children get engulfed and pass away today. This crop is going to cause problems well beyond fall. 😔
If you work in or around grain bins, save and share this video - funded by the National Grain and Feed Foundation - that illustrates the connection between grain quality and safety: https://t.co/lsLCns6y0q #safety#StandUp4GrainSafety
Forty-percent of the products we grow, produce or manufacture in Illinois go to Canada or Mexico. #USMCA will level the playing field for our producers and strengthen a vital trade relationship.
https://t.co/wBjUUMf0QR
The one universal law of grain marketing:
You Can’t Have it All
Corollary 1:
No protection without cost or surrender of opportunity
Corollary 2:
No premium without risk or obligation
Corollary 3:
No waiting for opportunity without cost, risk, or both
Bottom line is, a trade deal might not boost U.S. exports as much as is expected, especially with ASF concerns & growing supplies in Brazil. USA wouldn't lose all the "other" buyers, but that biz would likely decline. Global (& #China) demand growth is key at the end of the day.
And again, the quotas are something for which the U.S. side has been strongly pushing. #China has been asking that both sides remove tariffs, and it recently said it prefers to buy based on market conditions. Thus, the impending trade deal is at a standstill.
My latest commentary: A trade deal w/ #China is of course ideal for U.S. ag, but promised purchase quotas are dangerous. For #soybeans, other buyers may turn more to #Brazil if prices there are cheaper - a likely outcome if BR loses share to China.
https://t.co/KduVIESwsy