Higher food cost is a result of printing dollars. I think it’s called inflation. It’s also a result of spending money we don’t have on green energy. So yea I can see that.
If the rain is going to be above normal in Brazil i don't see how planting will accelerate. Here in the u.s when it rains there are delays. I often wonder how much information that comes out of south America is even true. I've never been there so I'm taking others word for it. Its very easy to blow smoke over a persons eyes in a situation like this
Soil/climate is different. Tropical climate with dry seasons. Also a sandier soil able to handle high rainfall rates. Central and northern Brazil get basically zero rain from June-Aug. They have to have rain to even begin planting. Then in Dec-Jan they get 10” of rain each month. Can’t compare agronomic practices of the US and central/north Brazil. Argentina is more comparable to the US.
Unknowns are a thing because it’s not countries themselves doing the buying/shipping. Think of it like elevators and if they had to declare where the grain they took in was going to get used. They would likely have a good idea where a large chunk is going but they also will always have bushels that are not committed somewhere. So importing companies buy value or buy for demand that normally comes. One of the biggest unknown destinations is the EU. With only a couple of ports to deliver to, grain gets delivered to say Rotterdam and then is delivered to what area needs them. So say a shipment (60kmt) heads to Europe. When it get there, Germany may have taken the last boat and the next need is Denmark. When the bushels were sold it was “unknown” where the final destination was. Corn unknown is much more likely to be someone besides China.
It appears "unknown destination" is a temporary term used for paperwork as the private seller is loading the ship or whatever. USDA wants info as fast as possible and the seller needs to load as fast as possible. So "they" could be a number of different buyers/countries. Like the NY stock market, the Chicago Commodities market is also fast and furious. "Ultimately before the product is shipped a destination has to be declared." Can't be shipping to sanctioned countries like Iran after all. There is no "unknown destination" for last years exports totals by country. I don't have X-cel on my comp. but I bet you would see in the monthly reports that there is no "unknown destination". Does it matter who the "unknown destination" for the "week" is as long as it adds to the end product sale? Emphasis in "week".
Beans are done and we're below average. Early corn is highly variable in the field, I expect the worst yields of my career. At least it's dry. 17 or 18% off the field.
Could you quickly mention what Canola futures did? You do mention what Gold and Crude Oil do, seems Canola is relevant if.you want to relate to Canadian Farmers.
When you consider the billions wasted to elect politicians and pay them I think they should be the first to go on a financial reset. Also, I don't agree fertilizer is a necessity in soybean ground. The difference in yield vs cost does not pencil out at these price levels. Spending 75.00 an acre to gain 50-65.00 in yield didn't make sense this past year.
@@ryanmarkey5012 I get it - yep you're exactly right. Misread on my part. I definitely agree if your soils are right and you're keeping good track of your levels with sampling you can squeeze a few bucks back out of the bank.
Joe, do some research on what the national debt really is. It’s related to 1933 when we were taken off the gold standard. And how can we owe anyone anything when we own the printing press. Look into it, you’ll be surprised!
@@GrainMarketsandOtherStuff did you know every one of your bills private or public are responsibility of the government? Everything you pay for has already been paid. Did you know it’s illegal to demand payments from fiat dollars? Did you know that your name in all caps means you are dead and the corporations/courts have declared theirselves administrators of your estate? Did you know all goods are paid for and considered abandoned but they double dip having you pay also? Cesti Que trust, that’s the hole you wanna go down. Thank you for responding!
How does money change hands and we don't know the destination country? All these details holding things up is an excuse, at a minimum, destination country should be shared.
