09/04/2024 September Stocks Stall, Oil Plunges- Why? Jobs Report

Above you will find today’s instalment of Moring Market Talk. Libyan Oil to Blame You can click on the picture above to take you to this morning’s episode. https://youtu.be/ngYRJZyYDqw On the Grains Good Wednesday morning. Yesterday’s impressive run across the board was most likely funds covering after the three day weekend. The funds, USDA, and every other market analyst can tell them what they want to hear, that the soybean crop is just fine, yet large swaths have gone backwards with the limited rain.  Several Northeast Iowa farmers I talked to yesterday said that the bean crop, planted early, hoping to avoid the dryness, had small bb like beans and he was estimating harvest in just three weeks. If the Export market wants them they better get them now while the producers are convinced that the crop is made and before the combines roll. Currently, the U.S. is the place to grocery shop running a 50-60 cent discount to South America. Which brings us to the next point- USDA and CONAB are still a zip code apart on last year’s yields. While, there is nothing saying that they have to matchup, we’re selling beans cheaper than them. The truest form…