On the Grains
Good morning, subscribers! Welcome to the final harvest report of 2024, where we will be learning just how big the 2024 crop was. In all reality, it is not so much what we grow. It’s what’s growing that is worrisome. Demand has been nothing but spectacular for corn, while even the soybeans have had a few days in the sun. If there is one concerning part of this report, it’s Brazil’s bean production number. We all know that the USDA has been historically slow at adjusting the yield lower in previous years, and the expectation is that they will be slow to raise it. If they go for the band-aid rip of 171+ MMT, it could send funds to the door.
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