Imports and Exports
Chicago Board of Trade corn and soybean futures rose to their highest since mid-June on Thursday, with traders noting continued support from a U.S. government report that showed spring plantings fell below expectations.
Recently I received a request for an explanation of the corn futures delivery process. So, I reached out to my good friend Joe Rich of O’Bryan Commodities to help me summarize this complex process.
As of Friday morning, there were 62 vessels and 1,058 barges in the queue, ready to head to the Gulf.
The Hernando de Soto Bridge, which links Memphis and eastern Arkansas, could be closed to vehicle traffic for a couple of months. Grain exporters are hoping barge traffic will be able to resume much sooner.
A container ship blocking the Suez Canal like a “beached whale” may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.
U.S. corn futures edged higher in actively traded nearby contracts on Tuesday on strong export demand after the U.S. Department of Agriculture confirmed the largest sales to China since January.
Since last year, China has been importing record volumes of U.S. corn due to a supply shortage and record domestic prices.
Both corn and soybeans still face the potential for export cancellations, which could lead to larger carryouts and impact prices long-term. How will farmers be affected?
U.S. President Joe Biden and his Chinese counterpart Xi Jinping held their first telephone call as leaders.
Welcome to direct marketing on steroids. Chris Adams, 30, is transforming his farming operation with an export business built on trust and boots-on-the-ground trade missions.