Joe's Premium Subscription: www.standardgrain.com

Grain Markets and Other Stuff Links-

Apple Podcasts
Spotify
Google
TikTok
YouTube

Futures and options trading involves risk of loss and is not suitable for everyone.

Hey, everyone! 🙌 Today's video is packed with important updates from the USDA’s latest Crop Production and WASDE report to major challenges in Russian grain exports, low water levels on the Mississippi River, and US ethanol production. Let's dive into the details! 🚜👇

🌾 USDA Crop Production & WASDE Report: What to Expect
Today at 11 AM CST, the USDA will release its monthly Crop Production and WASDE report. Here’s why traders are eagerly waiting:
For the first time this year, the government will incorporate "objective yield data" 📊 into its corn and soybean estimates!
Expectations: A small reduction in the US national corn yield estimate 🌽 and mostly unchanged soybean yield estimates 🌱.
With drier weather hitting the eastern Corn Belt, some traders believe last month may have been the high point for yield estimates. 📉

🇷🇺 Russian Grain Exports to Decline
Russia’s grain exports are expected to take a hit this year, especially from the Rostov region, which suffered early spring frosts and drought. This region, Russia’s breadbasket, accounted for over 11% of the nation’s grain harvest in 2023, but production is predicted to drop by 30% this year. 😲
Complicating matters further, TD RIF, Russia’s largest grain trader, is sitting out this year, adding uncertainty to export potential.

🚢 Mississippi River: Low Water Levels Hurting Farmer Profits
🌊 Here’s how bad it is:
Grain shipments on the Mississippi dropped 17% compared to the previous week.
Freight rates are skyrocketing! Rates in St. Louis are up 57%, and in Memphis, they’re up 63% compared to the three-year average. 📈

🍻 US Ethanol Production Surges
Good news for the ethanol market! 🚗 US ethanol production hit 1.08 million barrels per day last week, which is up 1.8% week-on-week and a big 6.7% increase compared to the same week last year! 🔥
Ethanol stocks were reported at 23.7 million barrels, up 1.5% from last week and 9.7% higher than the same week last year.
However, implied gasoline demand was down 5.1% on the week, continuing a trend of weaker demand this year.

🏦 Inflation Hits Lowest Level Since 2021
Inflation is cooling down! The CPI increased by 2.5% in August year-over-year, marking the lowest level since February 2021. 📉
Month-over-month, prices remained flat compared to July.
Economists expected a slightly higher annual gain of 2.6%, but this low reading almost guarantees a Federal Reserve rate cut next week.

👇 Stay Informed!
Don’t forget to subscribe to stay up-to-date on the latest agricultural trends, ethanol production stats, and global grain news! Drop your thoughts in the comments—what do you think the USDA report will reveal? 💬

#USDAReport #RussianGrain #MississippiRiver #EthanolProduction #Inflation #AgNews