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🎥 Severe Storms Slam Midwest + Market Moves & China Soy Woes ⚡🌽💼
Hey everyone! Big weather and market headlines to cover today — let's get into it 👇
0:00 Derecho Update
3:46 Corn and Soybean Price Action
5:45 Govt Payments??
8:26 Soy Demand Problems (China)
9:30 US/China Talks
10:51 Oil Refiners
🌪️ Midwest Storms Cause Chaos
Severe storms tore through the Upper Midwest on Monday night with wind gusts up to 130 mph reported from eastern South Dakota to western Wisconsin. Crops like sorghum sudan and corn were knocked flat in spots, and a South Dakota dairy suffered major structural damage. Tornadoes and large hail also hit parts of Iowa and South Dakota. Was it a derecho? Still unclear. 🤔
💨 CropProphet has a killer wind speed map by county (see below). Despite the destruction, crop damage appears minimal based on early reports. Remember: the 2023 derecho didn’t crush yields either. 🌾
📉 Markets Take Another Hit
Corn and soybean futures were down for the 3rd straight session:
Dec25 Corn: ⬇️ 3¢ to $4.11/bu
Nov25 Soybeans: ⬇️ 2¢ to $10.10/bu
Wheat also dropped:
Dec25 SRW: ⬇️ 9¢ to $5.50/bu
Dec25 HRW: ⬇️ 7¢ to $5.40/bu
Cooler weather + rain = bearish sentiment 📉🌧️
🐖 China Soybean Demand Weakens
China’s Q4 soy demand looks soft due to:
Record early-year imports
Weak feed sector demand
Crushing margins still ugly 😬
Some plants have shut down for lack of storage. And still — no US new crop soy sales to China yet. Argentina meal is doing the heavy lifting. 📊
🇺🇸🇨🇳 US-China Trade Talks Continue
Trade talks in Stockholm ended without a new tariff truce agreement, but more discussions are planned. Deadline: August 12. Will Trump approve an extension? Decision coming soon. 🤝🕰️
🛢️ Refiners vs. Biofuels
The AFPM is fighting Trump’s push to boost ethanol mandates to E15, saying it could cost refiners $70 billion. They're also blaming proposed EPA rules for refinery shutdowns — but the real issue may be declining gasoline demand. ⛽📉
👍 Like, 💬 comment, and 🔔 subscribe for more ag + market updates every week!
#StormDamage #GrainMarkets #ChinaSoy #Derecho #Ethanol #TradeTalks #AgNews #CornBelt #Soybeans #FarmingNews #TrumpTariffs
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