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MIDDAY Midwest Digest, March 10, 2020

Audio-MIDDAY Midwest Digest, March 10, 2020

Max Armstrong talks about oil prices, soybean harvest in Brazil and coronavirus.

There will be ramifications in U.S. oil fields from that dramatic reduction in the price of oil. We hear that oil companies are rushing to cut spending. For the last three years, OPEC and its allies have cut spending to boost prices. That left the door open for U.S. producers to pump more oil and capture market share. The U.S. is now the largest oil producer in the world, pumping out 13 million barrels of crude per day. But the companies operating here have struggled to make enough to satisfy investors.

Some Midwest farmers planted soybeans last weekend. Brazilian soybean harvest is right on schedule with 55% harvested.

Have you looked over the details among those who have succumbed to coronavirus? It's mostly the elderly who have died. 15% of those over 80 who get the virus die from it. For those ages 70 to 79, the death rate is 8%. If you're under age of 50, fewer than 1% who get coronavirus die from it.

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