Friday May 8, 2020

  • Decent Chinese soybean sale yesterday helping to continue corn and bean rally today 
  • Markets closed higher yesterday as the market reacted to corn sales to China as well as beginning to price in some risk for the cold front coming through and with soybean sales again today it might be enough to let us coast higher into the weekend 
  • New reports that China and the U.S. have re-affirmed their commitments to fulfilling their phase one trade agreement made earlier this year despite current tensions 
    • A much needed reassurance given the collapse in demand that has occurred over the last several weeks 
  • Argentina is virtually complete their soybean harvest with corn 38% now complete as well