Friday November 6, 2020

Markets are fighting to hold their gains after a huge week – Beans struggling with the $11.00 futures line as funds sell off some position in profit taking
Concern remains over Argentine crop dryness remains
U.S. dollar weakening allowing for a wave of outside investment to come in on American Ag products
Private analyst Abiove increased their estimates for Brazils 2020 soybean production from 125.8 MMT to 126.4 MMT – also increasing estimates for 2021 from 131.7 MMT to 132.6 MMT
U.S. creating new COVID 19 records – now being the first country to report more than 100,000 new infections in a single day
Argentine planting still behind pace at 4.1% complete for soys and 31% complete for corn due to the dry conditions they have been facing – no relief expected in the next 2 weeks
Chinese – Australian dispute could open the door for wheat exports