Thursday December 3, 2020

• Soybean market is bouncing back after a bad start to the week 
• Strong soybean demand remains both for export and crush 
• Brazil’s soybean planting and early growing stages are benefiting from recent rains – however there is still a long season ahead for South American weather scares. 
  • Still expecting a La Nina weather cycle this year which generally has negative affects on South American yield
  • It was the last La Nina year in spring 2018 that we last saw $13.00 for soybeans 
• Weekly export sales were strong again for corn – soys and wheat both coming in within expectations 
• Canadian crop production numbers updated by Stats Can today
  • Total wheat at 35.183 MMT up 7.7% from last year
  • Soybeans 6.359 MMT up 3.5% from last year
  • Corn 13.563 MMT up 1.2% from last year