Thursday December 17, 2020

• Markets open mostly in the green today 
• Argentine port union strikes expected to last into next week causing losses of $100 million a day with a total of 130 ships waiting to load 4.5 million MT of product including grains and oil seeds
• Brazil continues to see beneficial rains as well as a promising forecast where Argentina looks to be missing most chances of rain with a mostly dry forecast 
• Weekly export sales showed very strong corn numbers once again with soybean sales over expectations and wheat on the higher end of expected range
• As part of President Elect Bidens plan to counter climate change he is proposing to pay farmers to take land out of rotation and grow cover crops