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