Friday December 18, 2020

• Markets ending the week on an uptick 
• Soybeans started swinging higher yesterday and are carrying through gains today 
  • Palm oil futures soared to a decade high price 
  • Continued dryness in Argentina with 13.6 million acres still left to plant as the Argentine farmer only has about 3 weeks left to plant (Jan 10 is roughly the cut off) the need for moisture is urgent 
• Informa updated their 2020 yield estimated for U.S. crop – lowering both corn and beans compared to last USDA estimate 
  • Corn yield estimated at 174.1 bu/ac – Last USDA was 175.8 bu/ac 
  • Soybean yield estimated at 50.4 bu/ac – Last USDA was 50.7 bu/ac 
• Ontario beef producers struggling with COVID shut down in Guelph Cargill plant with no date for re-opening at the time being