Thursday January 14, 2021

  • Mostly higher this morning with corn just sitting around unchanged 
  • Milked just about all the gains we could have from the USDA reminder of the tight stocks in the U.S. as the market begins to turn to the next story
    • Watching late Jan – early Feb South American weather 
    • Waiting on Russia’s decision on increasing the wheat export tax 
  • Russia currently set to tax export wheat $30/MT beginning February 15 – talks now surfacing that they may increase that number to $54/MT 
  • Corn and soybeans saw a great export week and a happy recovery from last weeks dismal soybean sales