Monday January 25, 2021

• Around noon friday something tipped the scale in the specs position to sell sell sell 
  • closed out the day near limit downs on all commodities with analyst frantically searching for a “reason” a fundamental change in the crop that wasn’t there 
  • Pure spec selling shot us down Friday we see now in open these lower prices are meeting with new buyers today 
• Argentine truckers strike significantly decreased activities into two major ports
• U.S. export sales saw a very strong week last week with the highest weekly number since October 
  • Cumulative sales so far this season stand at 2108 million bu – USDA goal for the year is 2230 million bu 
  • See chart below 
• Argentina remained dry over the weekend however relief is expected this week 
• Brazil saw rains over the weekend – still mostly favourable forecast for the next 1-2 weeks