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