Wednesday February 17, 2021

  • Markets lower this morning after a green yesterday¬†
  • Wheat market flip flopping back and forth – pushed higher yesterday on concern over crop losses due to the historical cold front however meeting some selling this morning as the trade digests the fact that the damage is unknown and will not be know until later in the spring
  • Demand remains strong for soybeans – saw another good crush usage number from the U.S. yesterday – re-affirming that they have not begun demand rationing even in the face of these high prices
  • Regions of Argentina looking to get some rains with the bulk of the country set to remain dry otherwise¬†