Wednesday November 17, 2021

  • Markets got a shot in the arm this morning after a down day yesterday
  • Global commodities demand being the catalyst for this mornings rally 
    • Lots of action in global wheat this morning 
  • India came to the global market place for soybean oil this morning 
    • India is typically not a global soy oil purchaser so their presence in the market is encouraging for the overall soy complex
  • Informa updated their estimates for 2022 U.S. planting
    • Corn 90.8 million acres – down from October estimate and 2.5 million acres below 2021
    • Soybeans 87.9 million acres – up from October estimate and 0.7 million acres above 2021