Market Update – Friday January 28, 2022

• Higher again today as this soybean rally continues to forge new highs 
• Early yield reporting coming from South America is leaving room for optimism in the soybean market 
  • However it is still VERY early into their harvest – we would not use the Texas corn yield as an indication for the U.S. total corn production – so we should not write off the South American crop because of what has been harvested so far
  • But it is supporting the overall opinion that the production will be less than expected
• Another flash sale announcement this morning to China aiding in rally today