Wednesday February 2, 2022

  • Markets closed off the overnight trades sharply higher – day trade has slipped slightly lower but still managing to hold onto some of the gains made last night
  • Soys still remains the strongest with another huge flash sale of soybeans to China this morning – on a week expected to be slow for sales due to their Lunar New Year holidays
  • December 2021 U.S. soybean crush made a new record at 198.2 million bu – continuing to confirm the strength for soybean demand 
  • StoneX jumped on the bandwagon of lowering Brazilian production estimates
    • Soybean production was slashed this month from 134 MMT to 126.5 MMT
    • Corn production also lowered from from 117.5 to 116.1 MMT