Thursday February 3, 2022

• Markets turned mid day yesterday and continue to test lower on the overnights 
• Yesterday it was reported that U.S. ethanol stocks surged to a massive 25% in the first 5 weeks of 2022 – with usage at the lowest rate since June 2020 
  • Only April 2020 recorded more stocks that this past report
• China cancelling a corn purchase from the U.S. in this mornings flash sales announcements is adding to the overall negative tone to the marketplace this morning 
• Decent weekly export sales report for corn and soybeans – but a fairly disappointing wheat number 
• Overall we were due to a down day after a massive week of gains