Friday February 4, 2022
- Markets more subdued so far as we enter the last trading period of the week
- Another flash sale of soybeans to China this morning
- Buenos Aires Exchange cut their production estimates for Argentine soybeans from 44 MMT to 42 MMT
- USDA report out on Wednesday February 9 – Estimates showing:
- Slightly lower 2021/22 carryout expected for corn and soybeans
- World carryout expected to be lower as well for 2021/22
- The most widely anticipated update is the South American production estimate – expecting to see lower numbers across the board
- Crude oil remains near highs – keeping support in all oil markets strong including the soy complex