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