Friday February 18, 2022

  • Starting on a higher note for the last trade session of the week as we head into a three day weekend 
    • The markets will be closed Monday for Presidents Day in the U.S. 
    • Snobelen Farms will be closed Monday for Family Day 
  • Strong soybean demand continues as moisture remains hard to come by in South America is keeping the soybean market testing highs 
  • Russian tensions seem to be slightly simmering today allowing the wheat and corn market to take a breath
    • However nerves of what can change over a three day weekend are present keeping the prices higher
  • Brazilian harvest continues to move along – as of Monday they were 25% complete and expected to have completed a good chunk this week – by next week we should be able to start getting more accurate predictions on the crop size 
    • Current estimates range but most falling between 125 – 135 MMT 
    • Once we get confirmation on the crop size – if it does end up to be within expectations or slightly higher we could see some of this premium come out of the