Tuesday December 6, 2022

• Beans swinging back higher this morning 
• Soybean demand looking optimistic with China continuing efforts in re-opening 
• Bean market also seems to be more heavily focused on the slow dry start in Argentina than the overall good conditions in Brazil for planting 
• Australia’s wheat production estimated to come in at a record 36.6 MMT, despite struggling with flooding in some regions 
• Monthly USDA report to be released Friday
  • The biggest question I have going into the report is how they will adjust US corn export demand as sales have got off to a so far very slow pace 
  • Estimates are that corn carryout will rise due to the lack of export sales 
  • Argentine production expected to decrease due to dryness through their planting thus far 
  • Brazilian production expected to be steady to higher from November estimates