Monday December 12, 2022

  • Beans seeing a bit of a sell off this morning after forging highs on Friday 
  • Widespread beneficial rains in both Brazil and Argentina this weekend aiding in their crop conditions 
  • USDA report released Friday was overall fairly non-eventful
    • Exports for 2022/23 lowered for corn, raising the carryout slightly – as expected
    • Bean and wheat carryout remained untouched 
    • South American production was also left unchanged 
  • The re-opening of China is leading to a very rapid spread of COVID through the country putting a huge strain on their health care system
    • Chinas economy estimated to go into a down spell as a result, expecting up to 20% of their population to be hospitalized