Tuesday January 3, 2022

• The Ag markets have started out the new year on a slightly lower note
• Brazil did not see as wide of rain coverage has they had hoped over the weekend 
• Argentina looking to get some rains in the 6-10 day forecast 
• China has seen COVID numbers peak in many major cities over the last two weeks, providing optimism that the worst is now behind them from an economic standpoint and looking to see steady improvement as we get into the new year 
• The January USDA report will be released next Thursday January 12 – this will include the regular monthly supply and demand update as well as the December 1 stocks number and the “final” yield estimates for the 2022 crop
  • Historically the January report has been a big one in terms of market impact, we will watch estimates for the report start forming likely by the end of this week 
• Looking forward, South American harvest and the U.S. acreage battles will be the two biggest news items to watch as we come into the first quarter of the new year