Wednesday January 4, 2023
- Markets began slipping lower mid morning yesterday, taking off the top end of gains put on through the Holidays
- Export sales continue to be disappointing out of the U.S. as the prime export season for North America gets closer to its end
- As South American harvest advances typically sales decline from the U.S.
- StoneX has lowered their estimate of Brazil soybean crop from 130.3 MMT to 128.7 MMT
- Lower yet still a record crop
- Dryness in both Argentina and Brazil will continue to be closely monitored
- Trade will be watching for estimates for next weeks USDA report – should start to see industry predictions end of this week