Thursday January 09, 2025

• Corn opening today just slightly in the green, while beans and wheat trade in the red.
  • The US dollar remains strong, substantial Argentina rains possible in the next few weeks, and the tomorrows USDA report looms. 
• Grain markets will close at 1:15 today to honour the late US President Carter.
• US ethanol production declined last week for the first time in a month. Weekly output of 1.1million barrels pre day was -1% on the week but +5.1% compared to the same week last year. Corn used for ethanol is more than 150mbu ahead of the USDA target.
• Brazil’s Anec estimated January soybean exports down almost 30% year over year, but calendar 2025 shipments are still seen at as high as 110mmt, up from 97mmt in 2024.
• A Brazilian farmer group reported the start of soybean harvest in Mato Grasso their highest producing state, harvest is trailing 6.5% from the past year. Total production of the state is to be up 13% year over year.