Tuesday January 28, 2025
- Grains are recovering this morning, wheat and corn futures are higher, tariff threats are on the back burner.
- Chinese Lunar New Year commences Jan 29th and will run through to February 4th.
- South American crop areas are still seeing beneficial rains this week and with production and exports still anticipated to overwhelm the global market place in 2025.
- US soybean export inspections continue their sharp seasonal decline while Brazilian bean exports are expected to surge over the coming weeks.
- Second corn crop planting pace in Mato Grosso is behind average for this time of year, see chart below.
- The corn net long position increased by 20K contracts on Friday.
- Flash Sale:
- US exporters sold 139,000MT of Corn to Mexico for the 2024/25 marketing year.