Thursday February 6, 2025

• Corn and Beans are in the red, wheat is making small gains.
  • Beneficial rainfall returned to key farming areas in Argentina on Tuesday and Wednesday.
• Weekly DOE ethanol production rebounded impressively, back to 1.112M barrels/day (an increase of 9.6%), see image below.
• A large grain transshipment hub linking the heart of Brazil’s farm country, to the port of Santos, has been clogged up by trucks unable to quickly unload.
• China filed a WTO complaint against the US yesterday amid Trump’s new 10% tariff on Chinese imports.
• China has postponed or diverted wheat imports (mostly from Australia) due to ample domestic supply.  China has an abundant wheat supply from last year’s bumped crop.
• The US dollar declined yesterday against most major currencies as trade war concerns subside.  The Canadian dollar is currently sitting at 0.6985 cents US.
• Flash Sale:  US exporters sold 330,000MT of corn to Mexico for delivery during the 2025/26 marketing year.