- Overnight grain markets: Corn +1/2, Soybeans -2 1/2, Wheat -3/4, Crude +.59, Gold +9.9, Dollar -.46, Dow futures -99.
- Soybeans down today on Argentine weather forecast with rains in the majority of the soybean growing regions starting January 12th with another system to follow.
- Brazil’s weather continues to be favorable. Soybean harvest is seen at 5% done compared to 15% last year. Next 10 days has a wet forecast and could delay harvest.
- Ukraine’s grain exports have fallen 10% so far this year. So far exporting 21.3 million tonnes vs. 23.6 last year. Exports have reached just 6 million tonnes for January.
- Average estimate for Conab’s Brazilian corn production report is at 89.5 million tonnes versus 92.2 million in December and compared to 97.8 million last year.
- Support provided in Wheat yesterday with the Australian Bureau of Statistics suggesting lower wheat inventories for the nation than thought. Reporting 30.4 million tonnes last year compared to 33.5 million reported by the USDA.
- Cattle rallied yesterday after pushing to new lows. Leaves speculation that we may have found a short term low. Second half of January is typically a poor seasonal time for cattle.
- USDA Crop Report this Friday at 11am CST.