Joe R - 1/23/2021 19:47

Just asking/looking for some general feedback on these observations.

Soybeans
Soybean demand so far is not being rationed at these prices. Exports and crush are still very high and not slowing down. This drop in prices could be encouraging it even more. Brazil gonna have another big crop (shocker). But they had a big one last year and ran out of beans still. Had to import beans from US. China demand not going away. Argentina still in a tough situation weather wise.

Corn
US corn crop/supply from the previous 2 years is obviously overstated. China buying corn in large amounts to rebuild hog herd and fighting extreme weather events. US looking like could be opening back up in a short time from COVID restrictions....much more ethanol going to be burnt. Oil prices rising. Safrina corn crop in SA could be severally threatened by late planting.

And the number one thing that could be the wild card in the whole thing.....weather. If this drought map/subsoil situation doesn’t change in the next 4 months....we haven’t seen nothing yet.

Thoughts