Weekly ENSO update: Weak El Nino signature
The on again/off again weak El Nino continues.
CBOT Rally Holds on China Deal Hope in Holiday Thinned Volume; South American Weather Favorable for Next 2 Weeks; Mid January Peak?
CBOT futures are higher at midday with corn, soybeans and wheat all trading in the green on fund short covering amid the hope that the US/China will sign a Phase 1 Trade agreement in early 2020. Since the US announced that a deal had been reached some 10 days ago, the theme of CBOT trading…
Official SESEX Cumulative Brazil Soybean Exports Well Ahead of Shipment Data. Final Annual Exports Could Be Larger Than USDA’s Projection.
Summary:  Last week, Brazil exported 678,000 MT of soybeans. That’s down from the previous week’s 864,000 MT but is 49,000 MT more than a year ago. Argentina exported 216,000 MT.  US inspections were 1.083 MMT. As of Dec 20, Brazil’s export commitments were 70.70 MMT, 15.5% less than last year. USDA projects final exports will…
Chinese President Xi Supports Phase 1 Deal Offers New Hope for Signing in Early 2020; US Farmers Advance Corn Harvest; Funds Cover Net Shorts
** AgResource Farm Marketing Advice for Monday: 1/ Corn Producers: Hedge 20% of the 2021 corn crop at $4.24 basis Dec 2021 corn futures. This would price 60% of the 2021 corn crop. Â Â 2/ Corn Producers: Sell 15% of your 2019 corn crop if March corn futures reach $4.10. This would push 2019 corn sales…
