What is really going on with the weather and crop conditions in Brazil as forecasted rains seem to trump continued lower crop estimates? Will it take a sub 150 mmt soybean crop for the market to care? Darren Frye, Water Street Solutions has the answers.
Markets Now Special: What’s Really Going on With the South American Crop and When Will the Market Care?
What is really going on in Brazil as forecasted rains seem to trump continued lower crop estimates? Will it take a sub 150 mmt soybean crop for the market to care? Darren Frye, Water Street Solutions has the answers.
December 22, 2023 12:28 PM
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Soybeans ended higher as rumored export business was confirmed by USDA with a flash sale of 13.2 million bu. sold to unknown destinations. However, China was also looking for corn and wheat.
Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
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