1/12/2021
Jeremy Vander Vorst, Grain Marketing Specialist
January 12th Agtegra Morning Market Insight

USDA Report at 11am don’t forget to have you open orders placed
Corn: As of 7:45 1- Higher
Argentine farmers said they would continue their ban on selling crops despite the government’s adjustment to the corn export policy. Corn exports are currently up 78% versus USDA’s 49% increase. The Trump administration is looking at granting biofuel waivers this week which would be another blow to the biofuel industry.
Soybeans: As of 7:45 4-6 Higher
 Weather forecasts are looking better for central Brazil with two-week forecasts showing potential for 4-6in and the 2-4 in north Brazil.  Soybean harvest is underway in Brazil but with the dry start to their planting season crops were planted 1-2 weeks later than normal which has pushed harvest back. Palm oil exports for the first 10 days of December were off 29%
Wheat: As of 7:45 6-9 Higher
Russia continues to talk about possibly raising the wheat export tax from the current 25 euros to a rumored 50 euros as they try to lower domestic food prices. Overnight the SoKor group purchased 50kmt of US milling wheat.