Grain Express 12/27/22
Posted: Dec. 27, 2022, 8:24 a.m.
China
China will remove quarantine requirements for inbound travelers from January 8th as they move forward with their reopening.
South America
Dr. Michael Cordonnier cut his Argentine soybean crop estimate for the fifth consecutive week. His estimate dropped 2mmt from last week, down to 43mmt. He also lowered his estimate for Argentinas corn crop by 1mmt to 46mmt.
A Look at the Outside Markets
Equity markets are moderately higher to start the week. Crude oil is up .65% and the U.S. Dollar is little changed.
Corn (March)
Managed Money Position: 113,815 (Chart and Changes Below;Updated with the weekly CoT Report)
Seasonal Trend in Play: March corn futures have trended higher from November 16th to January 4th for 13 of the last 15 years.
Below is a daily chart of March corn futures
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Soybeans (March)
Managed Money Position: 123,569 (Chart and Changes Below;Updated with the weekly CoT Report)
Seasonal Trend in Play: March soybeans have trended higher from November 16th to January 9th for 14 of the last 15 years.
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Wheat (March)
Managed Money Position: -59,311 (Chart and Changes Below; Updated with the Weekly CoT Report)
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Seasonal Trend in Play: None. Next Seasonal Trend: March KC Wheat, Starts on January 10th. |
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