Good morning,
Corn is up 3 and soybeans are up 25 to start the day.
All you need to do is look at the US dollar chart to see where the rally is coming from.
Corn export sales fell short of trade expectations this past week at just 10.4 million bushels, down form 14.7 last week and 35.1 on the comparable week last year. Sales have averaged just over 11 million bushels over the past 6 weeks, compared to 45 million bushels over the same span last year.
Look for exports to remain poor with the US dollars strength in comparison to the rest of the world.
China is making small changes on Covid rules by shortening the quarantine by 2 days, down to 5 for close contract or foreign visitors. China ended its circuit breaker penalties for airlines. China reported 10,535 new cases overnight, additional lockdowns are expected this weekend.
The forecast in South America is wet over the next 10 days. Rains will be moving in over the weekend in both Brazil and Argentina. Amounts will be 1.5-3.5 inches for Brazil and .5-2.5 inches in Argentina. Temps will be normal. After this system moved out Argentina weather goes back to dry on the long-range forecast.
Have a Safe Day!
Garry Gard
920-348-6844
