Weekly Snapshot

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In this podcast episode, we discuss the recent rainfall in Mato Grosso and Goyais, which were near normal and have positively impacted the soybean market. Despite the forecast for some dryness in the coming weeks, the soybean market is still selling with confidence. Moving on to Argentina, there is nothing new to report as they are experiencing normal to above-normal rains, which is expected to result in trend yields. Shifting our focus to corn, we analyze the recent numbers from Brazil's customs ministry, which indicate lower corn exports in December compared to previous estimates. This tightening of old crop supplies in Brazil has led to an increase in domestic cash corn prices. However, it is important to note that this does not necessarily mean an increase in U.S. corn prices. Looking ahead, we anticipate a minor impact on corn production numbers in Brazil in the upcoming USDA report.