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Highlights, Brazil Areas, Next Harvest Prices, Markets & Rain Days Update 1/19/23

Highlights


Rumors of big layoffs in the financial banking sectors mid-day yesterday at the same time JP Morgan told clients to sell “everything.” JPM does have a sizable ag book, so the ag markets, not knowing what was going on, jumped on the selling bandwagon.

Weather forecasts continued the forecast for Argentina to get 1½ to 3½ inches (3.8 to 8.9 cm) of rain over the next two weeks. That will not make a crop.

More rain expected for Central Kansas over the weekend added to pressure to the wheat markets.

Certainly, the soybean longs were looking for an excuse to take profit.

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