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Highlights, Rain Days Update 11/13/22

Highlights


The US railroad strike scheduled 12:01 AM, 20 November has been extended into the first half of December.


No agreement on extending the Ukraine Grain Export Corridor and no talks were scheduled for this weekend.

 

Tidbits


Mass protests continue across Brazil for the fourteenth consecutive day as the Brazilian people are in the streets to ask for the intervention of the armed forces after the election of Lulu, the Socialist Candidate, former president convicted of corruption. The protesters are asking the military to intervene as they say: "We will not allow a corrupt criminal to rule us!" These protests could easily result in very limited corn and soybean exports from Brazil.

Given the sell-off in grains, oilseeds and the dollar index (since the key reversal on September 28th correctly called by The Tech Guy as a trend changing event), we have seen the past month, this is not a time to be short futures.

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