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Tidbits, Brazil, ENSO, Markets & Rain Days Update 11/22/23

The CBOT will trade Friday from 8:30 AM to 12:05 PM Central time. It is against the law for any US futures exchange to be closed four consecutive days, therefore, futures exchanges will always trade the Friday after Thanksgiving. 



Yesterday morning saw scattered showers in Brazil’s major crop area (central) with week to date rainfall a half inch (13 mm) to one and half (39 mm). The EU weather model for the next 10 days was a bit drier with moderate temperatures.


Last evening, many areas of Brazil’s main crop area received heavy rains, but the consensus is this weekend and next week are turning drier and hotter and December weather will be like the first half of November. Some are saying El Niño strengthening.


Wheat was firm yesterday as Russia stepped-up drone and missile attacks on Odessa, Ukraine, the largest grain exporting port on the Black Sea. Yesterday afternoon, Andrey Sizov, the guru of the Black Sea wheat market, said the Russian wheat market probably bottomed last week.  

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