Tomorrow at 11 AM Central Time, USDA will issue its monthly S&D. It looks like corn yields could be increased and exports should be reduced. But remember, the anticipation of an event will move the market more than confirmation of the event. A somewhat larger corn carryover is already priced into the market. Will the increased carryover be larger or smaller than expected? The answer to that question will determine how much the market moves after the report. We do not expect much of a move.
Most of the pro-Bolsanaro road blockades in Brazil have reportedly been cleared.
The Brazilian currency, the Real, reversed its uptrend to lower yesterday as socialist President Elect Lula announced he will print money.
Argentina's inflation rate is 60% and rising every week as their government prints more money to pay for the inflation from last week's printed money.