Highlights
Former Minnesota farmer turned Brazil all-around ag consultant Kory Melby commented Saturday afternoon on X:
“These numbers will increase a lot by next Friday, however, MT (Mato Grosso) soy harvest at 4.2% vs 21% (a year ago), MT cotton planting 29% vs 77% and corn planting at 1% vs 11%. Cotton is now out of the ideal (planting) window and corn has 1 month (before the ideal planting window closes). Next 30 days are mega important for 2nd corn."
If Kory is correct that the soybean harvest in Brazil will progress that much this week, soybean futures are headed sharply lower this week. The only thing keeping March soybeans above $10.20 this month is the rain delayed harvest in Northern Brazil and dry weather in Southern Brazil and Argentina.
Tidbits
On Friday Mexico refused a request from President Donald Trump's administration to allow a U.S. military aircraft deporting migrants to land in the country, a U.S. official and a Mexican official told Reuters.
On Saturday, White House press secretary Karoline Leavitt said Mexico accepted four deportation flights of illegal immigrants from the United States.