Highlights
Early yesterday morning there was a hint that Brazil’s weather forecast beginning January 1st was turning a bit drier. Yesterday morning, BAM Weather Guy Kirk Hinz posted on Twitter:
"Going Drier vs. Data into Jan - making my latest SA ag weather video public today - give it a watch/listen!
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Once again, data is wet for Central Brazil for the month ahead, once again the atmospheric ingredients do not agree.
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I think Jan ‘24 is hotter and drier than what most expect."
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The Biden administration announced late midday yesterday that the rail crossings at Eagle Pass and El Paso would be reopened later yesterday. At 6:11 PM Eastern Time, Reuters News Service reported:
"The United States on Friday reopened two rail crossings between Texas and Mexico."Â
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The Jan/March soybean spread traded into 1¾¢ carry yesterday, but ended the session at 6½¢ carry, down 2¢ on Friday. If the Mexican border crossings are truly opened this weekend, there is reason to believe you might be able to roll your January bean basis contracts to March at 4¢ or better.