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Tidbits, Options Money Flow, Export Inspections, Markets & Rain Days Update 1/30/24

Tidbits


The Federal Open Market Committee (FOMC) has 12 members: the 7 members of the Board of Governors of the Federal Reserve, the President of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis.


The FOMC will begin a 2-day meeting today to decide if they should change the Fed’s discount rate, which determines the interest rate for the US economy. No interest rate change is expected this month. The next FOMC meeting will be in March.


AgRural reports Brazil’s bean harvest at 11% complete vs. 5% last year and 7.6% average with 2nd crop corn planting at 11% done vs. 5% last year.


Dr. Cordonnier left all his South American production estimates unchanged this week. All numbers are million mts:

  • Brazil beans: 149

  • Brazil corn: 115

  • Argentine beans: 52

  • Argentine corn: 56

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