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Tidbits, Soybeans, Estimates S&D, ENSO, Export Inspections 2/6/24

Highlights


Federal Reserve Chairman Powell reiterated Sunday night on 60 Minutes that interest rates will stay higher longer than expected and a March cut is "not likely."

 

Argentina will be hot and dry for a couple more days. Their crops have been hard hit by the weather the past three weeks, but rain is on the way later this week.

 

Meanwhile, excessive rain in the main growing areas of Brazil have been great for late planted beans, but it is making it very difficult to harvest beans and, worse yet for farmers, planting the safrinha (second) crop corn is getting very close to the drop dead date. The ideal planting window ends February 22nd and slams shut on March 1st because the dry season begins the first week of May. Sixty-day corn does not yield well.      

 

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