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Tidbits, Spread Strategies, Markets & Rain Days Update 1/22/24


Yemen’s Houthis plan to close all three of the Middle East's major waterways: Bab Al-Mandab, Strait of Hormuz, and the Suez Canal to stop oil and gas feeding Israel from Qatar, the UAE and Saudi Arabia.


Aprosoja, Brazil’s Association of Soybean Growers, is rumored to announce this week that Brazil’s soybean crop will be 135 mil mts or less and the safrinha corn plantings will be less than 50% of a year ago. They very well may be correct on safrinha acreage, but weather the next 6 weeks will determine the size of the bean crop.


Last evening 247Ag posted this about Brazil’s soybean crop:

"We have been at 145 mil mts for weeks and we have admitted we are too high. The insane heat did so much more damage than the market understands."


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