China finally buys a slug of soybeans. Focus turns to USDA’s report tomorrow. November 8, 2023
Brazil is in the moderate risk-on category right now. The main three Center-West provinces have seen normal/below-normal rains ahead of, and during, early soybean planting. Drew Lerner warns us temperatures at the end of the week will run in the upper 90's to potentially 110. Peak summer-type hit would be hitting in their version of spring. The current two week forecast shows no change in the moisture patten. There is a light, valid, production hit to expect from weather to this point. The trade is lightly pricing additional premium based on the potential for no improvement in weather in the months ahead.
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