Soybeans end the week lower. November 17, 2023
Further confidence for a moderate rain in Brazil's Center/West region has been seen. Five day totals ahead would run 0.2 - 1.4 inch. To be fair this outlook would still run below the normal weekly rains of 1.7 inch for Mato Grosso. The current full two-week outlook suggests 1.4 - 3.0 with limited areas potentially seeing more. The trade is still discussing dryness for December. 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 when reproduction hits.
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Allendale Insider
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SA maps still look solid for rains in the 10 day
December 1, 2023
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Trade expects strong exports and more 8 AM announcements
November 30, 2023
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Open interest continues to fall drastically
November 29, 2023
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Overnight reacting to slow BRA planting pace and may be looking for new China buying
November 28, 2023
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Trade Holds On To Hope Of China Purchases
November 27, 2023
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