USDA to release new domestic and international estimates tomorrow February 8, 2022
March soybean futures spent the day reversing yesterday's gains. The 5 cent wide downside gap left from Monday's higher open was filled on this move today. Soyoil, a market that was a leader for almost two months, posted a drop of almost 200 points. The trade is hearing rumors Indonesia may reduce its harsh palm oil export limits. Also, better rains for Brazil and Argentina were noted in the midday update for the extended forecast. WASDE is out tomorrow.
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