1/19/2022

There was rumors that China may be buying 1.5 mmt of US new crop soybean as a gesture of good faith as negotiations begin on the Phase 2 trade deal with US. China fell short of buying agreed US Ag goods under the terms of the Phase 1 trade deal.  Besides the rumors of China buying, managed funds were reported buying US futures as a hedge against inflation.  Argentina is seeing needed rains. Paraguay, W MGDS, W Parana and RGDS Brazil remains dry.  There were rumors that China may be buying 1.5 mmt of US new crop corn as a gesture of good faith.  Russia threat to invade Ukraine, which maybe causing some unrest and moving futures higher.