Grain traders are focusing heavily on South America crop. BOLT Marketing market analyst DuWayne Bosse is monitoring the driest areas of southern Brazil and northern Argentina. “Traders are concerned dryness will stick around the entire month of January. If that below-average precipitation sticks around, it will keep a weather premium built into the soybean market.” The January 12 USDA reports are another uncertainty for grain traders. “It’s a big crop report and the biggest piece is usually the quarterly stocks report. I’m still wondering, looking back, did we really have that much old crop supply hanging around? The USDA should update that in this next report.”
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