South America received good rains in mid-January, alleviating late season production concerns. Along with the weather, StoneX Group market analyst Phillip Claussen says traders are monitoring export demand. “Like most years in January or February, there’s an eye on South American production. February is the critical weather month. Traders are also watching to see when China shifts to buying more grain from South America. Any exports the U.S. can sneak in for the next few weeks will be critical.” China bought U.S. soybeans in the last week.
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