FI Morning Grain Comments 12/23/21

PDF attached

Good
morning

CBOT
agriculture markets close normal time today. Closed Thursday night/Fri dec 24th . Re-open Sunday night dec 26th regular time.
https://www.cmegroup.com/tools-information/holiday-calendar.html

Look
for a choppy trade ahead of the long holiday weekend.  Agriculture prices are taking a step back before the long holiday weekend after rallying this week.  The soybean complex ended the overnight session lower, corn moderately lower, Chicago wheat lower, KC
lower, and MN higher. Iran bought more than expected soybean meal, corn and wheat. Algeria bought 200-250k durum wheat. USDA export sales were within expectations for soybeans, corn and all-wheat, and exceeded expectations for meal and oil. Sorghum sales were
excellent. USD is higher and WTI crude higher. Argentina and Southern Brazil weather is still unfavorable over the next ten days but early January there is an opportunity for rain. 

Weather

World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR DECEMBER 23, 2021

• Not
  much change around the world.
• India
  will have two waves of rain in its key winter crop areas during the second week of the forecast lifting soil moisture for crops ahead of reproduction.
  
• Eastern
  Australia will get some rain in summer crop areas, but a reduction in rain was suggested for central New South Wales relative to Wednesday’s outlook.
  
• Southern
  Australia late season wheat and barley harvest weather will be dry and warm allowing for rapid fieldwork.
  
• Russia’s
  was quite cold this morning, but snow fell across many areas Tuesday and Wednesday raising protection to all winter crops from the cold and no winterkill is anticipated.
  
• Russia
  and eastern Europe will continue quite cool for a while, but snow on the ground will continue to protect crops in the coldest areas.
  
• Southwestern
  Morocco remains in a serious drought and dryness remains in northwestern Algeria as well and neither area will get much relief.
  
• In
  South America, the forecast today has not changed much from that of Wednesday with limited rain for central and eastern Argentina, Uruguay, southern Paraguay and southern Brazil for at least the next ten days and below average precipitation through the month
  of January. 
• In
  North America, a bitter cold airmass in western Canada will drop into the western and north-central U.S. this weekend and next week bringing a stronger demand for heating fuel, but the cold is not expected to get very far into the central or eastern U.S. 
  
• A
  more active weather pattern is likely in the U.S. next week because of bitter cold in the north and west and very warm weather in the southeastern states and southern Plains.
  
• The
  storms will not bring much moisture to hard red winter wheat areas, but most other areas in the nation get rain and/or snow multiple times next week and into the first full week of January. 
  
• South
  Africa will continue plenty moist
• Parts
  of the Middle East will get some needed moisture during the second week of the forecast.
  
• China’s
  weather will remain tranquil.
• Southeast
  Asia will see periods of daily rainfall.