Somebody yell fire?

[Hobbyfarmer]

now on top of yesterday's price dip there is a 10¢ additional basis drop.

Granted $13.60 something is still a good place to be but basis is the gas pedal in this ol jalopy.

Must have had a flurry of sales.

[erikjohnson61y]

Anticipation of acreage shift?

New Year, new bills to pay?

Omicron in China?

Rain in Brazil?

Too many variables, not enough equations....

[sdholloway56]

Markets sometimes go down.

[dudeckk]

The crop failure in Brazil can reach 50%, but Conab overestimates a soybean harvest of 140 m/t.

[dudeckk]

Where it didn't rain, it turned into a desert and where it was raining, it turned into a swamp. This occurs in more than half of the agricultural areas in Brazil, Paraguay, Argentina, Uruguay and Bolivia.

[Hobbyfarmer]

https://heartlandfarmpartnersinfo.com/12028-2/

[BA Deere]

It seems like with these reports, those in the know quit buying to shake the leaves from the trees.  Without buyers the market goes down spooking more sellers, those who know (or think they know) swoop in and snatch up bargains.   The market rallies the day of the report and those "in-the-know" cash in their ill-gotten gains, so the day after the report there`s a "correction" . 

I don`t know if that`s the way it will work this time, but many times it does.  There are bear trolls out trying to gin up sales, I guess tomorrow will tell the story.

[rayjenkins]

Even the most bullish farmer has to eventually sell their cash corn and beans

[sdholloway56]

Could be, eventually.

But I still suspect there’s more ‘20 crop out in those monster bin complexes than accounted for.

Farmers were stuffed with cash and the market was rising.......

[sdholloway56]

People got super bullish in early summer- it was a close run thing between what turned out to be a near record crop and a substantially smaller one.

It is never easy to recalibrate.