Tidbits
HedgePoint Global, a world-wide financial risk management service reduced their estimate of Brazil's soy crop from 160 to 153 mil mts.
After Trump won big in Iowa Monday evening, some analysts, especially those who buy grain, are predicting he will be the next president which will cause a trade war with China resulting in lower soybean and corn prices. That appears to be the primary reason beans were so weak on Wednesday.
US retail sales rose 0.6% in December after a 0.3% gain in November according to the US Census Bureau. The market expected a gain of 0.4%. Retail sales increased 5.6% for calendar 2023.