ODA Market Alert: Trade forecasts for USDA crop report.

On Thursday, the USDA will release a highly important December 2020 crop report. The market is expecting to see more downgrades to πŸ‡ΊπŸ‡Έ US and 🌎 world stocks of both corn and soybeans, due to very strong international demand (πŸ‡¨πŸ‡³China), as well as production declines for πŸ‡¦πŸ‡· Argentinian and πŸ‡§πŸ‡· Brazilian corn and soy crops, due to sub-optimal conditions (too dry). As stocks of both crops are already very tight, heightened price volatility can be expected throughout this week.