South American estimate getting trimmed.

Corn and soybeans rallied on Thursday gaining 5 and 14 cents respectively. Some good export sales in corn and wheat helped get the rally started. Wheat recovered from big losses on Wednesday. AgRural trimmed their Brazilian production numbers due to dry weather in southern states. They are now at 144.7 MMT of soybeans and 114.4 MMT of corn down from 145.4 & 115.5. They are still at record levels due to record planted area. In other bullish news, Goldman Sachs is calling for record crude oil demand in 2022 & 2023 as the Omicron variant did not affect demand and jet fuel demand should continue to rise. Look for supported markets to finish the week. NFC Grain Comments 12.17.21

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