Your Pro Farmer newsletter (December 10, 2022) is now available

USDA’s December crop reports have a history of being relatively uneventful and this year was no exception. While there weren’t many surprising changes to the domestic and global balance sheets, building drought stress in Argentina is getting a lot of market attention in soybeans and especially soymeal, as production estimates decline. How long that market support remains will likely be determined by the expected weakening of La Niña through the first quarter of 2023. World Weather Inc. expects improved weather in areas of southern Brazil and Argentina, though it could come too late for some crops. On the macroeconomic front, China made its most sweeping changes to its strict Covid policy since the pandemic began, which is spurring hopes of increased economic activity. We cover all of these items and much more in this week’s newsletter, which you can download here.