South American corn and soybean outlook: Playing the odds

[...]favorable precipitation outlooks through December could keep Brazil’s soybean crop developing favorably as 2023 begins. [...]China’s live hog futures tumbled in December as consumer balked at higher prices. Growing concern about a global recession as central banks in the world’s top economies (most recently, the U.S. Federal Reserve, Bank of England, and European Central Bank) continued to raise interest rates ushered in additional concerns about commodity demand in the 2023 calendar year and could keep a lid on corn and soybean prices around the world if a potential downturn is severe enough. Any South American weather hiccups – or blessings – in January will likely cause significant price volatility in the U.S. soybean futures markets.