Source: MORNING AG CLIPS, 1/3/22

Old crop March futures hit just shy of $1.13 December 29—up 294 points (2.94 cents per lb). New crop Dec futures closed at 91.65 cents—up .35 cents. We don’t want to and shouldn’t make too much of a single day activity. But, look at what has happened just over the last 3 days this week—Mar22 was up 3.16 cents on Monday, then down 2.23 cents on Tuesday (yesterday), and now back up 2.94 cents today.

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