“I’m the best juice harp player in Mississippi, and that means I’m best in the whole world.” Sonny Boy Williamson
No less than 4 sources were quoted in wire services, saying the US production would be cut by 3/4 Mb. This was a widely accepted “fact,” one that supported upward price gains in the last 2 weeks. These pages opined a push, and one savvy analyst who does good work suggested at most a cut of 200 kb. A cut of 3/4 Mb would have resulted in higher prices, but no cigar. A cut of similar size did arrive in world numbers, from several different countries. Call it all a slight tilt to the friendly side, but given that Mar was trading 65c on the last report, the Jan report is not worth a 6c gain. Not even close.
Sales were on the poor side of mediocre at 157 krb, with Viet high at 97. Shipments were ok at 215 krb, but this number needs to grow soon.