Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyGoogleTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.Today, the USDA is set to release several important reports at 11:00 AM CST, which include the quarterly Grain Stocks report, the monthly Crop Production/WASDE report, and the Winter Wheat Seedings report. The January report is known to be influential in the market and has previously been associated with trend changes. It includes the "final" 2023 US corn and soybean production numbers, which will be closely watched by traders, along with any updates on South American production estimates. ??China is taking steps to increase its corn stockpiles by purchasing corn from northeastern China and other key producing regions. This move is aimed at bolstering its reserves. USDA data has estimated China's 2023 corn crop at 277 million tons, which would be the second-largest on record, coming close to the all-time high of 277.2 million tons in 2022. ???Argentina's corn crop is expected to reach a record size, with projections from the Rosario grain exchange estimating a harvest of 59 million tons, an increase of 3 million tons from previous estimates. This boost is attributed to ample rainfall. The exchange has also raised its estimate for Argentina's soybean crop to 52 million tons, up from the earlier forecast of 50 million tons. ????US corn export sales have shown an increase in the past week, with net sales of 487,600 metric tons (19 million bushels). This represents a 33% increase from the previous week. However, soybean sales fell below expectations at 280,400 metric tons (10 million bushels), albeit showing a 39% increase from the previous week. Wheat sales were also below expectations, totaling 128,100 metric tons (5 million bushels). China was the largest buyer of wheat for the week. ???A recent flash sale of corn to Mexico was reported by the USDA, with 175,000 metric tons (7 million bushels) sold for delivery during the current marketing year. This marks the first flash sale since December 19th and the first flash sale of US corn since December 8th. ????Inflation has risen more than expected, with the December Consumer Price Index (CPI) showing a 0.3% increase compared to the previous month, slightly surpassing the anticipated 0.2%. On a yearly basis, CPI increased by 3.4% in December, exceeding economists' projections of 3.2%. Shelter costs played a significant role in this increase, with a monthly rise of 0.5% and an annual increase of 6.2%. Despite this, the markets are still projecting a 69% likelihood of the Federal Reserve starting to cut rates in March. The December Producer Price Index (PPI) report, expected later today, will provide further insights. ???