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New gross longs were the primary reason for the move, as has been the case in most recent weeks when funds were net corn buyers. CBOT corn ended at $6.83 per bushel Friday, up 5% from the month’s low and stronger than the year-ago $6.36. Most active CBOT wheat futures fell more than 2% in the week ended Jan. 24, including a 16-month low of $7.12-1/2 on Jan. 23. Most-active CBOT wheat had traded between $4.16 and $4.37 per bushel in April 2017. Their net long fell to 135,503 CBOT soymeal futures and options contracts from the all-time high of 150,939 a week earlier.

☆ U.S. Senator blocks bid to close EV tax window
▼ + stars: | 2023-01-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 26 (Reuters) - Senator Debbie Stabenow thwarted a bid on Thursday by fellow Democrat Joe Manchin to pass a measure that would block some electric vehicles from receiving a $7,500 tax credit. The $430 billion U.S. Inflation Reduction Act passed in August restricts the $7,500 consumer tax credits to North American-made EVs and imposes new battery sourcing rules and again made General Motors (GM.N) and Tesla (TSLA.O) eligible for EV tax credits. That drew Manchin's ire, who proposed legislation on Wednesday to make the battery tax credit requirements retroactive to Jan. 1. Automakers need more time to meet battery sourcing requirements, she said. The "March target release date for battery sourcing guidance reflects the time that has been needed to work through significant complexities."

☆ 7 movie and TV trailers that dropped this week, from 'Succession' to 'Dungeons & Dragons: Honor Among Thieves'
▼ + stars: | 2023-01-27 | by ( ) www.businessinsider.com time to read: +3 min

Several new trailers were released this week, including a trailer for HBO's hit series "Succession." Dungeons & Dragons: Honor Among Thieves brings the rich world and playful spirit of the legendary roleplaying game to the big screen in a hilarious and action-packed adventure." Premiere date: March 31, 2023Where to watch: In theaters"Daisy Jones and the Six"YouTube synopsis: "It's time to hear the real story. Premiere date: March 3, 2023Where to watch: Amazon Prime"Shazam Fury of the Gods"YouTube synopsis: "From New Line Cinema comes 'Shazam! Premiere date: February 9, 2023Where to watch: HBO Max

As of Jan. 19, U.S. soybean sales for 2022-23 totaled 46.5 million tonnes, up 5% from a year earlier. Robust sales are not necessarily needed from here as only 7.6 million tonnes stand between Jan. 19 sales and USDA’s full-year forecast. Net U.S. soybean sales to unknown destinations in 2022-23 are record-large for the date at 4.6 million tonnes. Sales to China of 28.2 million tonnes as of Jan. 19 are up 11% from last year. Some 129,000 tonnes had been sold to China in the week ended Jan. 19, revealed in Thursday’s weekly export sales.

☆ Read the 15-page pitch deck that raised $6 million for StoryCo, a blockchain-based platform that links Hollywood creatives directly with fans
▼ + stars: | 2023-01-26 | by ( Elaine Low | ) www.businessinsider.com time to read: +5 min

StoryCo founders Justin and J.P. Alanis are part of a wave of entrepreneurs building blockchain-based storytelling platforms. StoryCo raised a $6 million seed round from Web3-focused VC firms and Hollywood insiders. In other words, Hollywood studios have been gatekeepers to content — and profits — for far too long. StoryCo is one of several startups that see blockchain and Web3 technology creating big new opportunities for TV and film creatives. Passholders will have access to a project's treasury, which will include NFT sales, IP licensing revenue, and royalties.

☆ StoryCo and 'Halo' showrunner team up to launch 'Disco Ball,' a blockchain-based immersive story that's a model for Hollywood's move into Web3
▼ + stars: | 2023-01-26 | by ( Elaine Low | ) www.businessinsider.com time to read: +5 min

The blockchain-based creative platform StoryCo is launching a new immersive storytelling concept. People who sign up for a StoryPass (an NFT) can collect digital art and have creative control over "The Disco Ball." StoryCo just raised $6 million in a seed funding round led by VC firms Collab + Currency and Patron. At the end of "Disco Ball," NFT holders "will assume control over the infinitely expanding Disco Ball universe." Half of all net revenue from projects like "Disco Ball" would then be split among the treasury's members after its story writers and creators are compensated.

Justin Bieber has become the latest high-profile artist to sell his share of the rights to his music. The deal includes the publishing rights to a back catalogue that spans over 290 titles, including hits "Sorry," and "Despacito." “The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable,” Merck Mercuriadis, founder and CEO of Hipgnosis Song Management said in a statement. Bieber joins a growing body of artists, including Bob Dylan and Bruce Springsteen, in making major deals to sell the rights to their back catalogues. In January 2022, it was revealed Dylan, 81, had sold the rights to his entire back catalogue to Sony.

That mildly increases the chance of a bountiful U.S. corn crop, but a disaster cannot be ruled out. La Nina and its warm-phase cousin El Nino usually peak in strength during the U.S. winter. La Nina is on its third consecutive season, but its departure could be near. Although it varied greatly by state, U.S. farmers on average did not produce a stellar corn crop in 2022 due to drought in the west. Recent years where an early-year La Nina gave way to El Nino by year’s end include 2018, 2009 and 2006.

Ongoing drought in Argentina also enticed fund buying last week in corn, soybeans and soybean meal, forcing another managed money record in the latter. Money managers' extension of net longs in CBOT corn, soybeans and meal in the week ended Jan. 17 was the result of new gross longs, which were especially numerous in corn and beans. Managed money net position in CBOT soybean futures and optionsOpen interest in CBOT corn futures and options is at 13-year lows for the time of year after hovering a bit below average during mid-to-late 2022. Through Jan. 17, money managers boosted their net long in CBOT corn futures and options to 192,137 contracts from 149,605 a week earlier. In the last three sessions, most-active CBOT soybean futures fell 2.2%, corn fell 1.3% and soymeal shed 3.6%.

☆ I pilot NASA's first and only Mars helicopter. My job can be like a video game, but not the kind with a joystick.
▼ + stars: | 2023-01-21 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +11 min

Håvard Grip pilots NASA's Ingenuity helicopter, which has flown 40 times on Mars. I'm the chief pilot for NASA's Ingenuity helicopter, which landed on Mars with the Perseverance rover in February 2021. NASA's Ingenuity helicopter on Mars, in a close-up from the Perseverance rover's cameras. Members of NASA's Ingenuity Mars Helicopter team stand next to the Collier Trophy. How we fly a helicopter on MarsMembers of NASA's Ingenuity Mars Helicopter team at the agency's Jet Propulsion Laboratory react to data showing that the helicopter completed its second flight.

☆ NBA roundup: Lakers rally, end Grizzlies' 11-game win streak
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: +7 min

Ja Morant scored 22 points while Brandon Clarke and Tyus Jones added 20 points each for the Grizzlies. Paul George chipped in 16 points and 12 assists, Marcus Morris Sr. scored 15 points and Ivica Zubac racked up 12 points and 16 rebounds. Murray finished with 29, going 14-for-25 from the field and adding 12 assists to record his sixth double-double of the season. Domantas Sabonis contributed 18 points, 14 assists and 14 rebounds as Sacramento notched its sixth straight victory, one shy of its season high. Gilgeous-Alexander also had seven assists but couldn't prevent the end of the Thunder's four-game winning streak.

☆ Who’s Afraid of Mitch Daniels?
▼ + stars: | 2023-01-19 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

The 2024 election is already underway, and voters can be forgiven for tuning out the noise for a while. But one contest worth watching is the Republican Senate primary in Indiana, where ostensible conservatives are trying to head off a bid from Mitch Daniels , the state’s reform Republican Governor from 2005-2013. Sen. Mike Braun is vacating his seat to run for Governor of the Hoosier State, and on Tuesday GOP Rep. Jim Banks announced his Senate candidacy. Mr. Banks, who has run the conservative House Republican Study Committee, is a Navy veteran on the House Armed Services Committee and popular with the self-styled populist right. Eric Holcomb , and Mr. Daniels.

☆ P&G raises sales forecast on price hikes, sees volumes fall
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +3 min

Jan 19 (Reuters) - Tide detergent maker Procter & Gamble Co (PG.N) raised its full-year sales forecast on Thursday and said it plans to continue raising prices despite a drop in sales volumes, warning that high commodity costs were pressuring profits. While the price hikes have been met with less pushback compared to discretionary products, customers have still bought fewer of its products. P&G said organic sales in China, its second largest market, were down 7% due to COVID lockdowns and weaker consumer confidence. P&G said net sales fell 1% to $20.77 billion in the quarter, hurt by the impact of a stronger dollar on overseas revenue but beating Wall Street expectations. It's the first fall in quarterly net sales in a little over five years, according to Refinitiv data.

Brazil’s corn exports should wind down in the coming months, inviting the possibility that China turns to the U.S. market. SHRINKING SHIPMENTSThe 2022 U.S. corn crop was smaller than expected and lighter than in the two prior years, curbing export potential. 2 shipper Brazil has the United States in serious jeopardy of losing its corn crown, something many believed could not happen this soon. For context, Brazil’s corn exports first topped 10 million tonnes in the 2010-11 trade year, and they broke 26 million tonnes two years later. Brazil’s 2022-23 corn crop is seen at a record 125 million tonnes, nearly a quarter larger than the recent average.

Rep. Jim Banks, R-Ind., on Tuesday announced his campaign for the Senate seat held by GOP Sen. Mike Braun, who decided against running for re-election in 2024 and will run for Indiana governor instead. Banks, a staunch ally of former President Trump, is the first candidate to enter the Senate race. Mitch Daniels if he jumps into the Senate race. Banks’ Senate campaign is endorsed by Rep. Larry Buschon, R-Ind., Sen. Tom Cotton, R-Ark., state Rep. Michelle Davis and state Sen. Justin Busch. After Pelosi rejected Banks and Rep. Jim Jordan of Ohio, McCarthy ultimately withdrew all five names.

Most-active CBOT corn futures had declined more than 2% through Jan. 10, and CBOT soybeans fell fractionally. Corn and soybean futures both rose about 3% from Wednesday through Friday. However, strength in corn and soy, along with much lighter-than-predicted Dec. 1 U.S. wheat stocks, allowed CBOT wheat to rise 1.6% in the last three sessions. The managed money net short in Minneapolis wheat futures and options decreased slightly through Jan. 10 to 2,704 contracts. wheat futures and optionsKaren Braun is a market analyst for Reuters.

☆ How WWE’s Vince McMahon ruthlessly got his job back despite allegations of sexual assault and misuse of company funds
▼ + stars: | 2023-01-14 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +12 min

WWE has always been a family business – Vince McMahon, Sr., handed over the reins to his son in the 1980s – and it seemed set to continue that way. Why was Vince McMahon stepping aside such a big deal? Vince McMahon was more akin to a king than a business executive in the world of WWE, his fingerprints on everything. Once considered a wrestling genius, critics have more recently come to consider Vince McMahon a creative liability. McMahon,” Vince McMahon’s devious on-screen character, who served as wrestling’s greatest heel for years in the late 1990s and early 2000s.

Harvested corn acres were primarily lost in western states including Nebraska, Kansas and South Dakota, where drought hit hard this summer. Corn yield came in 0.8 bushel above the average trade guess, which is analysts’ worst performance in the 2022 season. The best analog for 2022 corn production may be 2002, which also featured a western drought. WHEAT AND SOY MISSESDec. 1 U.S. soybean and wheat stocks were both the most bullish versus market predictions since at least 2005. Wheat stocks came in 5% below trade guesses and soybean stocks were 3.6% below.

The ever-important U.S. corn crop may be most primed for a market miss due to an alarmingly low range of guesses. YIELDSAnalysts’ range on U.S. corn yield is a seven-year low and for soybeans it is at least a 13-year low. U.S. farmers did not have a banner corn crop primarily because of drought in western areas. The 2021 corn yield last January was unchanged from November, but otherwise the trade is looking for the smallest January move in corn yield in 14 years. Argentina’s corn crop is seen falling more than 5% to 52 million tonnes from 55 million in December.

The United States was gripped by a frigid Arctic blast in late December, affecting transportation and commerce. The U.S. Department of Agriculture already projects 2022-23 U.S. wheat exports at a 51-year low of 21.1 million tonnes (775 million bushels). That volume is 26% lower than in 2016-17, the last time the United States was the world’s leading wheat exporter. Through the first half of 2022-23, which began on June 1, U.S. wheat exports covered 54% of USDA’s December forecast. U.S. wheat supplies have contracted after two disappointing harvests, driven by both low area and yield.

CORN, SOY, WHEATCBOT corn, soybean and wheat futures declined notably on Jan. 3, the first trading day of 2023. Through Jan. 3, they cut about 3,500 contracts from their stance, resulting in a net short of 52,715 CBOT wheat futures and options contracts. Investors may have reduced CBOT corn length late last week with futures down 2.5% between Wednesday and Friday. Most-active CBOT soybean futures were unchanged over the last three sessions given the poor conditions in Argentina and possibly unfavorable weather in Brazil’s southernmost state offsetting U.S. demand concerns. They expect U.S. corn, soy and wheat ending stock estimates to rise along with Brazilian corn and soy crops, though a sizable decline is predicted for Argentina’s harvests.

☆ Fantasy football leagues in limbo donate pots to support Damar Hamlin
▼ + stars: | 2023-01-07 | by ( Jennifer Korn | ) edition.cnn.com time to read: +3 min

Some leagues have decided to forgo determining champions and instead donate their pots to Hamlin’s charity via GoFundMe. “[A] lot of fantasy football leagues are donating their prize pots to the fundraiser. “What an awesome way to handle a unique end to championships — unselfishly.”Hamlin’s two-year-old GoFundMe page topped $7.7 million in donations as of Friday morning. “The unfortunate events surrounding BUF-CIN Monday night have left many Fantasy Football leagues in a bind,” wrote Braun, himself a fantasy league commissioner, on the site. Released Wednesday, the calculator may help clear up some of the confusion fantasy leagues face as players struggle to determine winners without points from Monday night’s game.

Most-active corn futures’ worst recent January performance came in 2010 with a plunge of 14%, and most-active soybeans suffered the same fate that year, falling 13% during the month. That happened in January 2010, when decently bullish speculators heavily sold corn and soy futures in the weeks after the USDA report. Corn & soy futures in JanuaryUSDA INFLUENCEThe January trend in CBOT corn and soybean futures usually mimics price action on the month’s U.S. Department of Agriculture report day, so long as futures move by at least 1% on that day. But corn and soy futures have been uncharacteristically quiet on January report days in the last few years, making it harder to anticipate the trend going forward. January 2021 was the last time most-active corn futures spent more than one day below $5.

A Utah man fatally shot his family of seven in a home Wednesday and then himself, authorities said. A home where eight people were found dead in Enoch, Utah, on Jan. 4, 2023. Enoch City Mayor Geoffrey Chestnut said the incident has shaken the tight-knit community of about 7,500 residents. Enoch City Police Chief Jackson Ames said police had been involved with some investigations with the family a couple of years prior, but declined to elaborate. A law enforcement official stands near the front door of the Enoch, Utah, home where eight family members were found dead from gunshot wounds, on Jan. 4, 2023.

☆ China's COVID situation is worrying, says French health minister
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: 1 min

PARIS, Jan 5 (Reuters) - The situation regarding COVID infections in China is "worrying", the French health minister said on Thursday although he added that pressure on France's hospitals regarding COVID was easing. European Union member states on Wednesday agreed to introduce some safety measures with regard to travellers from China, as the bloc's crisis response group recommended that passengers flying to the EU should have a negative COVID-19 test before they board. "We're declining considerably, including with regard to people in hospital, but what's going on in China is worrying", France's Health Minister Francois Braun told France 2 television. Reporting by Tassilo Hummel; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

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