1/21/2021

Jan 21, 2021


1/21/2021
Today was a very quiet day as the markets were higher on the overnight, but faded back near unchanged out of the coffee break this morning.  More business got done overnight, but the markets didn't seem to care.  More old crop beans too which surprised me a bit.  136,000 mt of soybeans to China 20/21, 163,290 mt of soybeans to Mexico 20/21, 336,500 mt of corn to unknown 20/21, and 138,000 mt of HRW wheat to Nigeria for 21/22.  Corn and bean bids remain strong out in April, May, June, July.  The front end remains weak as there is enough grain moving to cover the markets needs thru March.  In Brazil, conditions are still be mostly good for crops. There are a few exceptions including northeastern areas that will continue to be too dry, especially from central Minas Gerais through Bahia. In Argentina, rain is still likely to increase in the nation this weekend and especially Monday and Tuesday of next week. The rain will provide some relief from this week’s heat and dryness.  There is definitely some damage that is done, but the rain helps for those crops in pollination stage.  Informa was out today and had corn at 94.244 million acres vs 90.819 last year, soybeans acres at 90.08 million vs 83.084 last year, and other sp wheat 11.490 million vs 12.25 last year.  That gives a you something to think about heading into March intentions.
 

Read More News

Jul 18, 2024
Another day of tough sledding for corn. There was some brief trade to 1 higher but we quickly went backwards into negative territory, closing just above the current contract lows. Soybeans were lower overnight and then...
Jul 17, 2024
It was a fast start to trade overnight with corn making a little surge to trade 3-5 higher and soybeans 7 higher.  Corn was able to hold on to improve 2-3 cents on the day but soybeans swung all the way back to the red side of...
Jul 16, 2024
Soybeans are now priced off of the November futures.  Corn and soybeans enjoyed a day of higher trade and posted modest gains of 2-5 cents.  The weekly crop ratings report was unchanged from the previous week with...