2/12/2021

Feb 12, 2021


2/12/2021
Glacial Plains will not be purchasing grain on Monday, February 15, 2021. The markets are closed in observance of President's Day. We will gladly take a sell order to work on your behalf for the 7 p.m. market open on Monday night.
Corn and bean trade was higher overnight on lighter volume. Most of those gains were given up shortly after the 8:30 opening, with corn trading close to a nickel lower and spending most of the day fighting its way back. We did have a small string of daily export sales for corn totaling 9.9 million bushels announced this morning; 135,644K tonnes to Costa Rica for 2020/21, 59,964 tonnes to Costa Rica for 2021/22, and 115,577 tonnes to Guatemala. In terms of news to move the market, today didn't offer anything we did not already know. To review of the week, marketing year-to-date corn export sales at 87% of the total USDA forecast are supportive but we still have a lot of corn to ship. Argentine corn is currently a 20 cent/bu discount to US, if that discount improves, cancellations of unshipped corn wouldn't be a surprise. South American soybean production forecasts see small, steady increases after their recent precipitation. Peeking at the calendar, our next report to trade will be the NOPA bean crush report, due out next Tuesday. Stay warm this weekend, Spring is just around the corner.

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