3/2/2021

Mar 02, 2021


3/2/2021
Weaker trade overnight in both corn and beans turned strongly higher in our day session on what could be best described as the buying simply outweighed the selling today.  We were able to recover a good portion of Monday's losses with corn and beans both settling in the middle of their 3-week trading ranges.  We did have a daily export sale announcement this morning of 175,000 tonnes of corn to Japan for the 2021/2022 marketing year.  This is the first daily export sale announcement since February 12 and we have no seen China as a flash buyer since January 29.  The United Kingdom announced that it will double the amount of ethanol blended in motor fuel from 5% to 10%.  This should be friendly long term for both ethanol and corn demand.  Some parts of Brazil received excessive rains overnight, with one isolated area receiving 10" of rain.  It is too early to know if the high amount of precipitation will result in any significant crop damage.  Overall, weather leans friendly for soybeans.  Argentina continues to see increased drought stress and the US drought monitor has seen little-to-no improvement over the past couple weeks.  Continue to evaluate your operation's risk and set new crop pricing goals accordingly.  In terms of market, this spring will be interesting.

Read More News

Apr 24, 2024
Profit taking was the feature of corn and soybean trade after corn rallied 20 cents and soybeans rallied 46 cents over the past week.  Spread correction was also seen today with May price spreads widening back out 1-2...
Apr 23, 2024
After struggling a bit on the tail end of overnight trade, corn and soybeans traded steady higher and looked their most firm heading into today’s close. After chugging higher for a third consecutive day, we viewed some more...
Apr 22, 2024
Some really nice follow-through after Friday's recovery resulted in some key technical signals for trade. Each pullback throughout the day was met with some fast buying. Corn and soybeans followed wheat's lead. Wheat...