6/14/2021

Jun 14, 2021


6/14/2021
With another hot, dry, and breezy weekend close to being put in the rear view, market indicators were pointing towards a sharply higher open for Sunday night.  Yesterday, updated weather models were released late afternoon showing a possible 1-2" of rain across the majority corn belt in the 7-10 day outlooks and, even without a drop hitting the ground, the market was down hard immediately at the open, with Dec corn trading near limit lower within the first half hour of the session.  I think it is important to note here that, on this past Friday, there was rain forecasted 7 days out that is no longer there.  I would expect a bounce back as a few more days with temps in the 90's, and possible 100's, are expected and we actually need the rain to fall to keep this much pressure on the market.  Trade is also expecting crop conditions to decline in the weekly report.  Weekly export inspections for last week were on the low end of the trade estimate range for corn, reported at 1.544 mln tonnes.  Soybean inspections were below expectations, at 128k tonnes vs the 150k tonnes estimate minimum.  The NOPA crush report for May is set to be released tomorrow with trade estimating 165.12 mln bushels crushed last month.  This highly volatile market is sure to continue.

Read More News

Nov 27, 2023
Corn and soybeans begin the week down as lower continues to be the path of least resistance. Grains as a whole were largely weaker with wheat double-digits lower and corn finishing with 5-7 cent losses and new 2 1/2...
Nov 22, 2023
Once again, soybeans were the price leader but trade was in heavy risk-off mode in soy.  Corn and soybeans bounced around between 1-3 cents lower overnight before selling took over after the morning break.  Rains...
Nov 21, 2023
January soybeans have now traded a sixty-cent range over the past two days which includes their lowest quote since November 3 and also trading within a dime of the 3-month highs set just last week.  Today's session...