Grain > Commentary > 8-27-2021

8/27/2021

Aug 27, 2021

8/27/2021
Today was a very quiet day heading into the weekend.  We did have a couple more sale announcements this morning.  129,000 metric tons of soybeans for delivery to China and 150,000 metric tons of corn for delivery to Colombia.  The US dollar was down about 400 tickets today, which is supportive to the grains.  Old crop basis continues to slowly leak towards new crop values, so if you have old crop left to sell now is the time before that premium is gone.  What was once a 90 cents premium a month ago is now a 30 cents premium on the bid sheet today.  Don't give that premium up.  For the week December corn futures were up 16 cents and bean futures were up 33 cents.  Harvest is quickly approaching as next Wednesday is already the 1st of September.  Seasonally this is not a time for a market rally, so I would expect sideways to lower trade next week to finish out the month of August.  We will have a full week of trade next week with a 3 day weekend for the Labor Day Holiday.    Have a good weekend!   

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