9/20/2021

A sea of red across the markets and exchanges with a macro risk-off day to start the week.  Most commodities, including grain, coffee, and livestock, saw some significant losses throughout the day.  Stock indexes also suffered from a sell-off.  As of about 1:20pm, the DOW was trading down 850 points, the NASDAQ down 430 points, and the S&P down 105 points.  There was no daily export sale announcement from the USDA this morning.  China is currently on a holiday so most aren't surprised but anything announced this morning would have most likely been purchased Thursday or Friday last week.  Export inspections perked up last week, meaning terminals in the gulf are coming back into service after Hurricane Ida left many of them damaged.  Volumes were still within trade range estimates but it was good to see that export capacity is recovering.  Last week, 403k tonnes of corn, 275k tonnes of soybeans, and 563k tonnes of wheat were inspected for export.  Locally, soybean harvest is just beginning to ramp up and early reports average in the 50-55 bushels per acre range.  Renville area reported some soybeans in the 60-70 bpa range.  No specific numbers on early corn yields in our area but has been "better than expected."