MARKET COMMENTARY

Morning Comments; Tuesday, June 22nd, 2021

Corn and soybeans are trading lower while wheat is higher on the overnight session. Crop condition ratings fell for the third consecutive week to no one’s surprise as rainfall totals have been less than anticipated and very sporadic in nature.  The eastern parts of the Corn Belt remain ample while...

Closing Comments; Monday, June 21st, 2021

Corn, soybeans and wheat were mixed much of today’s session with soybeans and wheat higher and corn lower. Better than expected rainfall across areas of the Corn Belt, mainly the east and south pressured corn values. Soybeans benefitted from the return of Chinese buying and thoughts that last week’s sell off was...

Morning Comments; Monday, June 21st, 2021

Grains are trading lower on the overnight session. Weather continues to keeps the volatility and pendulum swinging which looks to continue to be that way.  Reactions to weekend rainfall totals will be the driver to start the week.  Friday’s rebound came after forecasts weakened for rainfall totals.  The latest 6-10...

Closing Comments; Friday, June 18th, 2021

Corn, soybeans and wheat were sharply higher in today’s trade as values corrected from yesterday’s large selloff.  Overnight rainfall mostly disappointed, but chances remain for the weekend.   This weekend marks the first big weather event of the year.  All focus will be on rainfall totals and updated forecasts. Ukraine officials...

Weekly Review; Friday, June 18th, 2021

Weekly Review It’s all about the weather. The assumption is rain for the Midwest.  Now, how much will that be and how far will that go?  How long will it last, and how severe will it get?  There are some different weather models forecasting this moisture, increasing the volatility in...

Morning Comments; Friday, June 18th, 2021

Corn, soybeans and wheat are correcting from yesterday’s sharp losses. Yesterday marked one of the largest daily commodity selloffs in history.  Corn futures closed limit lower on several contract months. Soybean futures we able to trade beyond the dollar daily limit after soybean oil futures closed limit lower on Wednesday,...

Closing Comments; Thursday, June 17, 2021

Huge losses in the Ag commodities today.  A weather market along with news of potential policy changes from the Biden Administration on biofuels and blending requirements have added pressure to the soybean sector.  The entire soy complex was under fire as soyoil futures have moved in a drastic decline, expanding...

Morning Comments; Thursday, June 17, 2021

Grains are trading lower on the overnight session. It’s all about the weather. The assumption is rain for the Midwest. Now, how much will that be and how far will that go?  How long will it last, and how severe will it get?  There are some different weather models forecasting this moisture,...

Closing Comments; Wednesday, June 16th, 2021

An unknown destination purchased 153,000 metric tons of corn for delivery during the 2021/22 marketing year, which will start September 1st.   Ethanol production for the week ending June 11th dropped 42,000 barrels per day to 1.025 million barrels per day, with the largest decrease coming from the Midwest region....

Morning Comments; Wednesday, June 16th, 2021

Grains are mixed on the overnight trade. The improved weather forecasts seemed to outshine the declined crop conditions yesterday, as there is talk of parts of the Midwest & Northern Plains looking to receive rains.  China intends to auction off some of the corn imported from the Ukraine, in an...

Closing Comments; Tuesday, June 15th, 2021

The corn, soybean and wheat markets were all unfazed by the larger than expected rating declines in yesterday’s progress report. Market focus continues on the wetter and cooler weather forecasts for the Midwest, pressing new crop values lower.    The persistent dryness across the Dakota’s has been noted for the...

Morning Comments; Tuesday, June 15th 2021

Grains are trading mostly lower on the overnight session. Forecasts for rain over the Midwest and Plains hammered the grain complex yesterday.  Traders were expecting a 2-3% decline in crop ratings after the close and ratings again fell nearly twice as much as expected for both corn and soybeans.  Corn...

Closing Comments; Monday, June 14th, 2021

Overnight weakness carried over into today’s trade for corn, soybeans and wheat. Updated weather forecasts showing improving conditions ahead for much of the Midwest were the main driver in today’s session. Concerns of weakening biofuel demand following last week’s announcement also pressured values.  Hot and dry conditions are expected most...

Morning Comments; Monday, July 14th, 2021

Grains are trading sharply lower on the overnight session. Weekly crop condition ratings this afternoon expected to drop 2-3% as dry weather conditions persist for most of the Corn Belt.  Weather models continue to disagree on moisture.  Most of the moisture is for the eastern Corn Belt, with one model...

Weekend Review; Friday, June 11th, 2021

Weekly Market Review Planting and crop progress released for the week ending June 7th were friendly for both corn and soybeans.  Corn condition ratings fell twice what the trade expected by 4% to 72% good/excellent.  It was a mixed bag in terms of condition changes by state, with no one...

Closing Comments: Wednesday, June 9th, 2021

Ethanol production for the week ending June 4th increased 33,000 barrels a day to close to 1.1 million barrels per day, with the Midwest region showing the only increase. Ethanol stocks increased 372,000 barrels to 19.9 million barrels, with the Midwest region showing the largest increase.  June continues to be...

Morning Comments; Tuesday, June 8th, 2021

Grains are trading higher on the overnight session. Planting and crop progress released yesterday after the close were bullish for both corn and soybeans. Corn condition ratings fell twice what the trade expected by 4% to 72% good/excellent.  It was a mixed bag in terms of condition changes by state, with...

Morning Comments; Monday, June 7th, 2021

Grains are trading higher on the overnight session. Weather forecasts changed Friday afternoon, with more of the same in last night’s update calling for heat and a lack of rain in the northern Plains and northern Midwest.  While the models do not agree and the GFS model calls for some...

Closing Comments; Friday, June 4, 2021

Double digit gains made today across the board, with soybeans leading the way, on weather worries and fear of global shortages. Soybean Oil set new highs this week as futures climbed above the all-time highs of 2008.  Current cash soybean oil prices are nearly triple the levels of one year...

Weekly Review: Friday, June 4th, 2021

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Closing Comments; Thursday, June 3rd, 2021

Double digit gains were made in soybean futures on the overnight session, along with new contract highs in the soybean oil markets, but did not hold its strength long after the day trade started.  Weather concerns and strong international demand for vegetable oil, with increasing fuel prices, helped hold some...

  
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