MARKET COMMENTARY

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Morning Comments; Thursday, August 5, 2021

Grains are trading mixed on the overnight session. A wetter forecast is in the near future, putting more pressure on the Ag markets. No worries, as of now, about any yield reductions with the trade looking at a good chance for large areas of crop production. The USDA will report...

Closing Comments; Wednesday, August 4th, 2021

Soybean markets found support from the veg oils and palm oil running back up. Corn was pressured by the 8 to 14 day forecast showing rain in the central and eastern Corn Belt. Ethanol production for the weekending July 30th decreased 1,000 barrels per day to 1.013 million barrels per...

Morning Comments; Wednesday, August 4th, 2021

Grain markets are higher on the overnight trade. China’s Sinograin plans to auction off close to 50k tonnes of corn imported from the Ukraine and 220k tonnes of corn imported from the U.S. this week. Weather continues to be a big factor in the markets. Currently 64% of the corn...

Closing Comments; Tuesday, August 3rd, 2021

Markets traded in the red throughout the day, with soybeans leading the way. Soybean crop ratings improved 2 points dragging the bean market lower, with both corn & wheat following. Well-known crop scout, Dr. Cordonnier dropped his total corn production by 2 MMT to 84 MMT for Brazil. He also...

Morning Comments; August 3, 2021

Grains are trading lower on the overnight session. Crop condition ratings this week were estimated to be lower for both corn and soybeans. Corn condition ratings fell 2 points to 63% good/excellent. Corn silking is now at 91% this week compared to 79% last week, and quite a few points...

Closing Comments; Monday, August 2nd, 2021

Bayer announced they’ve decided to suspend soybean seeds and biotechnology business in Argentina as of the 2021/22 season. The company still plans on continuing their corn, crop protection and digital agriculture business in Argentina. Bayer plans to move investments towards profitable and innovative projects such as the Orbia digital platform...

Closing Comments: Friday, July 30th, 2021

Cooler temperatures, light rain, and technical selling pressured the grain markets throughout the day. As global supply issues continue to be of concern, the wheat market spent today’s session bouncing around either side of unchanged, eventually ending slightly in the red. Soybeans ended deep in the red, while corn markets...

Weekly Review; Friday, July 30th, 2021

Weekly Review Volatility shows no sign of subsiding anytime soon. Erratic weather forecasts have traders monitoring each model run, sometimes resulting in double-digit swings in market values from one update to the next. Extreme heat and drought conditions continue to plague the Western growing regions, while near perfect conditions across...

Morning Comments; Friday, July 30th, 2021

Corn, soybean, and wheat values are lower in early trade. The wheat complex has garnered much of the attention in the Ag markets this week. The latest drought monitor showed that 99 percent of the spring wheat crop is in some classification of drought. With these conditions, it was not...

Closing Comments; Thursday, July 29, 2021

The Ag markets reacted today with higher trade as some cooler temperatures are forecasted for the rest of the week. Adverse weather will continue to be a worry as we go into a critical month for determining the soybean yield. Choppy trade can be expected in the weeks to come...

Morning Comments; Thursday, July 29, 2021

Corn and Soybeans are higher on the overnight trade. We are still involved in a major growing season, with the next few weeks of weather telling the big story. A storm brewing mostly centered in Wisconsin through this morning could affect the northeastern corn belt with some damaging conditions. Rain...

Closing Comments; Wednesday, July 28th, 2021

Ethanol production for weekending July 23rd decreased 14,000 barrels a day to 1.014 barrels per day with the Midwest region showing the only decrease. Ethanol stocks increased 215,000 barrels to 22.7 million barrels. Corn used to produce ethanol used an estimated 100.4 million bushels, down from last week’s 101.8 million...

Morning Comments; Wednesday, July 28th, 2021

Corn and soybeans are lower on the overnight trade. Corn and soybean markets started yesterday out stronger on lower than expected crop conditions. However, markets fell back due to cooler weather forecasted in early August. Corn crop conditions saw some notable changes with Iowa dropping 3% to 65% good to...

Closing Comments: Tuesday, July 27th, 2021

Crop conditions ratings from yesterday’s report and volatile weather forecasts were in the driver’s seat of today’s markets. With a lot left at stake for this year’s maturing crop, all eyes will be on the weather models for days and weeks to come. Almost all forecast models agree there will...

Morning Comments; Tuesday, July 27th, 2021

Grains are trading mixed on the overnight session. Crop condition ratings for the week were neutral to slightly poorer. Corn condition ratings fell 1 point to 64% good/excellent. The states most effected by the drought in Minnesota and the Dakotas are struggling to keep even 1-2% in the excellent category....

Closing Comments: Monday, July 26th, 2021

Corn and soybean values were on both sides of unchanged in today’s trade. As the month of July comes to an end, trade will more closely monitor August weather forecasts and the effects on the maturing soybean crop. Soybean futures were on both sides of unchanged as a result. Forecast...

Morning Comments; Monday, July 26th, 2021

Grains are trading lower on the overnight session. Grains will be focused on changes in weather models as they trended cooler for the 11-15 day period. While temperatures will be warm this week for much of the Corn Belt, most of the damage looks to be isolated to the area...

Closing Comments; Friday, July 23rd, 2021

Corn, soybeans and wheat all finished the week under pressure. Forecasts continue to be the driving force in market direction, with midday forecasts trending cooler. Weakening processor bids are also pressuring soybean futures. This week, a bipartisan bill called the “Corn Ethanol Mandate Elimination Act” was introduced by Senators in...

Weekly Review; 07.23.21

Weekly Review Wheat and soybeans have been in the driver’s seat of the grain trade lately. The northern Plains drought conditions has had an extreme impact on the spring wheat crop. All three wheat classes have seen large price increases in recent weeks as global weather shrinks crop potential. Issues...

Morning Comments; Friday, July 23rd, 2021

Corn, soybeans and wheat values are lower in early trade. Improving weather outlooks following the recent run up in the Ag commodities prompted traders to take profit in yesterday’s trade. Overnight weather models disagreed Wednesday night, with the Euro pointing wetter than the GFS. The Euro model showed the high...

Closing Comments; Wednesday, July 21st, 2021

Ethanol production for the week ending July 16th decreased 13,000 barrels per day to 1.028 million barrels per day, with the Midwest region showing the only decrease. Ethanol stocks rose 1.4 million barrels to 22.5 million barrels. An article by Reuters stated a bipartisan group of U.S. senators introduced legislation...

Morning Comments; Wednesday, July 21st, 2021

Corn is higher while soybeans are lower on the overnight trade. The markets found support yesterday from the extended forecasts showing dry weather concerns for a majority of the U.S. soybean crop over the next 2 weeks. Even though soybean crop ratings rose 2% to 60% good to excellent this...

Closing Comments; Monday, July 19th, 2021

The massive drop in crude oil futures fueled the sell-off in the corn and soybean markets in today’s trade. The increasing global COVID infections also pressured Wall Street today as traders fear the economic impact of the Delta variant. Soybeans felt the most pressure from the large decline in soybean...

Closing Comments; Friday, July 16th, 2021

Wheat futures were the leader in today’s trade. Significant production issues are being reported across many wheat producing areas, not just the U.S.  Emerging issues and this week’s large production decline by the USDA are creating the sentiment that rationing is warranted.   Forecasts calling for hot and dry conditions across the...

Weekly Reivew; Friday, July 16th, 2021

Weekly Review The updated domestic corn balance sheets were mostly as expected in Monday’s release.   The USDA incorporated the acreage figures from the June report, publishing corn acres at 92.7 million.  As expected, the yield forecasts were left unchanged at 179.5 bushels per acre, for a production estimate of 15.165...

  
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