Notice: Using Internet Explorer may cause some issues with loading dynamic content such as Cash Bids. Please use a modern browser such as Edge, Firefox, or Chrome.

Dynamic Weather Icon for Today's Forecast
Weather N/A

December 22- Closing Market Commentary

12/22/2021
December 22- Closing Market Commentary

Grains are in the green to close:

Mar Corn +4 1/4 cents/bu (6.02 1/2)

Jan Soybeans + 20 3/4 cents/bu (13.28 3/4)

Mar Chi Wheat +15 cents/bu (8.14)

Currently:

Cdn $ +0.00525 (77.89 cents)

WTI Crude Oil +1.78/barrel (72.90)

Corn has broken the technical resistance at $6.00 and Soybeans at $13.00 (above the 200 day moving average) as they find continued interest. Speculative money and technical investors are supporting the market today as strong demand continues to support ethanol, soymeal and soyoil, coupled with the potential of a crop failure due to dryness in South America.

The EIA Report was released today for the week ending December 17th. Crude oil stocks dropped 7.3 million barrels to 1020.0 million barrels. Ethanol stocks decreased 0.2 million barrels to 20.7 million barrels. Ethanol production had a major drop down 36 thousand barrels per day to 1,051 thousand barrels per day, however it is up from 976,000 barrels per day, the same week last year. Estimated marketing year corn use to date for the production of ethanol totals 1.578 billion bushels, up 66 million or 3.7% from the previous year's pace

The Export Sales Report is due out tomorrow for the week ending December 16th. Estimates are below. The trade is anxious to see the results. China made a lot of daily soybean purchases earlier this month, but its buying has been largely absent the past 2 weeks.

Funds are thought to have been all buyers.

Grain trading Holiday hours are listed below. 

Your choice regarding cookies on this site:

We use cookies to optimize site functionality and give you the best possible experience.
Privacy Policy

Your choice regarding cookies on this site:

We use cookies to optimize site functionality and give you the best possible experience.