Grains are lower at noon:
Corn – 4 3/4 cents/bu (Mar @ 5.21 1/4)
Soybeans – 18 cents/bu (Mar @ 13.67 3/4)
Chi Wheat – 3 ½ cents/bu (Mar @ 6.69 1/4)
Cdn $ +0.00550 (79.11 cents)
WTI Crude Oil +0.39/barrel (53.37)
2021 Wanstead Farmers Co-operative Annual Meeting
This is a reminder about Wanstead’s virtual AGM being held tomorrow, Thursday, January 21st at 10am. To register simply send an e-mail to: agm-registration@Wansteadfarmerscoop.com and include your name and address, if you can include your customer ID that would be helpful. You can click on the e-mail address to get started, our website also has a register button on it you can use to register. Once registered you will receive a personalized link to join the meeting, simply double click on this link. Should you have any issues registering please call your local branch and let them know and they will take your information to get you registered.
Today is inauguration day in the U.S. with the transition of presidential power shifting from Republican Donald Trump, to Democrat Joe Biden. The stock market has been holding strong, reflecting confidence around a peaceful transition of power.
Funds are selling off some positions in grains, especially soybeans. However, bulls are insistent that this pullback is healthy for a long-term upward trend.
International news headlines continue to drive market movement today including:
-South American Weather that is continuing to put strain on the soybean markets.
-Brazil anticipating that they will be able to plant all of their double crop corn this year, although planting will be later than the ideal time frame.
-The ongoing Argentine trucker strike, as well as Brazil expected to strike in February
-Ukraine debating whether to limit corn exports