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Futures

May 7th- Morning Market Commentary

05/07/2021
May 7th- Morning Market Commentary

Grains are higher again overnight:

Corn + 4 cents/bu (July @ 7.22 3/4)

Soybeans + 12 ¾ cents/bu (July @ 15.82 1/4)

Chi Wheat +7 1/2 cents/bu (July @ 7.60 3/4)

Cdn $ +0.00170 (82.255 cents)

WTI Crude Oil -0.28/barrel (64.44)

The grain rally continued overnight as there was nothing to stand in the way of the bulls. What will it take for the markets to falter? Today we have the CFTC Report coming out after the close, and next Wednesday we have the USDA’s month Supply and Demand report set to be released. The rest of the day is expected to be fairly quiet, so we will see what happens!!

Estimates for the S&D Report are below.

A little Friday funny seen on Twitter… 

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