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
Futures

October 18th - Midday Market Commentary

10/18/2021
October 18th - Midday Market Commentary

Grains are higher at midday:

Dec Corn + 7 cents/bu (5.32 ¾ )

Nov Soybeans + 7 cents/bu (12.24 ¾ )

Dec Chi Wheat + 2 ¼ cents/bu (7.36 ¼ )

Cdn $ +0.00130 (80.875 cents)

WTI Crude Oil +0.01/barrel (82.29)

Grains initially traded lower this morning, as US harvest pressure and the lack of any new USDA Flash Sale announcements weighed on prices early.  However, once the weekend harvest hedge pressure eased, grain prices gradually strengthened.

This morning, the USDA released their Weekly Export Inspection Report, showing higher than expected shipping last week for both corn and soybeans.  Wheat exports however were dismal.  Of the 84.4 million bushels of soybeans exported, 62.9 million bushels were shipped to China.  Of the 38.4 million bushels of corn exported, 5.6 million bushels went to China.  No wheat was shipped to China.  Export inspection data is listed below:


With inflation and strength in outside commodities supporting grain prices today, the market is also paying attention this morning to the high cost of crop inputs.  Corn is benefitting from fears that acreage/production might fall due to the high cost of growing the crop, while beans are supported by thoughts that even if acres increase, demand for bean oil is very robust.

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.
Privacy Policy