Corn export inspections hold above 1.5 MMT

Wheat inspections were near the upper end of expectations and last week’s tally was revised 75,091 MT higher versus what was initially reported. Soybean inspections, on the other hand, were even lighter than expected.

First Thing Today | June 14, 2021

Rains for the dry Northern Plains and western Corn Belt are expected to be erratic the next two weeks, with warm temperatures likely to persist. Nevertheless, grain and soy futures are under heavy pressure.

IHS Markit pares U.S. corn planted acreage outlook

Private analytics firm IHS Markit trimmed its 2021 U.S. corn planted acreage estimate by 310,000, dropping it to 96.54 million acres, which is still above most private forecasts.

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First Thing Today | June 11, 2021

Delaware lawmakers are pressing EPA to ease refiners’ blending obligations. A bipartisan group of Senators delivered a new infrastructure proposal. And NCBA wants USDA to scrap "Product of the USA labels."

corn harvest
Conab slices 10 MMT off its Brazilian corn crop peg

Conab now estimates Brazil's total corn crop at 69.96 MMT. That compares to USDA at 98.5 MMT.

dry drought ground
Drought worsens in Upper Midwest

The Dakotas saw a mix of drought improvement and drought degradation, but today's update didn't fully account for this week's rains.

USDA slashes already tight U.S. corn ending stocks for both marketing years

Cotton and wheat carryover also came in lighter than expected.