10:30 a.m. Market Snapshot | May 27, 2021

Corn futures rose sharply at midsession, with July contracts up about 34 cents and December is 24 cents higher. Both contracts have pared most of this week’s decline.

Another week of outsized corn export sales, driven by known business to China

China bought a total of 5.812 MMT of corn the week ending May 20, with 5.644 MMT of those purchases being new-crop.

sunrise test plots weather
First Thing Today

Argentina's port strike came to an early end. USDA hiked its ag export forecast, reminding of China's aggressive buys and the Phase 1 trade deal. USTR Tai talked with her Chinese counterpart yesterday.

10:30 a.m. Market Snapshot

Corn futures are trying to rebound mid-morning.

Another strike at Argentine ports underway as Covid-19 spreads

Argentine port workers launched another 48-hour strike at midnight as they continue to push to be designated essential workers so they can receive Covid-19 vaccines.

USDA seeking proposals for quantifying climate benefits of CRP

FSA will invest $10 million to measure and monitor the soil carbon sequestration and other climate and environmental benefits of conservation practices over the life of CRP contracts

sunrise test plots weather
First Thing Today | May 26, 2021

Corn struggled to rebound overnight. Meanwhile, another strike is underway in Argentina and China took more steps to tighten its control on commodities.

Food prices continue to rise

The all-items consumer price index climbed 0.8% from March to April, with the gauge of economy-wide inflation now up 4.2% from year-ago levels, according to USDA’s Economic Research Service.