News
After the Bell | June 22, 2021 Spring wheat futures rallyon crop ratings slide, Midwest weather outlook burdens corn and soybeans.
Frozen pork stocks stood at 461.14 million lbs. at the end of May, which was a 4.22-million-lb. (0.9%) build from April versus the usual 34-million-lb.-retreat for the month.
More than a year later, we need to get back to normal because we need to start repairing 15 months of broken connections, writes Cherilyn Jolly-Nagel with Global Farmer Network.
Ahead of the Open | June 22, 2021 Spring wheat futures seen up sharply on crop rating plunge, corn and soybeans weaker on Midwest weather.
Spring wheat soars amid a dive in condition ratings. Cordonnier sticks with his U.S. crop estimates, but he cut Brazil’s corn crop. Farm-state lawmakers want biofuel provisions to be wrapped into infrastructure package.
Spring wheat ratings plummeted, and corn came in lower than expected. Find more highlights from today’s weekly Crop Progress and Condition Report here.
The spring wheat CCI rating is now 91.1 points below its five-year average.
After the Bell | June 21, 2021 Soybean futures rally on China purchases, corn lower on Midwest rains, hogs extend slide.
Refinitiv Commodities Research says trade flow data signals China will likely import 11.6 MMT of soybeans during June, which would be an all-time monthly high.
Find more updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Corn inspections were also solid, with last week’s tally revised roughly 66,500 MT higher.
Grain and soy futures are under hefty pressure to start the week in response to weekend rains. Live cattle futures are quite as hog futures extend recent losses.
Grains, soybeans expected to drop sharply as weekend rain aids Midwest crops.
Midwest rains are weighing on grain and soy futures. Chinese imports of Brazilian beans picked up in May. And Biden’s opposition to a gas tax proposal and Democratic infighting could derail latest infrastructure effort.
Davis Michaelsen brings in the big guns and talks with Chip Flory after a wild week of trade...
After the Bell | June 18, 2021 Corn, soybeans surge amid lingering Midwest dryness, cattle up on firm cash market.
China’s state-owned importers bought at least eight cargos (480,000 MT) of U.S. soybeans, today, two traders familiar with the deal toward Reuters. And that tally could climb even higher.
We project total corn and soybean plantings at a record 182.3 million acres, which is the exact total we estimated in March and would be up 8.4 million acres from last year and 2.0 million acres more than the 2017 peak.
A weather market is in full swing, with commodities diving the past week. Inside this week’s letter you’ll find plenty of updates on the forecast, crop conditions (crop comments are back!) and Washington happenings.
Ahead of the Open | June 18, 2021 Grain, soybean futures expected to open sharply higher as Midwest dryness concern lingers.