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Ahead of the Open | October 21, 2021 Grain, soybean futures expected lower in pullback from two-week highs.
Vilsack: seed sector next on the competition front
The U.S. Drought Monitor as of Oct. 19 showed some drought improvement in areas of the Southern Plains, but there were areas in West Texas that saw a one-category degradation in drought conditions during the week.
Above-normal temps are expected across the entire Southern and Central Plains for November through January, with below-normal precip over much of Oklahoma and all of Texas.
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China was the lead buyer of U.S. soybeans on the week at nearly 1.9 MMT.
Soybean led the price pullback overnight after recent, strong gains.
After the Bell | October 20, 2021 Signs of stronger exports send corn, soybean futures to two-week highs; HRW wheat posts highest close in over seven years.
Corn and soybean basis both slipped as harvest continues to progress faster than normal and yields are big.
The report is expected to show larger placements again for September.