CBT futures are mixed at midday. The CBT continues to measure US yield while also seeking a price that builds demand for US corn/wheat. US corn purchases by importers have not ramped up, while US wheat is the most expensive in the world. This has produced a CBT correction of last week’s USDA Crop Report…
Corn Seasonal Price Trend Discussion The CBOT corn market has largely avoided a widespread national yield disaster, which suggests normal seasonal trends provide a general road map to direction into early 2022. It’s clear little can be expected in the way of lasting rallies until harvest nears completion. There will be no shortage of physical…
Summary: Last week Brazil exported 1.20 MMT of corn. Argentine exports were 786,000 MT. Ukraine shipped 98,000 MT. US exports were 755,000 MT. As of Aug 13, Brazil’s total corn export “commitments” for the local marketing year were 9.25 MMT vs 14.57 MMT last year. Commitments have accounted for 40.2% of projected total annual exports. Ship lineup data…
Highlight: Mid-south heat days 6-10; West rewarms days 11-15. Chart of the day: ECM ENS >100F risk. Discussion: The ECM ENS >100F risk forecast is not nearly as hot as GFS. Areas of >100F risk include the northwest Great Plains the next couple days and the Mid-south States in the 6-10-day period. California/Arizona >100F risk…
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