Friday February 5, 2021

  • Mostly unchanged with corn sitting right off highs 
  • Brazil’s Ag ministry expecting soybean harvest to produce 132-133 MMT , corn expected to be over 103 MMT 
    • The estimate for corn is lower than that of USDA or StoneX who had both been estimating closer to 109 MMT 
  • Buenos Aires Grains Exchange cut their production estimate for corn from 47 MMT to 46 MMT 
  • Dry beans expected to be the victim in acreage battle in Ontario – expecting to see a 13.5% acres drop from 2020 to 2021
  • Stats Canada released their quarterly stocks
    • Soybeans lower than last years stocks by 9% – a reflection of strong export demand
    • Corn up from last year by 3.3% but lower than 2019 by 8% 
    • Wheat down from last year by 3.8%