Monday February 8, 2021

  • Markets higher on the overnights and continue to push higher through the day 
  • High risk of wheat winter kill this week with temperatures plummeting both across the U.S. and in parts of Russia 
  • Argentina and Southern Brazil facing dryness concern 
    • Dry trend expected to continue into the end of February – with moderate heat this system is set to draw soil moisture down to detrementaly low levels 
  • Farm Futures performed a survey with American farmers on 2021 intended acres, results as follows
    • Corn planting 94.7 million acres – up 4% from 2020 
    • Soybean planting at 84.5 million acres – up less than 2% from 2020 
    • All wheat at 46.4 million acres – up 5% from 2020