Tuesday April 20, 2021

  • Strong open again for grain markets across the board
  • Mexico purchasing some corn, strong demand from U.S. crush plants for soybeans 
  • New crop prices continue to yell at farmers to get every acre of corn and soybeans they can planted
  • Brazil has halted import tariffs on soybeans, corn, soy-meal and soy-oil until the end of the year
    • this is a tactic used to attempt to cool local prices 
    • Domestic corn prices in Brazil reached record highs yesterday as their safrinha crop continues to face drought stress
  • U.S. planting progress saw corn now 8% complete, even pace with the 5 year average despite the cold snap, soybeans 3% planted 
  • Winter Wheat conditions ratings steady at 53% good/excellent holding par with average