Monday May 3, 2021

  • Starting the week off in the green with corn the leader of the day
  • Supply concerns linger as demand continues to be strtong 
  • Brazils safrinha corn weather outlook remains mostly dry this week
  • Expecting some pretty substantial planting progress to be reported later this afternoon as the U.S. had mostly decent planting weather last week 
  • Commodities markets such as oil, copper and soybeans (along with several other metals and ag goods) are seeing their steepest inverse in prices since at least 2007 – reflecting the worlds strong demand for raw materials 
    • Generally further out contracts are more valuable as they reflect the cost to store the goods – however in tight supply high demand times such as this the opposite becomes true as the markets scream to get the products to them as soon as possible