Wednesday May 5, 2021

• Markets continued their move higher overnight and into this morning – old crop corn seeing to be hitting resistance at the $7.00 futures market 
• Situation remains the same today
  • Brazil dry and looks to remain that way through the week
  • Strong overall demand despite high prices 
• Brazilian exports seen to slow this month going from 250 ships in April to an estimated 180 in May 
• Some corn export sales made to Mexico over the last day as well as some cancelations and new sales made by China 
  • Looks to be positioning moving sales from 2020/21 marketing year to 2021/22
• See below the corn yields for North and South America over the last 30+ years