Thursday May 6, 2021

  • Soybean and corn markets testing higher again this morning as wheat is seeing some resistance
  • Weekly export sales came in fairly low for the week
    • Wheat saw some cancelations, corn came in below expectations, soybeans lower than last week but on higher end pf expectations
  • Global canola prices have reached new all-time highs with support from high canola oil prices in Europe as well as drought concerns in Western Canada 
  • Overall fundamentals continue
    • Dry Brazilian second crop corn
    • Strong demand for all commodities
    • Planting progress continuing through the U.S.