Friday May 7, 2021

• Mixed market as we go through the day – seeing some speculators take some profits at the end of the week 
• Estimates for next weeks USDA report – will be the first report to put estimates for 2021/22 carryout 
  • Corn expectant to see even further tightening of 2020/21 carryout stocks, also expecting fairly tight carryout numbers for 2021/22 at 1.3 billion bu 
  • Soybeans also expected to see tighter 2020/21 carryout stocks, 2021/22 carryout expected to be tight as well with first estimates coming in around 138 million bu 
  • South Americans production expecting to see a decline in corn production estimates and mostly unchanged for South American soybean production