Friday June 25, 2021

• Markets lower again this morning as rain is expected over the weekend 
• Buenos Aires Grains Exchange announced the Argentine 2020/21 soybean harvest complete at 43.5 MMT – down 10% from last season – as expected
  • Yields came in at 39.7 bu/ac 
• Argentine corn harvest now at 48% complete 
• International Grains Council raised their global production estimate for corn in 2021/22 by 7 MMT to 1.201 Billion MT – Chinese production accounting for a large portion of that gain 
• Estimates are surfacing for next weeks USDA Planted Acres Report – we will take a deeper look into the estimates next week
  • Overall expecting an increase in acres compared to Marchs projections – but that increase has been expected since the day the March report was releases
  • Average estimates 93.7 million acres corn, 89 million acres soybeans (compared to March’s 91 and 87.6 million acres respectively)