Wednesday June 30, 2021

  • Markets taking a step down this morning as nervous energy consumes the market place
  • This report will set the stage for summer – overall after this report we will go back to trading weather stories BUT this report will dictate how impactful weather will be 
    • If acres are small – weather will be scrutinized on the daily with any deviation from ideal as cause for concern
    • If acres are bigger – weather will still be important but there will be room for the weather to be “less than ideal” before there is major concern over production
  • Stats Canada estimated 2021 wheat planting at 23.4 million acres – down 6.5% from 2020, canola planting was up 8% from 2020, corn acres down slightly at 3.56 million acres and soybean up at 5.32 million acres