Tuesday September 28, 2021

• Markets dipping lower this morning after a green run on the markets yesterday – strong harvest progress and strong U.S. dollar keeping a lid on soy & corn gains
• Domestic Chinese corn prices are expected to fall in 2021/22 marketing year compared to last season due to a bumper crop coming off in that country
  • They are expecting corn imports to fall from 29 to 20 MMT as a result as well
• Weekly Crop Progress Report
  • Corn harvest is moving along, now at 18% complete – ahead of the 5 year average pace of 15% 
  • Soybean harvest now 16% complete – also ahead of average pace of 13% complete
  • Winter wheat planting now 34% complete just above the average pace of 32%