Thursday October 7, 2021

  • Markets lower this morning 
  • Weekly U.S. export sales out this morning, overall improved from last week
    • Corn came in even higher than expected 
    • Soybeans on the higher end of expectations – yet still less than half of last years comparable
    • Wheat on the lower end of expectations but ahead of last weeks
  • Expectations for Tuesdays USDA report rolling in – overall expecting an increase in soybean yield and a slight decrease in corn yield
    • Average estimates for corn and soybean yields are 176.0 bu/ac and 51.1 bu/ac respectively
  • Some Chinese soybean crush plants remain closed due to the power shortages in China – this is nerve wracking for the U.S. market as this is the key timing to get soybeans from North America to China before cheaper Brazilian beans appear on the market Feb-March