Thursday October 28, 2021

  • Markets have continued their usual pattern this week with a lower overnight trade, opening to a rally which weans off by the afternoon 
  • Weekly U.S. export numbers out this morning are on the disappointing side 
    • Corn on the low end of expected range and well below last weeks
    • Soybean just below the lowest end of expectations and also much lower than last week
    • Wheat on the low end of expectations
  • Trade starting to speculate that we will see a yield increase in the November monthly USDA report that will be out in two weeks 
  • Dryness being reported in Russia – Ukraine, still too early to be concerned but we will watch their weather closely and how it may impact their winter wheat conditions