Friday November 5, 2021

• Markets took a sharp turn lower yesterday and continue under pressure to end the week 
• Soybeans battling the projection for higher yields in next weeks USDA, strong South American planting progress, and looking to add acres to U.S. planting next season due to the high input prices 
• Markets waiting for more fundamental news from the USDA to offer direction next week 
• Argentina seeing overall favorable crop conditions so far for the 2021/22 crop
  • Corn 28% planted, slightly below average pace, however extremely high conditions rating at 82% good/excellent, compared to last years crop being rated at 38% g/e in the same time frame
  • Soybeans planting just getting started at 7%, same as average pace
  • Wheat rated 46% good/excellent, compared to average of 24% g/e