Market Update – Friday January 21, 2022

• After another nice green day on the markets yesterday we are just sitting just on either side of unchanged 
• We are near post-harvest highs (old crop) sitting back in the $17.20 + and $7.40 + ranges for soybeans and corn respectively – and if you are kicking yourself for not selling old crop soybeans over $17.00 you now have that opportunity again 
• New crop corn continues to sit near its high just below the $6.70 mark and soybeans just sitting comfortably lower than recent highs of $16.00 
  • If you have not started marketing your 2022 crops now is the time to being your planning and placing orders for your price targets
• Yesterdays rallies made 5+ month highs in the futures market as Brazil posted “no bid” to export clients as their farmers seemed to be unmotivated sellers, with strong domestic crush demand soaking up an beans that did enter the market place 
• We did see some flash sales this morning both to China and “unknown” (presumably China) for soybeans and corn respectively 
• Weekly U.S. Export Sales
  • Corn had a strong week coming in ahead of projections, wheat on the larger end of expected range and soybeans on the lower end of expectations