Planting delays continue to drive up prices in the grains complex
Corn up 2-6 cents
Wheat up 7-9 cents
Corn
Corn prices notched a new eight-year high overnight on continued concerns about planting delays across the Midwest amid unseasonably cool soil temperatures. Deteriorating corn crop conditions in Brazil also contributed to the uptick in old crop corn futures prices overnight.
USDA releases its weekly export sales report today. Trade estimates suggest 2020/21 corn export sales are likely to range between 11.8 million – 31.5 million bushels while 2021/22 sales are anticipated to come in at 2.0 million – 11.8 million bushels for the week ending April 15. No large daily export sales of corn were reported to USDA during the April 8 – 15 reporting period.