By Kirk Maltais Export sales of U.S. corn exceeded 4 million metric tons for the week ended May 13, fueled mostly by sales to China for the 2021/22 marketing year. For the 2020/21 and. | May 20, 2021
By Kirk Maltais Wheat for May delivery fell 1.5% to $6.42 1/2 a bushel on the Chicago Board of Trade Thursday after Egypt s grain buying authority paid a lower price for grain exports, indicating lower demand for wheat. Soybeans for May delivery rose 0.3% to $14.13 1/2 a bushel. Corn for May delivery rose 0.8% to $5.38 1/2 a bushel. HIGHLIGHTS Follow the Leader: Wheat futures fell Thursday, after the Egyptian state grains buyer purchased Romanian wheat for a price cheaper than its previous purchase $281.49 per ton vs. $291.70 last month. Egypt launched this tender for 360,000 tons late yesterday, for delivery in mid-April. Better Than Expected: Projections for Brazilian crop production rose from the previous month, according to the latest data from Brazil s crop agency Conab. Brazilian farmers are projected to produce a record 135.1 million metric tons of soybeans this season, up from 133.8 million tons projected in February. Meanwhile, the total corn
By Kirk Maltais Corn for March delivery fell 3.9% to $5.34 1/2 a bushel on the Chicago Board of Trade Wednesday as grains fell after Tuesday s WASDE report showed a smaller-than-expected cut to ending stocks. Soybeans for March delivery fell 3.4% to $13.54 a bushel. Wheat for March delivery fell 2.2% to $6.35 1/2 a bushel. HIGHLIGHTS Collecting Profits: Grain futures dropped Wednesday. Traders opted to take profits in reaction to a muted movement in stockpile figures from the government. The USDA numbers were nowhere near what trade has been assuming given the export sales reports recently and given the crop reports out of South America, so it looks like we are going to have a little readjustment period and then have to wait for the March report, said Tomm Pfitzenmaier of Summit Commodity Brokerage.
By Kirk Maltais Wheat for March delivery fell 1.1% to $6.58 1/4 a bushel, on the Chicago Board of Trade Wednesday, with grain traders opting to short wheat as a hedge for their long. | February 5, 2021