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Corn, soybeans and wheat all spill lower in Thursday’s session A strong start so far to the 2021 growing season put grain prices back on their heels Thursday. Corn prices sagged 2% lower as traders returned their focus the strong start to the 2021 growing season, despite some hot, dry weather lurking in the mid-range forecasts. Soybeans slid nearly 1% lower, meantime, while wheat prices fell as much as 1.5% today after a round of technical selling. Very little rainfall is expected anywhere in the Midwest and Plains between Friday and Monday, with no areas expecting much more than 0.1” additional moisture during that time, according to the latest 72-hour cumulative precipitation map from NOAA. The agency’s 8-to-14-day outlook, covering June 10 to June 16, predicts seasonally dry weather spreading across most of the central U.S., with hotter-than-normal temperatures also likely for the northern half of the country. ....
Chinese wheat harvest, final holiday positioning weigh on corn and wheat Corn mixed to down 1-3 cents Soybeans mixed to down 1-3 cents, soyoil down $0.25/lb, soymeal up $0.30/ton Wheat mixed Prices as of 6:50 am CDT. Good Morning! Markets will be closed on Monday in observance of Memorial Day. The morning newsletter will not be published on Monday but will resume its normal schedule on Tuesday. Enjoy the holiday safely, everyone! And don’t forget the cheese for your burgers! Editor’s Note: Variable weather conditions are the overarching theme of current market volatility, with farmers battling excessive dryness and wetness in various corners of the Heartland. Our latest ....