Futures activity

  • Dec-21 corn futures dropped by roughly $0.10 over last week to close at $5.3050 per bushel. Since the last week of September, futures have traded in a narrow range.

S&D and fundamental factors

  • Global ending stocks are projected to rise by about 1 MMT to an average guess of 298.76 MMT. CONAB is projecting Brazilian 2021/22 corn production at 116.313 MMT, up by more than 29 MMT from 2020/21—with acreage to grow by 4.75 percent to nearly 20.87 million hectares.
  • Heavy rains are slowing corn harvesting activities in northern China and raising concerns about quality. USDA is currently projecting a crop of 273 MMT for 2021/22—up 5 MMT from the August projection and up nearly 14 MMT from 2020/21.

Weather, macro indicators, and news

  • Cordoba, Santa Fe, and Santiago del Estero regions of Argentina remain too dry to get going with early season planting.

IQ subscribers, log in to read more.

Source: 123rf.com
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.