Futures activity

  • May-22 corn actually fell 19 cents per bushel last week to $7.35 per bushel despite an unfavorable acreage report.
  • New-crop futures contracts closed the gap vs. the spot market, however, reflecting lower expected acreage. The Dec-22 contract rose from $6.69 per bushel to $6.88 per bushel, a new contract high.

S&D and fundamental factors

  • Corn acres came in at 89.5 million acres in last Thursday’s Prospective Plantings report, nearly 4 million acres below last year and some 2.5 million acres below analyst expectations.

Weather, macro indicators, and news

  • Russia/Ukraine: Last week, talk of negotiations was circulating, but Russian shelling continued across Ukraine, especially in the southeastern cities. A reported Ukrainian helicopter strike on a fuel depot in Russia could further muddle peace talks.

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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.