Futures activity

  • Sep-22 corn futures ended last week close to where they started, closing at $6.1025 per bushel. Dec-22 futures were up a mere quarter of a cent from the start of last week, closing at an even $6.10 per bushel.

S&D and fundamental factors

  • The U.S. corn crop was rated 61 percent good to excellent in the Monday Crop Progress report last week.

Weather, macro indicators, and news

  • The first shipment of grain leaving Ukraine was reported to have set sail last Monday. Included in the shipment is a reported 26,000 MT of corn. Three additional vessels loaded with grain (including corn) left on Friday. It is believed that, between wheat and corn, grain stocks in Ukraine are near 16 MMT.
  • A bevy of recession-contradicting stats was released Friday, calling into question whether the U.S. economy is truly contracting—at least as of yet. Nonfarm payrolls were reported to have increased by 528,000 in July—well above pre-report analyst projections of as much as 325,000. (The June number was revised higher by 26,000 to 398,000.)

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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.