Futures activity
- Dec-21 futures ended last week lower by about $0.06, at $5.7075 per bushel. Although Dec-22 futures were also lower for the week, they closed Friday minimally higher at $5.5425 per bushel.
S&D and fundamental factors
- The Rosario Exchange is projecting Argentine corn production between 55 and 56 MMT for 2021/22 vs. USDA’s forecast of 54.5 MMT.
The International Grains Council raised its projection for 2021/22 global corn production to 1.212 billion MT, now slightly higher than USDA’s number of 1.205 billion MT.
Weather, macro indicators, and news
- Weather remains favorable in South America as widespread rains have now hit large portions of Argentina.
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