Futures activity

  • Mar-22 corn futures ended last week up 3 percent at $6.06 per bushel, maintaining the recent trend above $6 per bushel. Prices have been on a nearly steady incline since bottoming out in early September.

S&D and fundamental factors

  • WASDE is this week, and the trade is anticipating global corn ending stocks to fall by a couple million tons to around 303.6 MMT. Likely due to surrounding unfavorable weather, the average analyst guess for Argentine and Brazilian corn production is 53.6 and 116.2 MMT, respectively.
  • Analysts are projecting Dec. 1 corn stocks near 11.6 billion bushels, up about 300 million bushels from 2020.

Weather, macro indicators, and news

  • Much of the market’s focus will be on weather over the coming week as conditions are expected to be hot and dry through most of Argentina. A few agencies have lowered soybean projections, but few have yet to do so for corn.

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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.