Futures activity

  • Dec-22 corn futures went on a wild ride last week after prices plunged to $5.7850 per bushel last Monday, down 29 cents from the previous Friday’s close. Prices dipped to as low as $5.6650 per bushel during trading on Wednesday, the lowest since early February.

S&D and fundamental factors

  • Brazil’s CONAB raised 2021/22 corn production to 115.7 MMT and is now in line with the USDA estimate of 115 MMT. The crop was able to withstand some unfavorable weather, and production was better than anticipated vs. estimates months ago.

Weather, macro indicators, and news

  • The June jobs report was much better than anticipated with the economy adding 372,000 jobs; unemployment remains at 3.6 percent. Pre-report estimates were 272,000 jobs.

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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.