Sep-21 corn futures ended last week considerably lower, down more than $0.32 per bushel over the week. Dec-21 futures fell by 3.5 percent over the week to close at $5.24 per bushel.
S&D and fundamental factors
U.S. corn condition remains at national average of 60 percent rated good to excellent. USDA will likely adjust estimates for planted and harvested corn acreage in the Sep. 10 WASDE report release.
Some reports out of Brazil suggest 2020/21 production could fall further due to exceptionally low yields for the latest planted safrinha corn.
Weather, macro indicators, and news
Hurricane Ida’s destruction left a logistical nightmare at one of the U.S.’s major exporting terminals.
Energy prices are rallying. Oct-21 crude oil futures topped $70 before settling slightly lower last Thursday, and natural gas also traded higher this week. Meanwhile, EPA is reportedly asking a U.S. appeals court to reconsider some oil refiner waivers during the Trump administration.
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.