Futures activity

  • After a bullish reaction to last Thursday’s USDA report, Jul-22 corn futures settled Friday at $7.81 per bushel. The Dec-22 contract ended the week up $0.38 at $7.4875 per bushel.

S&D and fundamental factors

  • U.S. corn was 22 percent planted as of May 8, compared to 64 percent a year ago and a five-year average of 50 percent.
  • Globally, USDA sees 2022/23 global corn carryout down by more than 4 MMT YOY at 305.13 MMT.

Weather, macro indicator, and news

  • A window of dry weather is anticipated for the next six to ten days, allowing U.S. farmers to catch up on planting. Acreage not planted by the end of May risks a switch to soybeans.

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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.