Grain Exchange – 2-2-2021
Happy Ground Hog Day! Only 6 more weeks of winter until spring arrives, are you ready? Below is a chart from RJO of how the market has reacted to the ground hogs shadow. Hopefully that means we will recover from the overnight market.
Markets are quiet today as the overnight saw red on all commodities.
Corn is down 3-6c
Beans are down 17-20c
Wheat is down about 8c
The market drop is after we have seen several pops in the market due to China and others not only purchasing old crop but new crop as well. The US export market is on track to be extremely successful for 2021 however there is still the lingering fear of cancelled contracts. There is still focus on South America as they harvest, they are just getting started in the beans it may be too early to tell real yield impacts.
Stay tuned for next week as we have another report coming up. If you have any questions, please reach out to your local Grain Marketing Specialist.
P.S. In case you missed the Grain Producer Meeting on January 19, please click the image below to watch the full recording.