Morning Comments March 22, 2021

Agronomist In Soybean Field

The markets finished strong last week, led by old crop corn, which was up 18c for the week. There was another corn sale to China announced Friday morning, bringing the four-day total to 152Mln bu. That will be incorporated into this week’s export sales report on Thursday morning. Beans had a relatively quiet week with steady prices, and wheat was slightly lower on beneficial rains for the Midwestern states. Midwest weather looks fairly wet for the next two weeks. 

Overnight markets to start this week are steady to slightly lower. 

Canadian Pacific and Kansas City Southern railroads are to combine and create the first Canada-US-Mexico continuous rail network. 

The USDA reports coming up that will be very important include the March 31 quarterly grain stocks & intended acreage report and April 9 monthly WASDE supply/demand report. These will set the tone heading into planting season. 

Opening Calls:

Corn: down 1-3c

Beans: steady