Markets
The most relevant information to help create a clear marketing strategy.
Key Market Data
Dec 7, 2021
Pettisville
Wheat 7.74
Corn 5.56
Beans 12.15
New ’22 7.60
New 11.82
Delta
Wheat 7.74
Corn 5.59
Beans 12.18
New ’22 7.60
New 11.85
Weekly Market Recap
The final week of September 2021 showed the corn and wheat prices increasing while the soybean prices fell significantly. One major reason for the change in futures prices was the USDA Grain Stocks report on Thursday at noon. The analysts’ average estimate of the stocks for soybeans was significantly lower than the USDA, meaning that there is a greater supply of soybeans than anticipated, which drove the price down. Corn and wheat rose slightly because the stock numbers were reasonably close to the numbers found in the USDA report.
Important Marketing Information
The World Agricultural Supply and Demand Estimates report from the USDA on September 10th, 2021 showed numbers that were all higher than the Analysts’ Average Estimates for the U.S. Production and Ending Stocks with both corn and soybeans. All of those reported numbers were within the Estimate Range. These numbers indicate that there may be a higher than anticipated supply this fall.
See the full report here: September WASDE
The following charts show the monthly average harvest futures prices for corn and soybeans, respectively, for the last 15 years. Based on the prices shown, the best time to forward contract corn is in the April to July time period and for soybeans, the June and July months are typically best for forward contracting. We encourage farmers to think of these charts as a visual reminder to take advantage of the unusually high prices that we are seeing in the commodities markets. If you have any questions or would like to further discuss these charts, feel free to call our Pettisville office at 419-446-2547.
DP on beans is 0 drop & 6 cents per month with 1.4 shrink and 4 cents per point on dry bushels only.
DP on corn is 0 drop & 6 cents per month with 1.4 shrink and 4 cents per point on net dry bushels.
DP on wheat is 0 drop & 5 cents per month. Drying is 4 cents per point on net dry bushels.
Visit Tradingcharts.com to receive free “market snapshot” commodity market quotes. These snapshots are updated continuously during market hours, and are delayed the minimum time required by each exchange (as few as 10 minutes). To display a market snapshot, first select an exchange or sector from the list on the left side of this page. The exchange or sector will then “expand” into a list of all commodities available for that particular exhange/market. To see a market snapshot, simply click on the name of any commodity.
We will pick up for free within 20 miles of Pettisville or Delta if you have an 8 inch auger or over head bins. We are now offering average pricing contracts, please call us for details.
You can help end world hunger with Foods Resource Bank your in-kind gifts of grain will be matched $ .10/bu for corn, $ .10/bu for wheat & $ .20/bu for soybeans
Imagine an environment where ideas are shared freely to the benefit of all, and you have the opportunity to both get the help you are looking for and have the opportunity to help someone else. That environment exists today and is why PGC is a proud partner of White Commercial Corporation. When farmers and elevators are working together to maximize profits, the whole community benefits.