The most relevant information to help create a clear marketing strategy.
Key Market Data
June 23, 2021
Weekly Market Recap
The futures prices for corn, soybeans, and wheat changed significantly for the week ending June 18th, 2021. For the first part of the week, there were reports of rain across the major croplands in the U.S. along with ethanol and biofuel talks. The ethanol and biofuel requirements appeared to have a negative effect on the corn markets because it seemed that there would be a decreased demand for corn with lower ethanol usage. There is also talk about the interest rates rising, which may make speculators take some money out of the markets, causing the prices to fall. Friday, the markets were able to recover some of what was lost with a shift in biofuel talks.
Important Marketing Information
The World Agricultural Supply and Demand Estimates report from the USDA on June 10th, 2021 showed that the U.S. Production, in bushels, was slightly below the analysts’ average, but was within the anticipated range. For the ending stocks, the numbers were relatively close. These numbers will not likely impact the prices greatly, but due to the nature of the markets, we could see some changes from the differences. Both corn and soybeans’ acres planted and average yield stayed the same, but beginning and ending stocks saw changes.
See the full report here: June 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.
Free DP on Corn until September 30th, 2021.
DP on beans is 0 drop & .05 mo 1.4 shrink .04/point on dry bu only
DP on corn is 0 drop & .05mo 1.4 shrink .03/point on net dry bu
DP on Wheat 0/5 .03/point on net dry bu.
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.