Markets
Higher yields = greater profits.
Key Market Data
May 14, 2021
Pettisville
Wheat 7.00
Corn 6.56
Beans 16.14
New 5.10
New 13.54
Delta
Wheat 7.00
Corn 6.59
Beans 16.17
New 5.13
New 13.57
Weekly Market Recap
For the first week of May 2021, the corn, soybeans, and wheat futures prices all rose consistently through the week. Experts are saying that drought conditions in South America are to blame, along with rains in some of the Midwest putting a pause on planting. We are looking forward to the USDA Supply and Demand report on Wednesday, the 12th, to have an impact on the prices for the second week of May.
Important Marketing Information
The World Agricultural Supply and Demand Estimates report from the USDA on May 12th, 2021 showed that the USDA expects slightly lower U.S. production than the analysts’ average, yet the USDA was within the expected range. For the U.S. Ending Stocks for 2021-22, the USDA was slightly above the analysts’ average for both corn and soybeans.
See the full report here: May 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.