Early Market Talk May 25, 2021


Corn mixed overnight on modest volume. Soybeans on the positive side of unchanged trading as much as 15 1⁄2¢ higher. Soybean planting pace near 5% behind trade guess helping overnight price action. Soybeans also showing decent overnight volume totals.

CN21 trading off 2 1⁄2¢ at 0600 in a 9 1⁄4¢ high to low range. SN21 now 10¢ higher at $15.32 3⁄4. Soybean high made in the first couple hours of overnight trade. Slipping off that since but rebuilding as the sun comes up. Soybean oil a cent higher. 

Dalian corn futures lower for the second straight day and trending lower. 

Dow futures up 93 points this morning at 34,445. Crude off 12¢ at $65.93. US $ Index showing a modest decline this morning. 

Planting progress showed 90% of the corn in the ground. Up from 80% a week ago and the 5-year average for this date of 80% also. Will take a quick look at major states progress and the deviation from ave shortly. 

Soybean planting at 75% was 5% behind the trade guess but still up 14% wk/wk and 21% ahead of the 5-year ave pace. 

SXSF posting a carry overnight and this morning. 

Weekly corn export inspections showed 68 million bushels of corn leave the country with China taking nearly half. Corn inspections at a pace that will exceed current USDA estimate. 

Safras & Mercado forecast Brazil’s 20/21 soybean crop at 137.19 MMT, up from earlier forecasts of 134.1 MMT. 

Morning weather headlines - U.S. corn/soybean planting remain ahead of 5-year average. Dry this week, but rain for southern safrinha areas next week. More rain expected for Western Australia wheat areas. 

Market Talk Footer

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

E- mail: Bruce.Nelson@IFCS.com

1075 Jordan Creek Parkway Suite 300
West Des Moines, IA 50266

800-422-3087 Ext 3791