Edwards Market Thoughts

3/8/2021 8:00am 

Old-crop soybeans rallied to fresh move highs overnight— the highest for the spot contract since June 2014—with new-crop corn and beans not far behind, carving out their own contract highs as well. The Brazilian soybean harvest (and second-crop corn planting was hit further by weekend rains, and the bulls are looking forward to steady-to-tighter stocks from the USDA tomorrow and a continued acreage battle into the end of the month.

Friday afternoon’s Disaggregated CFTC Report showed managed money funds cutting 14-17k net contracts in both corn and soybeans on the week ending last Tuesday (March 2), just a bit more than expected by daily trade estimates on both counts. Moves in the rest of the complex were more minor. Producers and merchants added just shy of 20k net corn on the week.

Argentina was mostly dry over the weekend, with a split pattern emerging for the next ten days—wetter west, drier east, which will aid late moisture supplies for soybeans in the former and increase dryness concerns for the latter. Brazil was wet again over the weekend with heavy rains spread from northwest to eastern growing areas. Wet weather continues this week in the far north, with chances shifting west during the 6-10 day; center-south conditions should improve but slow soybean harvest and corn planting remains an issue.

 

Local Weather
Weather radar map

Sioux Center, Iowa (51250)

Current Conditions: Sunny
Temperature: 64°F Dew point: 45°F
Humidity: 49% Pressure: 30.10 in. Hg
Wind: 15 mph From: Southeast

Forecast

Monday
Weather condition
Hi: 65°
Lo: 33°
Tuesday
Weather condition
Hi: 70°
Lo: 47°
Wednesday
Weather condition
Hi: 54°
Lo: 34°
Thursday
Weather condition
Hi: 49°
Lo: 31°
Friday
Weather condition
Hi: 51°
Lo: 28°
Saturday
Weather condition
Hi: °
Lo: °

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Siouxland Cash Bids
Name Delivery End Basis Cash Price Futures Price

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Quotes are delayed, as of March 08, 2021, 03:03:05 PM CST or prior.
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
Industry News

Click on the link below to find encouraging industry information that we would like to share with the supporters of both our company and the renewable fuels industry - 

http://www.ethanolproducer.com/articles/16668/ethanol-producers-need-to-reduce-their-ci-scoreundefinedand-quickly

Siouxland

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Letter to President Trump!

  

Tuesday, December 10, 2019

Time is running out, and we need to YOUR help TODAY.

America’s Renewable Fuel Standard (RFS) is critical to revitalizing struggling farm economies, reducing our dependence on foreign oil, and protecting the climate. But Environmental Protection Agency (EPA) exemptions to oil companies have destroyed demand for billions of gallons of U.S. biofuels. President Trump vowed to restore lost gallons, but the current EPA proposal only accounts for a fraction of the demand destroyed by the agency’s unprecedented use of oil refinery waivers. We MUST demand action NOW before it’s too late.

https://fuelsamerica.org/call-president-trump-restore-biofuels-protect-rfs/

Join us TODAY in calling on President Trump to take action now to reopen biofuel plants and revitalize markets for America’s farmers.

Thank you in advance for your continued support.

Growth Energy

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Commentary
Hogs In Black at Midday -

April lean hog futures are 22 cents weaker at midday to near $86.95, but the rest of the lean hog futures market is in the black. Gains for the

Soy Fades Overnight still In Black -

After fading overnight gains at the open, midday soybean prices are still 10 to 11 1/4 cents in the black. May is near $14.41/bu at midday, but down

Cotton Pullback Continues -

Monday trading has front month cotton futures 18 to 19 points weaker for old crop and 7 points weaker for new crop Dec. Crude Oil is weaker at

Corn Fading at Midday -

After overnight, gains faded in the day session, with corn prices currently 1 3/4 to 3 1/2 cents in the red. New crop set a new LOC high overnight,

Wheat in Red for New Week -

Monday’s wheat trading has midday prices in the red after giving back overnight gains. SRW futures are down 1 3/4 to 4 1/2 cents so far with May

Cattle Gain with Weakness in Feed -

Midday cattle prices have the board 45 to 95 cents higher, with April near $119.47 Cash trade stayed near $114 last week, although USDA confirmed a

Full commentary...


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