Edwards Market Thoughts

6/23/2021 8:00am

Corn is mixed this morning with new crop lower on continued wet forecast for the Midwest at the end of the week while July corn holding steady on firm cash values. Open interest in July corn fell almost 42k contracts as the July/Sep inverse exploded to over +110 inverse.

Ethanol margins slipping back into the red with weak DDGS and firm cash corn basis. Weekly EIA report should show steady ethanol production with uptick in ethanol stocks. Interesting to note some reports of gasoline shortages in parts of the Midwest though should be temporary. Market now bracing itself if the rains come to pass later this week and next week's USDA acres and stocks report. Next major support for Dec corn toward $5.00.

CN/CU spread comparison for 2021 and 2013!


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Siouxland Cash Bids
Name Delivery End Basis Cash Price Futures Price

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Quotes are delayed, as of June 23, 2021, 06:15:51 PM CDT 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.
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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.


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.

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Triple Digit Rally for Cotton -

At the close, front month cotton futures were 72 to 224 points in the black. July contracts were the biggest gainer on the day. Crude Oil

Lean Hogs Drop Triple Digits -

August hogs bounced back from the limit loss to close $2.97 lower, July on the other hand stayed lock limit down. The other nearby contracts closed

Beans Drop into Close -

At the closing bell of the midweek session, afternoon drops left the board fractionally mixed to 9 1/2 cents in the red. July contracts were the

Cattle Close in Red -

Live cattle futures ended the Wednesday session 20 to 87 cents weaker in the front months. Feb contracts gave back $1.17 on the day. The FCE online

Wheat Rallies Double Digits -

Wheat futures closed Wednesday with double digit gains led by HRS. Minneapolis spring wheat futures ended with 19 1/4 to 23 3/4 cent gains. SRW

Corn Prices End Mostly Weaker -

July corn widened the inverse some more on Wednesday, with the 4 1/2 cent gain contracts are now a $1.13 premium to Sept and a $1.28 premium to Dec.

Full commentary...

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