Siouxland Energy Cooperative

Edwards Market Thoughts

10/21/2021 8:00am

After rallying 34 cents/bu the last 6 sessions the corn market is taking a pause as it found resistance again at $5.40 overnight. Open interest in corn was up 10k contracts on yesterday's buying. Strong ethanol margins continue to support corn values.

Weekly export sales were just over 50 mln bu this week and toward upper end of trade estimates. Unknown destinations were the largest buyer of 18 mln bu followed by Mexico of 14.8 mln bu.

Rain still forecast for next week and will keep producers pushing on harvest. Increased farmer selling is expected from $5.40 to $5.50 Dec with support at $5.31 and $5.25.

Soybeans are lower with soyoil seeing a correction overnight, see chart. Malaysian palm oil fell over 2% overnight after hitting new contract high overnight. Beans tried to stabilize after a larger than expected weekly export sales number of 105.8 mln bu. China was the buyer of 69.2 mln bu, but of this 19 mln bu was already under unknown destinations and just declared. Chinese soybean stocks fell for the 5th week in a row as crush plants there start back up as they get electric power back. Chinese crush was 1.67 mmt vs 1.41 mmt last week.

Local Weather

Sioux Center, Iowa (51250)

Current Conditions:		Sunny
Temperature:	46°F	Dew point:	39°F
Humidity:	76%	Pressure:	30.16 in. Hg
Wind:	4 mph	From:	West

Complete weather...

Forecast

Thursday
Weather condition

Hi: 50°
Lo: 37°

Friday
Weather condition

Hi: 52°
Lo: 31°

Saturday
Weather condition

Hi: 54°
Lo: 31°

Sunday
Weather condition

Hi: 46°
Lo: 40°

Monday
Weather condition

Hi: 50°
Lo: 39°

Tuesday
Weather condition

Hi: °
Lo: °

Siouxland Cash Bids

Name	Delivery End	Basis	Cash Price	Futures Price

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Quotes are delayed, as of October 21, 2021, 06:28:36 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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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

Scale Hours

Wednesday, Oct 21

7:30-4:30

Saturday

TBD

SEC is offer Free Storage on old crop corn. Free Storage will run from today till Nov 1, 2021. Bushels must be sold prior to Nov 1st.

The Free DP is on a limited amount of bushels so first come first serve basis.

Any Questions contact Tom at SEC

Email/Text Sign Up

Click here to complete the Email/Text Sign Up form to recieve the most up to date information on marketing opportunities, grain delivery and any other scheduled meeting information.

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Commentary

Wheats Drop Double Digits - October 21, 2021

The Thursday wheat market went home with some double digit losses. CBT futures ended with 5 1/2 to 8 cent losses. Kansas City prices were 11 to 12

Cattle Fade on Thursday - October 21, 2021

Through Thursday’s session live cattle futures worked $0.75 to $0.97 weaker. USDA reported cash trade for the week was wide ranged from $123 -

Cotton Gives Back Gains on Thursday - October 21, 2021

After the midweek rally left cotton nearly 300 points, Thursday’s session fell back 428 to 459 points. Dollar Index was back higher on Thursday.

Beans Slide 20 on Thursday - October 21, 2021

At the close, soy futures were down 19 to 21 1/2 cents. The November to November spread was 1 1/2 cents firmer to now a 5 3/4 cent carry. cmdtyView

Corn Market Fades on Thursday - October 21, 2021

At the close for Thursday, front month corn futures had given back 4 1/4 to 7 cents. That left the December to December spread at a 2 1/4 cent

Hogs Faded Triple Digits - October 21, 2021

Lean hog futures fell $1.77 to $2.82 on Thursday. USDA’s National Average Base hog price was $65.43 after dropping another $1.50. CME’s Lean Hog

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