U.S.: Morning market review for April 21, 2021

Published 2021년 4월 21일

Tridge summary

Farmers are facing challenges in the planting season due to low soil moisture and unseasonable cold, leading to concerns about crop yields. China's agricultural ministry has called for lower use of corn and soymeal in animal feed due to high grain prices, although this did not significantly impact corn prices. Concerns about the productivity of the safrinha crop in Brazil, a major exporter, could result in tighter supplies, potentially benefiting U.S. exporters. Ethanol production in the U.S. is expected to increase, nearing pre-pandemic levels. Corn and soymeal prices have seen fluctuations, with soymeal prices falling after China's memo on reducing soymeal rations. There are concerns about the impact of coronavirus mutations and rising cases in Japan and India on vaccines and financial markets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

*Prices as of 6:50 am CDT. The latest Feedback from the Field analysis is live on our site! In the first installment of the 2021 series, farmers across the country struggle to get a stable start to planting season amid depleted soil moisture levels and unseasonably cold temperatures. Want to get in on the action?! Click here to take our ongoing farmer survey on crop progress at any point in the 2021 grain season. Our Google Map, updated daily, provides all past responses for farm readers. We can’t wait to hear from you! China’s agricultural ministry published a memorandum overnight calling for lower corn and soymeal volumes to be used in hog and poultry rations amid soaring grain prices. The memo seemingly had little effect on the corn complex this morning, though it likely capped the overnight trading session’s gains after Brazilian corn crop ratings fell on an unusually dry stretch recently. Brazilian corn crop ratings tumbled after a dry spell, sending U.S. corn prices over the ...

Source: Prairie Grain Partners