Edwards Market Thoughts

5/6/2021 8:00am 

July corn led a strong overnight volume tally with December not far behind, and both carving out fresh contract highs; BRZ safrinha corn
forecasts are still dry and the market remains concerned about global supply.

Path of least resistance is higher.  Forecast remain dry for Brazil.  Brazil Production estimates range from 90-95 mmt…so 550-750 mln bu less than USDA is currently.

U.S. precip continues to be light, picking up over the weekend with decent amounts from NW to SE across the belt, heaviest for the latter. The 6-10 day looks drier, followed by a wetter 11-15 day time frame. Temperatures will cool down into the 6-10 day period, recovering to normal for the 11-15 day.

DOE total fuel ethanol production remained on its steady to slightly-higher trend, up 7,000 barrels per day on the seven days ending April 30th, to 952k bpd; that remains well ahead of the comparable week last year at just 598k bpd, though behind any other year at this point since 2016. Cumulative production since Sept 1 has inched higher over the last ten weeks, now at 934k bpd, still only 5k ahead of last year’s final. The USDA needs that number at a +15-20k bpd by 9/1 to hit their YoY corn use for ethanol estimate.


Local Weather
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Siouxland Cash Bids
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Quotes are delayed, as of May 06, 2021, 08:35:25 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.
Industry News

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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.

Growth Energy

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Hogs Higher on Thursday -

Front month lean hog futures closed the Thursday session with 2 to 17 cent gains. October contracts ended 17 cents lower and December was UNCH.

Corn Futures Double Digits Stronger -

Corn futures rallied double digits on Thursday. Old crop July closed 10 1/4 cents higher, but is still 40 3/4 cents below May with 6 trade days

Triple Digit Gains for Cotton -

Old crop cotton futures closed 325 points higher on Thursday. May futures expired at 89.48 cents/lb. New crop prices were 114 to 171 points higher

Wheat Prices Gain on Thursday -

Thursday wheat futures closed near the highs with some double digit gains. CBT wheat futures ended the session 8 ¾ to 11 3/4 cents in the black led

Soybeans Gain Double Digits -

At the Thursday close, soybean futures were 20 to 28 cents in the black. The May to July inverse tightened to 36 cents/bu by the close. New crop

Cattle Mixed with Higher Fats -

Fat cattle futures climbed back from midday lows and closed the Thursday session in the black. June fats were the strongest on the day with a triple

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