Edwards Market Thoughts

6/18/2021 8:00am

Corn will have EXPANDED limits of 60 cents/bu tonight/tomorrow. Beans remain at $1.50 bu limit, soyoil at 550 points and soymeal have limit of $45 a ton tomorrow.

Next major support in Sept corn at $5.25 & at $5.00. Chart below shows back in 2013, Sept corn went from $6.00 to $4.50 by August on favorable weather.

Weather maps still indicating rains to move through the Midwest this weekend and next week with cooler temps for next week. European model is not as heavy on the rain amounts as the GFS so have to see if the rains come to pass as forecast. Lately in the WCB the rain amounts have been lighter than forecast.

Farmers frozen at the wheel for now and will wait to see if they get moisture and how pollination goes. Old/new crop inverses stalling out for now while Dec/Mar spread widens out to -7 1/2. Look for consolidation type trade with focus on midday weather maps. Outside markets still has the US dollar index rising with energies and equity markets under pressure.

 

Local Weather
Weather radar map

Sioux Center, Iowa (51250)

Current Conditions: Sunny
Temperature: 79°F Dew point: 54°F
Humidity: 42% Pressure: 29.85 in. Hg
Wind: 6 mph From: East

Forecast

Friday
Weather condition
Hi: 88°
Lo: 59°
Saturday
Weather condition
Hi: 84°
Lo: 60°
Sunday
Weather condition
Hi: 82°
Lo: 63°
Monday
Weather condition
Hi: 69°
Lo: 52°
Tuesday
Weather condition
Hi: 78°
Lo: 48°
Wednesday
Weather condition
Hi: °
Lo: °

© 2021 Freese-Notis Weather

Siouxland Cash Bids
Name Delivery End Basis Cash Price Futures Price

View all cash prices...
Quotes are delayed, as of June 18, 2021, 10:21:10 AM 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

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

Monday - Friday

7:30 am - 4:30 pm

 

   

Our offices will be closed to visitors until further notice.

 

 

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 See Limit Losses As Longs Crowd Through the Exit Door -

At the close, lean hog futures were $1.77 to $4.50 weaker, with expanded limit losses for July and August contracts. Futures will maintain their

Soybean Complex Sees Dead Cat Bounce Overnight -

Soy futures are 41 to 51 cents higher this morning, reversing part of Thursdays triple digit decline in a classic dead cat bounce. Expanded limits

Corn Recovers Part of Thursday Decline -

Following the limit losses on Thursday, corn markets are back up 13 to 18 cents to begin the last trade day of the week. Pre-weekend profit taking

Cattle Futures Caught in Massive Commodity Landslide -

At the close on Thursday, front month fat cattle futures were $2.72 to $3.82 lower. Kansas and Northern trades were mostly $124 on Thursday. The

Cotton Futures Rebound -

Cotton prices is trading 35 to 96 points higher this morning on pre-weekend position squaring.  On Thursday cotton futures ended the session

Wheat Futures Up Double Digits on Correction -

Overnight wheat market bottom picking has prices 11 to 15 cents higher this morning. Wheat futures were down double digits on Thursday taking part

Full commentary...


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