Stateline Morning Comments May 5th 2021
Corn Up 3 @ 7.04
- The corn market continues the trek higher on tightening supplies and crop losses in SA from extended periods of dryness.
- There were no deliveries posted against the May contract.
Beans Up 12 @ 15.76
- Soybeans move higher on tight supplies and strength in the soyoil market.
- Deliveries: 31 beans, zero meal and 205 soyoil contracts.
- Palm oil closed up 2 at 4,044 ringgit. China markets closed as they enjoy their holiday break. Trade expected to resume tomorrow.
- There are ideas that soybeans could be losing acres to corn and wheat.
Burt, Iowa (50522)