CME GRAINS: Corn: $6.775 (+2.25); Soybeans: $15.32 (-2.25); Wheat: $7.5675 (-4.25); Cotton: $85.43 (-0.96)
National Corn Wire
STOCK UPDATE: Dow 30: 33,926.01 (-127.93); Nasdaq: 12,006.95 (-193.87); S&P 500: 4,136.48 (-43.28)
Market Update
ENERGY PRICES: Crude Oil: $73.22 (-2.66); Heating Oil: $2.7817 (-0.115); Natural Gas: $2.397 (-0.059) (Natural gas falls to new contract low)
Market Update
SHORT-RANGE WEATHER: A strong arctic front and associated gusty winds will produce bitter wind chills as cold as -50 or colder from the Upper Midwest to the Northeast
Weather
U.S. EXPORT SALES: Corn sales up 75% (Best in 10 weeks); Beef at 25.5K mt (Sales over 25K metric tons back-to-back weeks)
Market Update
DROUGHT MONITOR: We recently saw drought relief in California with a deluge of Atmospheric Rivers. We're now seeing drought relief in eastern Oklahoma and Texas with perilous ice storms. 61.59% of the contiguous U.S. in drought (D0-D4) this week, compared to 62.92% last week and 72.21% last year
Weather
DROUGHT MONITOR: It’s hot and dry in the Southwest. Exceptional drought (D4) has developed or expanded in parts of Utah and New Mexico. Meanwhile, most states in the West and Great Plains saw improvements, except for areas of Montana and Texas
Weather
DROUGHT MONITOR: Amidst the wild and devastating weather week, drought mostly held at status quo. The West saw some improvements, and the Southern Plains saw degradations, with mostly small changes elsewhere (VIEW REPORT)
Weather
DROUGHT MONITOR: 217.8 million acres of crops in U.S. are experiencing drought conditions this week, unchanged from last week, up 8.5% from last month
Weather
DROUGHT MONITOR: Drought coverage across the U.S. and Puerto Rico topped 40% (40.01%) for the first time since late September and for the fifth time in 2021. The lowest percentage of drought coverage across the U.S. & P.R. so far in 2021 occurred in late May (36.3%)
Market Update
SOYBEAN EXPORTS: Net sales of 276,800 MT for 2021/2022 were down 63 percent from the previous week and 48 percent from the prior 4-week average
Exports
Corn export commitments (ytd) reported at 69.7 million metric tons in 2021, up 59.5% from the prior year (VIEW REPORT)
National Corn Wire
DAILY EXPORT SALES: Private exporters reported sales of 128,000 metric tons of soybeans for delivery to Mexico during the 2022/2023 marketing year
Exports
Corn exports projected at 72.4 million metric tons in 2021, up 67.3% from the prior year (VIEW REPORT)
National Corn Wire
CORN EXPORTS: Net sales of 151,600 MT for 2021/2022--a marketing-year low--were down 63 percent from the previous week and 73 percent from the prior 4-week average
National Corn Wire
WHEAT EXPORTS: Net sales reductions of 2,300 metric tons (MT) for 2021/2022--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average
Exports
The Federal Reserve is expected to raise its target interest rate by a quarter of a percentage point on Wednesday, setting aside the rapid hikes used last year to curb a surge in inflation in favor of a more stepwise hunt for a stopping point (Reuters)
Market Update