US corn, soybeans and soymeal had a strong finish to the week that turned a down week into an up week. However, US wheat was stuck with a down week. US soybeans rallied about USD 9 m/t of Friday after a lower week and finished off almost unchanged on the week, but soymeal did finish off higher by almost USD 8 m/t. After a USD 7 m/t rally on Friday, corn prices ended the week about USD 5 m/t higher. US winter wheat was the loser on the week dropping between USD 5 and 7 m/t.......please click PDF to see more details

So, here we are just after USDA WASDE week and we see prices lower for most everything. Soymeal was the weakest item this week dropping by USD 18 m/t for May futures. Soybeans were down by about USD 7 m/t with corn for May only being down by about USD 3 m/t. US hard red winter wheat was down by USD 8 m/t with US spring wheat down by USD 3 or 4 m/t.  ......please click PDF to see more details

Once again this week, soybeans were the price leader with markets moving higher by about USD 10 m/t. All US grains and oilseeds finished the week strongly – perhaps in anticipation of the USDA WASDE report next week with Friday being an up day for prices on most everything........please click PDF to see more details

US soybeans were up in price again this week -- by about USD 8 to 10 m/t – but the last two days of the week were very up and down in prices with the range on some days being USD 10 to 12 m/t. Just like the soybean market can’t decide what to do. China and South America are the main drivers of the soybean/soymeal markets with concern of China’s consumption......please click PDF to see more details  

Ah weather, weather, weather, weather --- quite a shock to all the folks in the southern USA as winter storms closed in an shut most everything down.
The USDA issued its first 2021 forecasts through the Ag Forum that was held this week .......please click PDF to see more details

HAMMERSMITH Marketing Ltd

With the USDA WASDE numbers coming out next week most grain and oilseed markets – except wheat – had a very quiet week.
Corn futures are close to contract highs and, even though prices didn’t do much this week, market experts still see corn being in a bull market with the potential to move higher.....please click PDF to see more details 

Grain/oilseed prices just seem to want to move higher every week and this week was no exception – US corn prices were up by USD 14 to 18 m/t, soybean prices up by about USD 20 m/t, soymeal up by USD 10 to 12 m/t. Even wheat prices couldn’t help but move higher with winter wheat up by USD 9 to 12 and spring wheat up by USD 8 m/t........please click PDF to see more details

So, how did the futures markets react this week: corn prices down by USD 12 to 14 m/t, soybean prices down by USD 38 to 40 m/t, soymeal down by USD 40 m/t, spring wheat down by about USD 11 m/t with winter wheat down by USD 15 for soft winter and USD 11 for hard winter. That is an impressively down week.......please click PDF to see more details

So, what do we have at the end of this week – USA corn prices are up by USD 5 or 6 m/t, soybeans are up by USD 22 to 25 m/t, soymeal is up by USD 11 to 14 m/t. Only US wheat prices were fairly quiet with winter wheat down by about USD 3 m/t and spring wheat up by USD 3 m/t. ......please click PDF to see more details