Grain Markets Commentary
Grains rebound
Corn and soybeans have moved higher of the early week lows as crude oil prices recover as well. Corn is 20 cents off this week’s lows and soybeans are 43 cents higher. Pretty impressive bounce as the markets realize the new variant while highly transmissible but symptoms are less dangerous. Exports were nothing to write home about which makes the bounce that much more impressive. The crude oil market has rebounded from the OPEC+ meeting and most think they will cut production quickly to keep prices stable. They do not want to have another price collapse like last year. Ethanol margins are strong and the plants continue to set the cash price across the countryside. We are looking at strong prices to finish week.