Wednesday, October 20, 2021 8:23 AM
CORN:
On Tuesday December corn futures closed 2 1/2 cents lower. Not much news on corn for the moment. The market is trending sideways. There are rumours of U.S. exports of ethanol to China, which may increase U.S. corn usage this year.
December corn is up 4 1/2 cents morning.
SOYBEANS:
November soybeans led other commodities and were up 6 1/2 cents yesterday. Harvest pressure is being met with purchases of futures by hedge funds (large speculative traders).
Market is up 9 1/2 cents in the a.m.
WHEAT:
December Chicago wheat was down 1/4 cent and December Minneapolis wheat was up 6 1/2 cents again on Tuesday.
Chicago is up a 5 3/4 cents, and Minneapolis is up a 5 cents in the a.m.
Market closed at $413 per tonne at the elevator on Tuesday.
CANADIAN DOLLAR:
Canadian dollar closed at 80.87 on yesterday. The market is at 80.95 this morning. The near-term trend for the Canadian dollar is to the upside.
GENERAL:
The crude oil market backed off to 82.01 this morning.
Crop planning is always a challenge. Not telling producers what to do but please revisit your cost of production this winter to see how things pencil in regarding input costs vs. prices for 2022/23.
Please call Geoffrey Guy at 613-880-2707 or Delores Foster at 613-880-7458, or Bob Orr at 613-720-1271 if you would like prices for crop you have stored on your farm. Prices quoted herein are for product at our elevator.
-------------------------------------------------------------------------------------
If you would like to receive our daily email (which is sent out at 8:00 a.m.) with our prices and the market commentary please call the office 613-489-0956
