Pinion Update January 30, 2021

Pinion Update January 30, 2021

Good morning. I’m Darren van Vactor with Penn and division of Keiko ISO. The grain markets as a whole, have had a different look after the long weekend. For the first time in a while, we’ve had a few consecutive down days. And some other circumstances this would look more burdensome. But right now we are sitting in the upper ranges of the last five years for corn, soybeans and wheat. This is definitely worth noting, there’s a potential fundamental reason for the move. As South American weather has been closely monitored, and heavily debated. One can find a narrative for either side of things regarding conditions. It appears soybean bulls took some risk off the table this week as the forecasted grains fell, improving the overall soil profile for the time being. The South American crops specifically soybeans will be watched closely regarding its impact on world supply. Corn held most of last week’s gains as the USDA tightened ending stocks a little more than folks expected. But didn’t come off the recent highs, due to the South American moisture headline. We continue to rally after the report as Russia bumped its export tax higher. There is a potentially bullish headline looming, regarding whether with a good chunk of wheat country lacking moisture. The situation will become more pressing as wheat breaks dormancy. This recent rally has opened up a lot of opportunity, might be time to take advantage. Questions give us a call, 888-452-8751 I’m Darrin Van vactor be safe and have a great week.

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