In observance of Good Friday, there will not be any opening or closing Market Commentary on March 29, 2024. 


Weekly Market Wrap-Up

Grain Market Commentary

Friday, January 21, 2022

by Jennifer Klindt, Merchant, The Andersons

Tuesday’s trade began the week lower as a result of weekend rainfall across Brazil and Argentina but showed recovery by the close of the session. Soybeans and soymeal experienced heavy selling pressure as the 10-day forecast for South America trended cooler with improved rainfall chances. The USDA confirmed the sale of 239,486 tonnes of soybeans to Mexico in 2021/22. Weekly export inspections exceeded trade expectations for both corn and soybeans. NOPA reported soybean crush for December as the highest month ever on record. March corn futures closed the day 3.25 cents higher at $5.9950. March soybean futures closed the day 8.5 cents lower at $13.6125.

Trade on Wednesday showed upside for both corn and soybeans. Although nearby rain was forecasted for Brazil and Argentina, a dry extended forecast remained a top concern for production. Rising tension between Russia and Ukraine triggered buying in wheat along with energy markets. Upside for soybeans was led by soybean meal and soybean oil as a result of Tuesday’s record crush data. Rumors of China buying corn and soybeans lingered throughout the session, but no confirmations were made. March corn futures closed the day at 6.1050, a gain of 11 cents. March soybean futures closed the day at 13.9125, a gain of 30 cents.

Thursday’s session was marked by continued upside in the soybean sector due to fundamental buying. Funds added to their positions after hearing talk of lower South American corn and soybean production estimates along with a dry extended forecast. Corn futures were impacted by a setback in wheat as Russia and Ukraine tension became less of a concern. Weekly ethanol production data showed a slight increase in production and stocks with continued weaker demand. March corn futures closed the day 0.5 cents higher at 6.11. March soybean futures closed the day 34.5 cents higher at 14.2575.

Trade on Friday was mixed to close off the week. The USDA confirmed the sale of 132,000 tonnes of soybeans to China and 247,800 tonnes of corn to unknown for 2021/22. Weekly export sales exceed expectations for corn and fell within the low end of trade expectations for soybeans. Fundamental buying took place in corn and selling took place in the soybean complex. March corn futures closed the day at 6.1625, a gain of 5.25 cents. March soybean futures closed the day at 14.1425, a loss of 11.5 cents. Key factors in the week ahead include demand, South American weather, and fundamental positioning.


March corn futures opened the week at $5.9275 and closed the week at $6.1625, a gain of 23.5 cents.

The Andersons Weekly Wrap Up


March soybean futures opened the week at $13.60 and closed the week at $14.1425, a gain of 54.25 cents.

The Andersons Weekly Wrap Up


March wheat futures opened the week at $7.4225 and closed the week at $7.80, a gain of 37.75 cents.

The Andersons Weekly Wrap Up