State-of-Play for Week Ending Feb. 19, 2021
State-of-Play — Week Ending Feb. 19, 2021
Welcome to this week’s snapshot of the global grains and oilseeds industry. For the full report, click link at the end.
- FND + month-end — Friday, 26 February.
- U.S. crop insurance rates — set on average of February: corn and spring wheat looks to be at 7-year highs with soybeans at 8-year highs.
- China back from its Lunar New Year — was the rumor in the corn market on Friday (rolling some of its 2020-21 U.S. corn ownership forward).
- Brazil soy harvest – moving along… Logistics will slowly get cleared up. Soy premiums now at a discount to CME as buying March would not load until April, etc.
- Argentina leads world SM premiums lower.
- Soy oil on its own with new contract highs scored on Friday — new highs in oil share for 2021 — a vertical move higher since mid-January.
- U.S. focus is on logistics — esp. more for corn as it really needs to pick up its export pace.
To read the full GAP State-of-Play for the week ending Feb. 19, 2021, click here.
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