Daily Market Wire 15 November 2021 – Grain Central

Chicago corn firmed 7.75usc/bu which put it up 26usc/bu on the week while China corn had an unchanged session.

Wheat is driving the agricultural futures markets, fundamentals supporting the buying and, every day it seems, another global end user sniffing around for tonnage.

The tail of the US corn and bean harvest has been plagued by delays which have helped keep domestic basis big, mainly from the ethanol producer, despite a lacklustre export program.

For some time, the market has accepted that Argentina and Australia have to do the heavy lifting, though, while tonnage prospects have pencilled in there is still a big question mark over quality.

We have seen a little more volatility as we work our way through harvest and the global trade in canola continues to run at a rate of knots.

Another week ahead of watching weather maps and radar images, as growers across the east coast and in SA get back on the paddocks and what looks set to be another stop-start week.

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