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Corn, soybeans and wheat all finished the week lower, with corn posting its first weekly loss since early December. Urea swaps at the Gulf jumped $32 a ton to $300 as buyers scrambled for barges amid limited import supply.
Analysts noted that soybean carry-out was approaching unsustainable levels, raising questions about demand rationing in soybean meal.
A routine weekly wrap showing profit-taking after a sharp rally, which typically means short-term downward pressure on feed grain and oilseed prices. Higher fertilizer costs add to input pressure on crop margins.
farmprogress.comNational Hog Farmer StaffJan 22, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Reports the same $32 jump in Gulf urea swaps on scarce barge and import supply, but it is a grain market wrap that duplicates 9193 and adds little new.
Repeats the Gulf urea swap jump to $300 on limited import supply, a contributing signal slightly before the window.
