Midweek Markets: Soybeans soar to seven-year highs

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Taking a closer look at this week’s weather rally.

Planting was put on pause in most fields across the Midwest and Plains this week as rain, snow and cold weather hampered fieldwork. That has given grain prices a healthy boost in recent sessions, with corn climbing above $6 for the first time in years, and with soybeans sitting on multiyear highs as well.

Strong supply and demand fundamentals have also contributed to the latest red-hot corn and soybean prices, with adverse weather overseas and some geopolitical concerns between Ukraine and Russia also proving supportive for wheat prices.

Other thoughts for consideration – can ethanol production claw its way back to pre-pandemic levels? And how badly will the latest round of inclement weather stall planting progress moving forward?

We address those questions and more in the latest Midweek Markets podcast.

Listen to the this week’s Midweek Markets podcast for April 21, 2021:

 

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