Daily Market Wire 22 September 2021

Lachstock Consulting, September 22, 2021

Oilseeds firmed. Grains continued lower.

  • Chicago wheat December contract down US10.5c/bu to 690.25c/bu;
  • Kansas wheat December contract down 9.5c/bu to 690.5c/bu;
  • Minneapolis wheat December down 6.25c/bu to 887.75c/bu;
  • MATIF wheat December contract down €1.50/t to €244.25/t;
  • Corn December contract down 4.75c/bu to 517c/bu;
  • Soybeans November contract up 11.5c/bu to 1274c/bu;
  • Winnipeg canola November contract down C$0.50 to $860.60/t;
  • MATIF rapeseed November contract up €6.75/t to €606/t;
  • US dollar index unchanged at 93.2;
  • AUD weaker at US$0.723;
  • CAD unchanged at $1.282;
  • EUR unchanged at $1.173;
  • ASX wheat September contract has expired;
  • ASX wheat January 2022 down $1/t to $336/t.


Speculation about the macro impacts from the Chinese property /developer crash continues to abound. China has been in holiday mode but concerns about contagion and expanded global impacts continue to do the rounds.

No more flash sales to China were reported last night.

A few concerns about quality impacts/yield loss have started to surface with the heavy rains in the US eastern Corn Belt.  Extended run weather maps remain supportive for field work though.

Yield reports continue to be a story of “pick the ones that confirm your bias” for corn and beans. Markets still are trying to find a consensus on how the next few weeks of harvest will pan out.

The Kazakh government has increased their official total grains estimate from 15.3Mt to 16Mt, similar to some of the recent increases in private Russian estimates as spring wheat harvest wraps up there.

Brazilian agricultural consultancy AgRural pegged bean plantings there at 0.5pc complete. Some areas of the far south have seen the drought break after recent rains while others remain under stress.


Local markets remained softer yet again yesterday as the global boards slid. Bids in general were back a couple of bucks but on quiet trading.

The trade continues to look towards the new season harvest. Early cutting is happening up north. Some yield ideas have started to slip after recent weather stress.

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