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USDA / CRP ENROLLMENT

Afternoon Market Recap for April 23, 2021

Soybeans and wheat also trend higher on Friday Some profit-taking overnight and early in Friday’s session kept corn and soybean prices on their heels for a while, but a late-session rally helped push them back into the green by the close. Nearby corn contracts rose another 1%, while soybean prices finished with more modest gains. Wheat prices also continued to improve today. Spring wheat contracts led the way with gains of 1.8%, while winter wheat contracts saw smaller improvements. Most of the Midwest and Plains will see at least some measurable moisture this weekend into early next week, as some areas could gather another 0.5” between Saturday and Tuesday, per the latest 72-hour cumulative precipitation map from NOAA. The agency’s 8-to-14-day outlook predicts more seasonally wet weather for the upper Midwest between April 30 and May 6, with near-normal temperatures likely for most of the central U.S. during that time.

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