Futures Close Report 24/09/21

Advancing pace of US harvest putting pressure on CBOT prices for Corn / soybean meal.

U.S. corn export commitments for the 2021-22 marketing year that began this month equate to 24.95 million tonnes (982 million bushels), the highest for the date in circa 15 years and around 40% of total export expectations.   For Soybeans exporters had sold 23.2 million tonnes (852 million bushels) of soybeans for 2021-22, accounting for around 41% of USDA’s full-year outlook of 56.9 million tonnes (2.09 billion bushels).