Markets Markets Analysis Crop Markets Corn Closes up Double-digits | Monday, September 27, 2021 China buys a large amount of U.S. soybeans, Monday. By Mike McGinnis Mike McGinnis Mooresville, North Carolina Started as a radio and television broadcaster for 15 years, then began a long career in web and magazine publishing. Has experience in leading grain markets coverage, leading staff and writers in agricultural coverage of the business of farming. Joined Successful Farming in 2005 as Markets Editor. Successful Farming's Editorial Guidelines Published on September 27, 2021 Close Photo: iStock: PashaIgnatov On Monday, the CME Group's farm markets finished higher. At the close, the Dec. corn futures closed 12½¢ higher at $5.39. March futures settled 12½¢ higher at $5.47. May corn futures finished 12¢ higher at $5.51.November soybean futures closed 2¢ higher at $12.87. Jan. soybean futures finished 2½¢ higher at $12.97. March soybean futures finished 5¢ higher at $13.02. Dec. wheat futures closed 1½¢ lower at $7.22.Dec. soymeal futures ended $1.00 per short ton higher at $340.00. Dec. soy oil futures settled 0.24¢ higher at 58.11¢ per pound. In the outside markets, the NYMEX crude oil market is $1.64 higher (+2.22%) at $75.62. The U.S. dollar is higher, and the Dow Jones Industrials are 141 points higher (+0.41%) at 34,939 points. On Monday, private exporters reported to the USDA export sales of 334,000 metric tons of soybeans for delivery to China during the 2021/2022 marketing year. The marketing year for soybeans began Sept. 1. PJ Quaid, independent broker, says that investors are looking ahead to this week's USDA's Quarterly Grain Stocks Report. "We have a big report on Thursday. In corn, it feels like the farmers are not engaged to selling. This past weekend was a huge harvest weekend. There are rumors of China sniffing around for corn. Also, the ports in the Gulf are coming back online faster than everyone has thought," Quaid says. Al Kluis, Kluis Advisors, says that investors watch U.S. harvest and Brazil's planting weather. "With the dry weather over this weekend and the two weeks of dry weather expected to continue into early October, we will see record (or near record) harvest progress being reported over the next two to three weeks. The rapid harvest should result in an early harvest low," Kluis stated in a note to customers. Kluis added, "How much rain will hit (and where) later this week in central Brazil? Northern Brazil had some good rain events over the weekend. Now, the forecasts late last week are for more rain across much of Brazil by later this week. The key to watch will be how much rain hits and the coverage, compared with what is in the forecast. Last year when the dry weather problem developed, they had always had rain in the forecasts, but it never hit or was less than expected." Was this page helpful? Thanks for your feedback! Tell us why! Other Submit